ICAP, (IAP.L), announced that it has been voted Overall Interdealer Broker of the Year in Asia Risk Magazine’s 2015 Interdealer Rankings. ICAP was voted Number One Broker in a total of 16 categories.

The awards are compiled by Asia Risk Magazine and are based on a regional poll of dealers and brokers, providing a reflection of how market professionals view their peers and service providers. That makes this very much an industry award and brings with it much prestige.

ICAP Asia-Pacific CEO Hugh Gallagher said,” I’m proud that ICAP Asia-Pacific has been awarded the accolade of being the number one broker.

For ICAP in 2014 China both onshore and offshore provided the most positive story. Onshore the JV with our partner CFETS is performing well.

Increasing activity in the renminbi foreign exchange markets is driving growth in ICAP’s offshore China business.”

In 2007 the UK-based broker formed a joint venture with the Shanghai-based China Foreign Exchange Trade System and National Interbank Funding Centre (CFETS) to provide broking services onshore in China, and Gallagher says this firm is gaining market share.

Hugh also said,”ICAP went through a rather necessary and stringent restructuring. Asia-Pacific was part of this and it was about getting ourselves streamlined and fit for purpose for the future. There are some pleasing signs in terms of activity and volatility across the regions that suggest this year will be better-not just for us but for the whole industry.”