Risk.net

ICG acquires 15% of newly created Creditex Group

Internet Capital Group (ICG) has taken a 15% stake in Creditex Group, just days after New York-based credit derivatives trading platform Creditex merged with London-based interdealer broker CreditTrade.

Pennsylvania-based ICG announced the merger had been completed before Creditex Group, which has offices in New York, New Jersey, London and Singapore, had even released public confirmation of the deal.

It said it used the cash proceeds of shares it previously held in CreditTrade as well as $9 mil