TP ICAP Completes Liquidnet Acquisition


London-based broker TP ICAP says it has completed the acquisition of private trading operator Liquidnet and its subsidiaries.

March 24, 2021 | AtoZ Markets TP ICAP plc (LON:TCAP), the world’s biggest inter-dealer broker on Wednesday confirmed that it has completed the acquisition of Liquidnet Holdings, Inc.

The acquisition of Liquidnet creates a diversified global markets infrastructure and data solutions provider. The enlarged group is well-positioned to benefit from powerful market structure trends related to buyside objectives.

These include achieving trade process efficiency and best execution, which are propelling the rapid electronification of financial market trading across multiple asset classes and, in particular, in the dealer-to-client segments of the Credit and Rates markets.

Commenting on the acquisition, the Chief Executive Officer of TP ICAP, Nicolas Breteau, said:

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“Completing the acquisition of Liquidnet is an important milestone for TP ICAP. Bringing together two highly complementary businesses transforms our growth prospects by materially accelerating the execution of our strategy. Our focus now is on the swift integration of Liquidnet and realising the compelling opportunities to drive higher revenues and returns to shareholders.”

As AtoZ Markets previously reported, in October 2020, TP ICAP said it had agreed on the definitive terms to acquire the entire issued share capital of Liquidnet Holdings, Inc.

Back then, TP ICAP put the total consideration at between $575 million and $700 million, comprising cash consideration of $525 million (subject to customary adjustments) payable on completion of the acquisition, non-contingent deferred consideration of $50 million and contingent consideration of up to $125 million.

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