ICAP, which matches buyers and sellers of bonds, swaps and currencies, has reported a 15.5 per cent fall in full-year trading profit as stricter capital requirement regulations forced banks to pull back from risky trading activities.

The business , which has focused its operations on electronic trading and post-trade services, said pre-tax profit for the year ended March 31 fell to £229 million from £271m a year earlier.

"Our bank customers have re-prioritised their sales and trading franchises and continued to reduce balance sheet risk," chief executive Michael Spencer said.

Bank deleveraging particularly hurt ICAP's global broking division, which saw a 29 per cent dip in trading operating profit.

However, its second half benefited from increased volatility helped by European Central Bank's quantitative easing plans and the speculation on the timing of a US interest rate rise, the company said.

This volatility failed to offset a seven per cent fall in group revenue to £1.27bn.

The company said its corporate restructuring was almost complete with an annualised cost saving target exceeding £70m.

ICAP said it would pay a final dividend of 15.4 pence, bringing its full-year dividend to 22 pence.