TP ICAP acquires algorithm-based compression services provider ClearCompress

Maria Nikolova

The consideration for the acquisition is £750,000 in cash to be paid over two years, and performance-related payments for the six years starting September 1, 2019.

TP ICAP PLC (LON:TCAP) has earlier today announced the acquisition of ClearCompress Limited, a provider of innovative, algorithm-based, light-touch compression services in cleared and uncleared derivatives.

The two companies commenced their collaboration in 2017. Back then, ClearCompress contributed development and algorithm expertise and TP ICAP contributed access to clients and support infrastructure. The parties deepened their relationship in March 2019 when TP ICAP agreed to provide funding of £500,000 and the benefit of its regulated status to ClearCompress. The parties have now agreed to formalise their relationship with the acquisition of ClearCompress by TP ICAP.

The key team members of ClearCompress, including CEO David Hill, will remain with the business.

The sellers of ClearCompress are the founders, early-stage investors and management team. The consideration for the acquisition is £750,000 in cash to be paid over two years, and performance-related payments for the six years starting September 1, 2019 until August 31, 2025 based on the revenues of the business, payable annually in cash or shares at the discretion of TP ICAP.

The gross assets of ClearCompress at end-January 2019 amounted to £88,152 and the business reported a loss before tax of £346,606 for the year ended January 31, 2019.

Nicolas Breteau, CEO of TP ICAP, said, “The acquisition of ClearCompress is in line with our strategy to broaden our customer service offering. The compression runs we have conducted demonstrate excellent outcomes for our clients. We are delighted to welcome this innovative company with its expertise in algo-driven capital optimisation solutions to our group and we are excited to move forward and grow the business together.”

Read this next


Is the Bank of England facing another storm? Op-Ed by Stuart Cole, macro economist at Equiti Capital

An analysis and opinion editorial by Stuart Cole, macro economist at Equiti Capital, 3 October 2022 on what triggered the UK gilt market sell-off and is the Bank of England facing another storm?

Industry News

Kim Kardashian fined $1 million for touting EMAX tokens on social media

“Investors are entitled to know whether the publicity of a security is unbiased, and Ms. Kardashian failed to disclose this information.”

Retail FX

INFINOX launches IX Exchange platform with +20,000 markets in UK

“The launch of IX Exchange is a statement of intent for our growth strategy and a game-changer for our clients’ trading potential.”

Retail FX

Saxo issues gloomy report for Q4 2022 and beyond

Globalisation was the biggest driver behind low inflation over the past 30 years and instrumental for emerging markets and their equity markets. Globalisation in reverse will cause turmoil for trade surplus countries, put upward pressure on inflation and threaten the USD as the reserve currency.

Executive Moves

ICE appoints Caterina Caramaschi to oversee interest rates and equity derivatives

“As the head of a product set covering some of the biggest interest rate and equity derivative benchmarks, at a time when investor’s priorities are firmly focused on interest rate changes and the outlook for global economies, Caterina’s two decades of financial market experience, and the relationships cultivated during that, will be invaluable in developing these products to the benefit of our customers.”

Retail FX

Plus500 sponsors Chicago Bulls ahead of trading platform launch in United States

Plus500 has signed a major multi-year sponsorship deal to become an official global partner of iconic NBA team Chicago Bulls. 

Technology adds stock options APIs to market data platform that includes FX and Crypto has launched a new set of stock options APIs to its entirely self-serve real-time data APIs, which includes stocks, crypto, forex, and options APIs free to use.

Market News

What’s in store for markets this week!

After The UK government unveiled their top tax rate cut, setting fire to GBP Cross pairs, prompting an intensive sell-off on the cable


FinanceFeeds Podcast Ep. #7: Exness’s Elena Krutova shares how to recruit the best talent in FX

FinanceFeeds is delighted to announce the release of the FinanceFeeds Podcast’s seventh episode featuring Elena Krutova, Chief People Officer of Exness, the renowned FX and CFD broker headquartered in Cyprus.