ICAP prepares SEF application

ICAP will submit a regulatory application by Oct. 2 to launch a swap-execution facility, CEO Michael Spencer says. "There is greater clarity on regulatory reform with the publication of the SEF rules by the [Commodity Futures Trading Commission], and we believe we are well placed to adapt and benefit from the evolving environment," he said. "The new rules will alter the way the swaps are executed, and with its electronic market and broking capabilities, ICAP is already well advanced in its SEF application."

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