ICAP Enters Australian Agricultural and Soft Commodities Broking Market
ICAP, the world’s leading interdealer broker, announces that it is entering the Australian agricultural and soft commodities market in February with a new team. The team of three brokers, led by Gary Booth, was formerly at MF Global.
Based in Sydney, ICAP will broker OTC and exchange-traded agricultural products predominantly grains, wool, cotton and sugar to grain handlers, producers, exporters, trading houses, banks and hedge funds. The team will also offer broking services in cotton, soya beans, corn, milk cocoa, coffee, canola and sorghum.
Hugh Gallagher, Chief Executive Officer, ICAP, Asia Pacific said: “ICAP is delighted to extend its product offering to existing and new customers in a market with significant growth potential. As the leading interdealer broker in Asia, we are well placed to develop this business, first in Australia and then across the region.”
ICAP’s expansion into the Australian market extends its global footprint and depth of market and client coverage into Asia. ICAP already brokers all agricultural and soft commodities in North America, South America and Europe. With agriculture and soft commodities brokers in New York, Chicago, London, Sao Paulo and Louisville, ICAP provides execution services in both exchange-listed and OTC markets. ICAP also has teams on the floors of both the CBOT and ICE Futures U.S. (formerly NYBOT) exchanges, providing pit execution and real time information.