Two of the City’s biggest brokers have completed their billion-pound deal to split into a voice-broking powerhouse and an electronic markets specialist.
The complex transaction was first announced in November 2015 and has been tweaked to satisfy regulators, which called for the sale of Icap’s oil-trading desk to encourage competition.
John Phizackerley, who will lead the newly enlarged Tullett Prebon Icap, said the deal 'creates the leading interdealer broker in the world'.
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