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TP Icap: ‘Too early’ to call the return of market volatility

Interdealer broker's first year as a combined entity reported pre-tax profits of £233m

TP Icap: ‘Too early’ to call the return of market volatility

The chief executive of interdealer broker TP Icap has warned it would be premature to bank on recent market volatility permanently returning to markets.

John Phizackerley, the former Nomura and Lehman Brothers banker, said it is "too early to tell" whether the pick-up in volatility and interest rates is "sustainable".

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