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
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.
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.