Interdealer broker firm ICAP donated all of its revenue and commission on Tuesday to a number of charities.
As part of its annual Charity Day, over 60 of its offices worldwide including its Singapore office, got brokers to donate their commission for the day to different beneficiaries. This year, donations from the Singapore office will go towards five charities including Habitat for Humanity Singapore, President's Challenge and The Leukemia and Lymphoma Foundation.
President Tony Tan Keng Yam, who was the guest-of-honour at the event, closed four trades worth US$2.5 billion ($3.14 billion). Last year, ICAP, one of the largest broker firms for financial institutions, raised £11 million ($22.6 million) at its charity event.
"I think as an interdealer broker, the main point we're trying to get across is for ICAP to donate its revenue and commissions to charities. Today's event is a combined effort of all our clients, staff and vendors united in the goal of reaching out to the less fortunate and needy," said Mr Anthony Warner, chief executive of ICAP Singapore.