World’s Largest Inter-dealer Broker in EBS Acquisition

Cleary Gottlieb represented ICAP Plc, the world’s largest inter-dealer broker, in its $876 million acquisition of EBS Group Limited, the leading electronic provider of spot foreign exchange trading services.

ICAP is the world’s largest inter-dealer broker, providing specialist intermediary brokering services to commercial and investment banks active on the wholesale financial markets, achieving an average daily transaction volume in excess of $1 trillion. EBS is the preeminent provider of foreign exchange trading and market data solutions to the professional spot foreign exchange trading community. The acquisition of EBS was conditional on receipt of US and UK antitrust approvals.