Performance across ICAP's voice and electronic businesses has remained more muted than anticipated at the time of the inter-dealer broker's annual general meeting in July.
On the plus side, although activity in global markets has remained subdued in the last six months or so, there has been some improvement in trading volumes in September. As a result, group revenue in the six months ending September 30th is expected to be around 14% lower than the previous year.
More to follow ...
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