TFS-Icap Merges Options Unit With Volbroker
TRANSACTION SYSTEMS
LONDON--TFS-Icap will merge its options brokering unit, jointly owned by Icap and Tradition Financial Services, with Volbroker, a bank-owned e-broking service for FX options.
The deal, which is subject to regulatory approval, will create a hybrid currency options platform that brings together TFS-Icap’s voice-generated liquidity system and Volbroker’s electronic system. The move has been rumored for several months (FX Week, Sept. 3).
The merged entity will trade under the name of TFS-Icap. At
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