ICAP completes restructure
Interdealer broker ICAP has completed the restructure of its strategic interests in Japan.
Interdealer broker ICAP has completed the restructure of its strategic interests in Japan.
ICAP Totan Securities, a 60% majority owned subsidiary of ICAP, has completed the sale of its JGB business to Central Tanshi Securities, earning the firm £1m.
ICAP and its existing partner, Totan Holdings, also acquired shares from Cental Tanshi in the newly renamed Central Totan Securities.
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Central Totan Securities now operates the expanded JGB business. ICAP holds a 20% interest in Central Totan Securities, while Totan and Cental Tanshi each hold 40%.
ICAP has also completed the acquisition of an increased share in Totan Capital Markets, an interest rates derivatives broker. ICAP now owns 40%, up from 28.14%.
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