ICAP has one subsidiary in the corporate debt market (ICAP Corporates LLC) and one associated company (First Brokers Securities LLC).

Corporate debt instruments are issued by companies and represent financial obligations of a corporation that have priority over its common stock and preferred stock in the case of bankruptcy. They incorporate corporate bonds, medium-term notes and commercial papers.

Depending on the issuer of these securities, corporate bonds can be sub-divided into classifications which include utilities, transportations, industrials and bank/finance companies.

ICAP's presence in the corporate debt marketplace is represented by the strength of its subsidiary, ICAP Corporates LLC, and its associated company, First Brokers Securities LLC. Each entity operates separately and individually to offer our customers a breadth of coverage and product strength amongst the sectors in which we specialise.