Based in Sydney, ICAP will broker OTC and exchange-traded agricultural products predominantly grains, wool, cotton and sugar to grain handlers, producers, exporters, trading houses, banks and hedge funds. According to ICAP, the team will also offer broking services in cotton, soya beans, corn, milk cocoa, coffee, canola and sorghum.

“ICAP is delighted to extend its product offering to existing and new customers in a market with significant growth potential. As the leading interdealer broker in Asia, we are well placed to develop this business, first in Australia and then across the region,” ICAP, Asia Pacific CEO Hugh Gallagher said.

ICAP already brokers all agricultural and soft commodities in North America, South America and Europe. With agriculture and soft commodities brokers in New York, Chicago, London, Sao Paulo and Louisville, ICAP provides execution services in

both exchange-listed and OTC markets. ICAP also has teams on the floors of both the

CBOT and ICE Futures US (formerly NYBOT) exchanges, providing pit execution and real time information.

In Australia, ICAP is a leading interdealer broker active in foreign exchange; OTC interest rate swaps and options; government, semi-govt, corporate and inflation-linked bonds: cash and treasury products; electricity and environmental credits; and exchange-traded interest rate futures and options.