March 13, 2018 / 7:28 AM / a year ago

TP ICAP, European regulators in talks over Brexit hub requirements

March 13 (Reuters) - TP ICAP Plc said it would do “what is necessary” in 2018 to ensure uninterrupted service after Britain left the European Union, and it was in talks with financial regulators to look into requirements for a post-Brexit hub should it choose their location.

The world’s largest interdealer broker said its work to prepare for Brexit had been hampered by political uncertainty which persists into 2018.

“We have now moved from analysis and planning, to decisions and action without a full understanding of the final outcome of the negotiations between the UK government and the EU,” TP ICAP said in a statement.

The company said it had “an extensive Continental European footprint” and services EU clients from Frankfurt, Paris, Amsterdam, Madrid and other locations.

The company, which brings together buyers and sellers in financial, energy and commodities markets, said pretax profit rose to 72 million pounds ($100.01 million) in 2017, from 57 million pounds a year earlier. ($1 = 0.7199 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Gopakumar Warrier)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below