ICAP TP’s CEO John “Phiz” Phizackerley acquired a total of 151,964 shares, a regulatory filing with the London Stock Exchange (LSE) shows. The transaction was executed on the 3rd of April 2017 at a price of £4.55 per share.
The total value of the shares as of the date of transaction amounts to £691,436 ($863,344). The news follows a purchase made by the CFO of TP ICAP and his spouse in late March. The regulatory filing related to this purchase shows the acquisition of 25,000 shares at £4.47. The total value of the transactions amounts to £111,750 ($139,535).
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TP ICAP was formed after the merger of NEX Group’s hybrid and voice broking business with Tullett Prebon. The company has been one of the major inter-dealer brokers in the financial intermediaries industry in London.
The firm started as a foreign exchange broker in the ’70s by Derek Tullett. After the acquisition of Prebon Yamane in 2004, the company has been continuously expanding its business.
The CEO of the company, John “Phiz” Phizackerley has been at his position since 2014 when he succeeded Terry Smith.
In March TP ICAP reported its full year revenues for 2016, which amounted to £891.5 million, with operating profits of £131.5 million. The company’s acquisition of ICAP’s hybrid and voice broking business has materially expanded the company’s operations. The firm is running its Tullett Prebon and ICAP brands separately.