Interdealer broker ICAP has announced a change of name following the sale of its voice-broking arm, alongside disappointing financial results.

The group saw full-year trading pretax profit fall 11 percent to £203 million, hit by adverse currency movement. Revenue fell 6 percent to £1.2 billion.

The company is currently undergoing the sale of its voice service unit to Tullett Prebon plc, and will rebrand as NEX Group Plc once the sale completes.

“NEX Group Plc will be a fast moving, entrepreneurial pure electronic and post trade leader, well positioned for growth,” CEO Michael Spencer said in a statement.

“We wanted a name to truly reflect this and which was truly global.”

The group’s shares remain largely unaffected by the news, trading down 0.44 percent at 454.00 (0850GMT).

16/05/2016