ICAP Brokers on ‘Treasure Island’ Said to Reap ISDAfix Rewards

in 2013, Bloomberg, Mark Williams, Newsmakers, School of Management
April 10th, 2013

Mark Williams, School of Management

ICAP Plc’s (IAP) U.S. interest-rate swap desk, which regulators are investigating as part of a price- manipulation probe, paid its brokers as much as $7 million a year at the market’s peak, earning the group the nickname “Treasure Island,” said two people familiar with the matter…

Expert quote:

“Brokers who can work in markets that aren’t transparent continue to enjoy oversized profitability.”

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