IAP.L Regulatory News (IAP)

ICAP plc Trading Statement

London, 27 March 2013 - ICAP plc (IAP.L), the world's leading interdealer broker and provider of post trade risk and information services, provides the following update in advance of the preliminary announcement of its results for the year ending 31 March 2013, which will be released on 14 May 2013.

As previously indicated, trading conditions for the nine months ended 31 December 2012 were extremely challenging. The start to the year benefitted from increased levels of issuance and volatility, with changes in Japanese monetary policy helping to drive higher electronic FX volumes. The increased activity levels seen in January and February have not continued at the same rate in March. The cost savings programme remains on track to deliver at least £60 million of annualised savings by the year end. Group revenue for the year ending 31 March 2013 is expected to be 13% below the previous year. Consequently, ICAP expects pre-tax profits for the year to 31 March 2013 to be around £280 million, in line with the lower end of the guidance provided in our Interim Management Statement on 7 February 2013.

Michael Spencer, Group Chief Executive Officer of ICAP, said: "While we had a better start to the fourth quarter, we are not yet seeing a sustained upturn with market activity remaining fragile and unpredictable. This is caused, in part, by the continued lack of clarity around new regulatory requirements and the impact they may have. Our cost savings programme has delivered as we had forecast. ICAP today is a more efficient organisation than a year ago. We also continue to invest in new platforms, products and services which I believe will drive our growth over the next two years."

Conference call

A conference call for analysts and investors will be held at 12.00 noon GMT on 27 March 2013 to discuss this statement. To dial in, please call +44 (0) 20 3003 2666. The access password is ICAP.

Contacts

About ICAP

ICAP is the world's leading interdealer broker and provider of post trade risk and information services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, FX, emerging markets and equity derivatives through voice and electronic networks. It operates several electronic market places. Through our post trade risk and information services we help our customers manage and mitigate risks in their portfolios.

Notes:

1. Profit is defined as pre-tax profits from continuing operations excluding acquisition and disposal costs and exceptional items.

2. This document contains forward-looking statements with respect to the financial condition, results and business of ICAP plc. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. ICAP plc's actual future results may differ materially from the results expressed or implied in these forward-looking statements.