FX Week

Active FX markets boost Icap’s results

Icap does not break out FX figures but it announced profits for interest rate derivatives and money broking of £27.7 million for the six months ending September 30, 2002, down from £30.0 million for the same period last year. The broker’s interim pre-tax profits were up 30% to £58.2 million, thanks to longer-term interest rate and credit volatility, the company reported.

"Market conditions across all regions for derivatives, bonds and money markets have been extremely active as longer-term rat