Risk.net

ICG takes stake in Creditex

Pennsylvania-based Internet Capital Group (ICG) has taken a 15% stake in Creditex Group, just days after it was formed from London-based interdealer broker CreditTrade and New York-based electronic trading platform Creditex.

ICG announced the merger had been completed before Creditex Group, which has offices in New York, New Jersey, London and Singapore, had released public confirmation of the deal. It said it used the cash proceeds of shares it previously held in CreditTrade, as well as $9 m