ICAP Share Discussion Threads

[fangorn2] 04/6/2014 11:31

London/New York, June 4, 2014 - i-Swap, ICAP's award-winning electronic interest rate swaps platform, which allows trading on the ICAP SEF, announces today that it has set a monthly US Dollar interest rate swaps (USD IRS) volume record in May of 428 trades worth a notional value of $17 billion, representing 23% of all USD IRS trades at ICAP.





Don McClumpha, CEO of i-Swap, said: "Last month's record is encouraging and demonstrates strong US Dollar liquidity on the i-Swap platform and the evolution toward increased electronification of the wholesale market. We reached these levels with close engagement with our customers and our brokers embracing an environment that is more conducive to electronic trading. In contrast, we executed 2% of our USD IRS trades electronically in January, the last month prior to the onset of SEF execution level requirements. We thank our customers for their continued support and look forward to seeing i-Swap momentum continue to build."





Laurent Paulhac, CEO of the ICAP SEF, said: "Execution on i-Swap has grown substantially in recent weeks and on a single day in May, 46% of all USD IRS trades were executed electronically. The positive trend we are now seeing on i-Swap for US Dollar IRS is encouraging and confirms that the successful integration of our voice RFQ (vRFQ 2.0) service with our electronic CLOB (Central Limit Order Book) creates value for our clients. Our regulatory compliant hybrid model combined with the recent launch of our dually regulated global SEF which solves the cross-border liquidity fragmentation issue, is gathering solid support from our global clients. We have more work to do but we are excited about the recent progress."

[dmf] 11/5/2014 22:03

FY results 14/5 - Analysts forecasting Revenue around £1.4bn (£1.47bn) & pre tax profit between £266m & £280m (£66m)

Soft markets & global regulation will dominate results, in particular OTC interest rate swaps & foreign exchange derivatives revenues will have declined, however strong demand for electronic trading of Chinese renminbi & post-trade services for dealers OTC derivatives portfolios will to some degree mitigate declines in other areas.

[bend1pa] 09/5/2014 18:35

And as expected the news keeps getting worse. I'm beginning to wonder whether IAP is in slow but terminal decline. A div cut must now be a serious factor within the next year.

[dmf] 03/4/2014 08:45

bend1pa - You could argue that that information is already factored into the share price !

[bend1pa] 01/4/2014 14:46

Hardly a statement of confidence. The div looks safe for the time being. But with ever declining revenues (forecast to be 18% lower than 2011) and declining earnings it is almost certain to be cut within the next 2 years unless things unexpectedly pick up. And then there's still overhanging LIBOR concerns with the SFO having now charged 3 ex employees with fraud. Hopefully there will be no further fines for ICAP in addition to the £55m that this has already cost them. About time ICAP stopped recuiting criminals.

[jeffian] 01/4/2014 11:41

Well that wasn't too bad. Consensus £273m is equivalent to about 31.3p eps, so the 22p divi looks safe, if not well-covered.

[tom111] 28/3/2014 17:40

Look at the latest announcement,not good,im out of this one at the moment and in Tullet both company share price down

[jeffian] 28/3/2014 17:22

It's Tuesday (1 April). Market doesn't seem to be expecting good news.

8-(

[shammytime] 27/3/2014 08:31

Should be some superb numbers tomorrow. Expect this to be at 410-420 by end of week

[tom111] 11/2/2014 09:05

Nice move up here,about time

[tom111] 01/2/2014 14:25

Trading up date due Wednesday.2.5million pound buy late friday

[tom111] 01/2/2014 09:52

I would have thought ICAP would benefit from the activity going on at the moment ie currency and interest rate fluctuations

[tom111] 31/1/2014 09:12

Why spirito

[spirito] 31/1/2014 08:45

This will recover strongly over coming months.

[bend1pa] 31/1/2014 02:21

Five brokers downgraded this month, 2 of them down to sub 350p. Every year they downgrade IAP and share price temporarily crashes, then usually recovers after a few months. I'd wait a bit before leaping in. There's at least £55m of fines to write off let alone further litigation against IAP in the States. If the next results are mediocre again this could easily retreat to the 320s or lower again.

[dr biotech] 23/1/2014 21:51

Allegedly due to poor figures from Deutche bank (indicating a lack of interdealer trades) and a downgrade from a broker.

[ampster] 22/1/2014 16:33

Anyone know the reason for the sudden drop this past few days?

[spirito] 21/1/2014 09:27

Bought some of these yesterday think they are real good long-term value I am in

[mctmct] 13/11/2013 12:31

Jeffian:

So the interim dividend was slightly higher and (I'm guessing) at the time the directors intended the final to be slightly higher too. Maybe they decided they couldn't afford that but weren't prepared to cut the final below the level that gave the same total as the previous year. It makes me nervous.

[11023154] 12/11/2013 14:07

thoughts on tomorrow?

[jeffian] 05/11/2013 23:42

"Dividend

A final dividend of 15.4p per share is recommended by directors. The full-year dividend will be 22.0p (2011/12 - 22.0p). This reflects the Group's continuing ability to fund this level of dividend as a result of its strong cash generation and the board's confidence in the medium-term prospects for the business.

The final dividend is lower than the prior year of 16.0p which is simply a result of this year's interim dividend being slightly higher, at 6.6p compared with 6.0p. The full-year dividend per share of 22.0p is covered 1.5 times (2011/12 - 1.8 times) by adjusted basic earnings per share of 33.0p."

[mctmct] 05/11/2013 17:49

Why does ICAP pay a dividend that is only 30% covered?