Liquidnet’s electronic network integrates extensive buyside trade workflow connectivity and includes advanced incorporations with all execution management and major order management systems. Alongside its hopes to achieve new growth opportunities, TP ICAP also expects to take advantage of analytics and data assets expertise from both organisations in order to push non-transaction-related revenues.
The overall consideration for the acquisition is said to be between $575 million and $700 million. These numbers comprise cash of $525 million, which are subject to customary adjustments and payable upon completion. The cash figure has a deferred consideration of $50m and contingent deferred consideration of up to $125 million.
March 2020 saw the Group identifying three key strategic pillars to underpin its medium-term growth strategy — electronification, aggregation of liquidity and diversification of revenues. On 1st December 2020, TC ICAP held a Capital Markets Day at which senior management presented in lengthy detail exactly how the strategy would be executed across the Group and how it would potentially shape the outcome of final results this time next year after what is a hopefully less volatile 2021.
TP ICAP Group recently announced the appointment of Andrew Polydor as Head of Global Markets. The newly created position has Polydor overseeing the Group’s Global Broking division in addition to his role as head of TP ICAP’s Energy & Commodities division which he has held for the past 12 years.
