ICAP, the global securities broker, and Volbroker, the electronic currency options platform, are to combine Volbroker's currency options dealing business and electronic dealing platform with ICAP's dealing business.

Volbroker, which is owned by a consortium of six banks, including Goldman Sachs and Citigroup, allows currency options dealers to trade with each other electronically. ICAP, through a joint venture with Tradition, the Swiss money broker, runs one of the most active currency options dealing businesses for traders who deal over the telephone.