ICAP Snags Brazil Broker

ICAP Snags Brazil Broker

Equity

London-based broker ICAP is acquiring Arkhe DTVM, a Sao Paulo-based BM&FBovespa broker, for $17m, or 6x the target’s post tax 2007 earnings. “ICAP's strategy in Latin America is to . . . establish a strong base in Brazil alongside our existing operations in Argentina, Chile, Colombia, Ecuador and Mexico,” Doug Rhoten, CEO of ICAP Americas tells LatinFinance. “Our aim is to [cover] the financial, equity, and commodities markets and to deploy [our] technology throughout the region,” he adds. Brazi

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