Icap has received final regulatory approval to complete the acquisition of the remaining 61.78% of stock in Swedish-based post-trade services company TriOptima.
Plans for the acquisition were announced on February 5. Icap will initially pay SKr1,074 million ($148 million) in cash, financed from Icap’s existing debt facilities.
TriOptima will join a number of other companies in Icap’s newly formed post-trade risk division. Mark Beeston, director of business development for the post-trade risk division says: “Icap has been developing a post-trade risk and information business to provide innovative services that enable our customers to reduce their costs and risks and increase their efficiency.
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