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Founded 2017
Key People Nicolas Breteau, Chief Executive
Employees 3,500
Products inderdealer brokerage

TP ICAP is the name given to the brokerage formed when Tullett Prebon acquired its rival ICAP’s voice-broking and information business in December of 2016. The all-stock deal, worth £1.28bn, created the industry's largest interdealer brokerage.[1]

The company's 3,425 brokers run competing desks, trading under the Tullett Prebon and ICAP brands.[2]

TP ICAP has offices in 28 countries.


See the History sections of Tullett Prebon and ICAP.

Products and Services

TP ICAP is the parent company to four broking brands — Tullett Prebon and ICAP, which remain as separate, competing desks; PVM, an oil specialist broker; and Mirexa Capital.

The company has 5 divisions: Global Broking, Energy & Commodities, Institutional Services, Data & Analytics, and Corporate Services.[3]

  • The Global Broking division services markets in Rates, FX and Money Markets, Emerging Markets, Equities and Credit products.
  • Energy & Commodities operates markets in oil, gas, power, renewables, ferrous metals, base metals, precious metals, soft commodities and coal.
  • Institutional Services provides broking and execution services to a range of institutions.
  • Data & Analytics provides data sets of OTC pricing products to enable clients to analyse, record, trade and risk manage their portfolios.
  • Corporate Services provides support staff and infrastructure.

Key People


  1. Newly created TP ICAP looks to dominate voice-broking industry. The Financial Times.
  2. Tullett completes Icap deal to create world's biggest broker.
  3. 2017 Annual Report. TP ICAP.