History
The company developed from a merger between Garban plc and Intercapital plc which created Garban-Intercapital plc in 1999.
Intercapital plc was originally founded by Michael Spencer in 1986 as Intercapital Private Group Limited ('IPGL'); in 1998 it was acquired by Exco plc in a reverse takeover and the enlarged business was renamed Intercapital plc.
Garban plc was originally established in the 1970s as the financial services division of MAI plc. Several takeovers followed, starting in 1977 when MAI plc acquired Harlow, Meyer and Co. Mallon & Dorney and Garvin GuyButler were both acquired by 1982 and in 1983, Garban LLC was acquired giving MAI plc significant broking interests in the UK and overseas. In 1996, MAI plc was merged into United News & Media plc: its financial services division was then de-merged and listed on the London Stock Exchange in 1998 as Garban plc.
The company changed its name from Garban-Intercapital plc to ICAP plc in 2001.
In 2006 it bought EBS, a major trading platform for foreign exchange.
On 5 December 2007, ICAP acquired Traiana, Inc. for $247 million (£121 million). Traiana is a provider of post-trade processing, client servicing, and trading partner integration solutions for financial institutions. The company is headquartered in New York and has a development centre in Tel Aviv, Israel.
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