Markets operator and provider of post trade risk mitigation and information services ICAP plc (LON:IAP) today unveiled its new name – NEX Group plc, which will be adopted after the completion of the proposed transaction by ICAP to sell its global hybrid voice broking and information business to Tullett Prebon Plc (LON:TLPR).
Under the transaction agreement, the ICAP brand will be transferred to Tullett Prebon.
ICAP will begin to trade as NEX Group plc from day one following completion of the proposed transaction. Until that moment, the company will continue to be known as ICAP.
NEX Group plc will focus on electronic markets and post trade business.
ICAP has secured rights to the top level domains nex.com and nex.co.uk as well as a set of associated domains. The company is poised to use the symbol NXG as its trading ticker symbol after the completion of the transaction.
You can view the official announcement on the renaming by clicking here.