TP ICAP Set to List Data Unit in US as Soon as Second Quarter

British brokerage TP ICAP Group Plc said it could list its data unit in the US as soon as the second quarter, highlighting the UK’s struggle to compete with New York for equity capital markets activity.

The London-based company said Tuesday it was progressing with strategic options for its Parameta Solutions business, according to a statement. TP ICAP said last year that the listing could get better liquidity in New York than in the UK, and a US listing would also better reflect the unit’s mostly dollar-denominated revenue.

“Our focus is a listing in the United States, with the ...