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Icap recovering after WTC attacks

WORLD TRADE CENTER AFTERMATH

NEW YORK -- Icap, the world’s largest interdealer broker for interest rate swaps, had by mid-October substantially rebuilt its New York broking business following the loss of its entire New York office space, which took up three levels in the destroyed World Trade Center (WTC).

Michael Spencer, group chief executive officer of Icap, formerly Garban-Intercapital, said in a statement on Icap’s trading since September 11 that its electronic trading platform, ETC, was operating for the majority