LeapRate has learned via filings made to the London Stock Exchange that investment giant BlackRock, Inc. (NYSE:BLK) has taken a 4.74% stake in interdealer broker and electronic markets operator ICAP plc (LON:IAP).
BlackRock now holds 30.93 million ICAP shares, worth at today’s prices £133.6 million (USD $194 million).
With $4.6 trillion in assets under management, BlackRock is the world’s largest asset manager that provides guidance to individuals, financial professionals and institutions.
BlackRock is also no stranger to investments and agreements with leading electronic brokers.
BlackRock was a significant investor in retail forex broker FXCM Inc (NYSE:FXCM) for a number .of years, although after FXCM’s troubles which began with last January’s Swiss Franc spike BlackRock has sold down its position from about 7% in Q1 2015, to virtually nil today.
BlackRock took a 5% stake in UK online brokerage leader IG Group Holdings plc (LON:IGG) in mid 2014.
More recently, BlackRock has inked agreements with IG Group and with Saxo Bank for investor products such providing automated portfolio management services for retail investors, to introducing ETF portfolios.
Managing such a large amount of money (it is hard to fathom $1 trillion in ‘real’ money, mind you 4.6 times that) when BlackRock does things it does them big. We’re keen to find out if this is just the firsts step in BlackRock taking a larger stake in ICAP.