The electronic and post-trade businesses at interdealer broker Icap stood out as the bright spots for the firm in the three months to the end of December, as overall revenues for the period were flat.

Revenues for the London-headquartered firm were 1% lower on a constant-currency basis, and 2% lower on a reported basis, than for the same period in 2013, according to Icap's interim statement published on Tuesday. Organisations with large foreign operations frequently use constant currency as a means to show performance without the effect of foreign-exchange rate fluctuations.