Icap has hired an experienced lobbyist to run regulatory affairs at its global broking division as the company looks to add the expertise required to shape its approach to Europe's updated Markets in Financial Instruments Directive trading rules, set to come into force in 2018.

In a September 5 statement, Icap said Arjun Singh-Muchelle will start immediately as global head of regulatory affairs and will report to Don McClumpha, chief operating officer of the global broking division. An Icap spokesman said the role was a new one.