TP ICAP is Eyeing Takeover of Axiom Commodity Group

TP ICAP, the largest interdealer broker in the world, is reportedly in advanced talks to buy US-based Axiom Commodity Group. With TP ICAP set to report its third-quarter results on Friday, the deal could be announced as soon as this week.

A source with knowledge of the deal revealed the Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term this Wednesday to Reuters. The source did not want to be identified as talks were still ongoing.

Axiom was founded in 20016. It has a large presence in the natural gas, petroleum, power, biofuels, and grains markets. Because of this, the acquisition would help TP ICAP to increase its presence in these markets.

According to the report from Reuters, TP ICAP declined to comment, and Axiom couldn’t be reached as it was outside of its business hours. The deal was first reported by the Financial Times earlier today.

TP ICAP Continues to Invest in Its Energy and Commodities Unit

TP ICAP brings together buyers and sellers in the financial, energy and commodities markets. The acquisition of Axiom would be the latest investment by the firm in the continued growth of its Energy and Commodities unit.

Earlier this year in January Finance Magnates reported that the firm had acquired SCS Commodities Corp, an independent energy and commodities broker in the United States. At the time, the interdealer broker did not disclose the value of the deal, but it did reveal that it consisted of an initial cash payment and a subsequent period of five years of performance-based compensation that will also be paid in cash.

TP ICAP is the result of Tullett Prebon’s takeover of one of its rivals - ICAP’s voice-broking business in 2015. The company has a global representation with offices in North America, Europe, and the Asia Pacific region. ICAP Energy provides its services via Nymex Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term services, a solution that is supported by the electronic trading platforms of Globex and ICE.