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TP ICAP sees slow start to H2 with lower July volumes

Aug 7 – TP ICAP, the world’s largest inter-dealer broker, said on Friday its second-half started with lower July volumes, as the early euphoria in its broking business caused by the pandemic has started to fade as lockdown restrictions eased.

The company, which brings together buyers and sellers in financial, energy and commodities markets, said underlying pretax profit was 136 million pounds ($178.55 million), for the six months ended June 30, compared with 134 million pounds a year ago.

($1 = 0.7617 pounds) (Reporting by Tanishaa Nadkar in Bengaluru, Editing by Sherry Jacob-Phillips)

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