Top 5 Interdealer Brokers in London and New York

Interdealer Brokers (IDBs) are the middlemen for investment

banks dealing in billions of dollars worth of transactions everyday in currency, bonds, derivatives, stocks and credit markets. As they compete against one another their offerings are expanding, from property derivatives to Islamic products. IDBs do not take positions but collect commission for expediting orders and distributing market data which is where they make their money.

Here is a list of the 5 largest interdealer brokers headquartered in London and New York, by market capitalization.

1. ICAP, London - £2.62bn / $4.07bn

2. Tullett Prebon, London - £801.61m / $1.244bn

3. BGC Partners, New York - £772m / $1.2bn

4. GFI Group, New York - £585.39m / $909m

5. Collins Stewart, London - £199.5m / $310m

The top 4 brokers above account for nearly 70% of market activity and Collins Stewart operation is part of a wider range of offerings which includes Wealth Management.

On June 25th 2008, ICAP supported the Red Arrows as they performed their first ever aerial display above New York City as part of a larger North American goodwill tour.