Icap raises £2.8 million in charity day

UK-based interdealer broker Icap donated £2.8 million – its total broking commissions for December 12 – to a range of charities around the world. The brokerage’s ninth annual charity day involved 12 offices and began with the opening of trading in Sydney.

This year, 75% will go to World Trade Center-related charities, including the Cantor Fitzgerald UK Charitable Relief Fund and the Euro Brokers Relief Fund - two brokers that suffered large losses as a result of the attacks. Icap is also donating money to charities in Afghanistan and Bart’s Cancer Centre for Excellence in the UK.

"September 11 brought new meaning to charity day this year," said chief executive Michael Spencer. Icap’s New York office, in conjunction with the New York broking community, staged its own charity day on October 16, raising $1 million for WTC-related charities.

Back at Icap’s headquarters, the London office contributed about £1.8 million to the total.

Icap said its profits were well up compared with takings earlier in the month, indicating that many in the industry had directed extra trades towards Icap for the day’s charitable takings.