A London based start-up backed by Icap has applied to become a trade repository under new European rules, as the interdealer broker commits to devoting more resources to its fintech investment vehicle after agreeing to sell its voice-broking operations to a rival.

Abide Financial, which received investment from Icap's fintech vehicle Euclid Opportunities in September, is seeking to become a trade repository under the European Market Infrastructure Regulation, it said on November 11.