Description
ICAP was formed in September 1999 by the merger of Garban plc and Intercapital plc.
The merger brought together Garban’s government and corporate bonds, interest rate products, and money market instruments, with Intercapital’s interest rate swaps and options, commodity swaps, illiquid securities, and foreign exchange options. Garban-Intercapital plc was renamed ICAP plc in July 2001.
Intercapital was set up in May 1986, initially to concentrate on the new interest rate swaps market. As a specialist financial derivatives broking firm, Intercapital grew from the original four people to more than three hundred worldwide, with offices in London, New York, Sydney, Singapore, and all major financial centres.
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