The TP ICAP share price is down today after the company announced its full-year results. The interdealer broker reported a loss of £246 million for the year to December 31, 2019, compared to a profit of £129 million in the previous year. This was largely due to a write-down of the value of its business and increased costs.
TP ICAP said that it expects challenging conditions to continue in 2020.
TP ICAP shares are up today on the news that the company has agreed to a merger with BGC Partners. The all-stock deal will see BGC shareholders owning 57.5% of the combined company, with TP ICAP shareholders owning the remaining 42.5%. The new company will be called BGC TP ICAP and will be headquartered in London.
This is a great move for both companies, as it will create a global leader in the interdealer broking industry. The combined company will have pro forma revenue of $3.6 billion and EBITDA of $1 billion. This is a strong combination that will be able to compete effectively against other large brokers like CME Group and ICE.
The share price of TP ICAP has risen sharply on the news, and I believe there is still more upside ahead.
Tp Icap Share Price, News
TP ICAP plc (LSE: TCAP) is a global firm of interdealer brokers that provides liquidity and executes trades in financial markets. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
The company was formed in October 2013 by the merger of Tullett Prebon plc and ICAP plc’s voice broking businesses.
Michael Spencer, the former chief executive (CEO) of ICAP, became CEO of TP ICAP. The group has its headquarters in London and operates through four divisions: Global Broking, APAC Broking, EMEA Broking and Post Trade Risk & Information (PTRI).
TP ICAP employs over 5,000 people across 30 countries and is the world’s largest interdealer broker.
Credit: www.cityam.com
Is Tp Icap Same As Icap?
ICAP is a global brokerage and provider of market intelligence and post trade services. TP ICAP is the world’s largest interdealer broker.
The two firms are distinct and separate entities, with different ownership structures, business models and strategies.
TP ICAP was formed in December 2013 following the merger of Tullett Prebon and ICAP plc’s Global Broking division.
Is Tp Icap Brokerage?
TP ICAP is a global brokerage firm that provides services in a variety of asset classes, including equities, fixed income, commodities, and derivatives. The company has over 3,000 employees in 30 countries. TP ICAP was formed in December 2013 through the merger of ICAP plc and Tullett Prebon plc.
🔴 TP ICAP Group PLC TCAP Stock Trading Facts 🔴
Conclusion
The TP ICAP share price has been on a rollercoaster ride in recent years, but the company is now back on track and its shares are trading at a healthy premium to their book value. The company is the world’s largest interdealer broker and provides a vital service to the global financial markets. It has a strong balance sheet and is well-positioned to take advantage of any further consolidation in the industry.
