Broker TP ICAP first half profit falls as market volatility eases

A broker looks at a graph on his computer screen on the dealing floor at ICAP in London, Britain January 3, 2018. REUTERS/Simon Dawson/File Photo, the world's largest inter-dealer broker, reported on Tuesday a lower half-year profit as trading in its global broking and energy and commodities businesses tailed off from the high comparable base marked by the pandemic.

"Secondary markets in the first half of 2021 continued to be uncommonly quiet," said chief executive Nicolas Breteau. Trading-related firms across most asset classes have witnessed activity in their platforms fall from the 2020 levels when the onset of the COVID-19 pandemic saw decades-high market volatility globally.

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