Remate Lince, which zeroes in on instruments available in, or linked to, Mexican pesos, operating a pesos bonds division and a derivatives division, complements BGC's existing footprint in Mexico and Brazil in the
inter-dealer broker area, the buyer has said.
"Our end user customers and
inter-dealer broker partners have increasingly been seeking out straight-through-processing and a front-end for trading and execution in global OTC energy markets," said Joe Raia, the CME Group Managing Director for Energy & Metals Products.
* Cross-in/IDB out (involving a third-party
inter-dealer broker as intermediary to effectuate a cross-out); and
Inter-dealer broker Tullet Prebon saw its shares crash last week after the company said takeover talks had ended and it reported a 12% fall in revenues to pounds 312m in the first four months of 2010 compared with the same period a year ago.
"What is potentially damaging to London is if the regulatory burden becomes too burdensome," the report quoted Michael Spencer, chief executive of
inter-dealer broker Icap, as saying.
ICAP is the world's largest
inter-dealer broker with an average daily transaction volume in excess of $700 billion.
It was recently reported that Michael Spencer, the founder of
inter-dealer broker Icap and treasurer of the UK's Conservative Party, has also put a painting, Modigliani's Cariatide, up as collateral for a loan.
Inter-dealer broker Icap was another prominent faller after a downgrade from Morgan Stanley brokers sent it 21p lower to 220.75p.
(NASDAQ:GFIG <http://studio-5.financialcontent.com/prnews?Page=Quote&Ticker=GFIG>) , a leading
inter-dealer broker specializing in over-the-counter derivatives products and related securities.
ICAP is the world's premier voice & electronic
inter-dealer broker with an average daily transaction volume in excess of 1.5 trillion.
Lena Komileva, a market economist at Tullett Prebon, an
inter-dealer broker, said: "It will have a positive impact on the money market, but it's unlikely that it will have any meaningful impact on unlocking mortgage markets."
Cowdrey, married to former top amateur rider Maxine (nee Juster), now assistant to Lady Herries, returned to his role as head of entertainment and charity for leading
inter-dealer broker BGC last month.