It’s logical that brokers such as Icap and Tullett Prebon should face being downgraded by the analysts who cover them. After all, they face many challenges. A degree of consolidation is taking place in their client base, let alone in some of the more lucrative markets they operate in. That said, I would still have thought that their diversification of offerings makes them better bets than certain regulated exchanges, which look to be veritable one-track ponies in comparison.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
