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Michael Spencer, the founder multi-millionaire ICAP is the principal funder of the Exotix. Photo: Geoff Pugh

Exotix is in talks with several potential partners, including banks and equity companies on a mooring that could see it sells a stake in the company of an agreement to give the broker access to more funds.

Michael Spencer, the founder multi-millionaire broker broker ICAP is also principal of the Exotix, with a stake in the company by its vehicle investment IPGL.ICAP 1pc 43 separately has a game with other 37pc 9pc 19 shares held by the direction of Exotix.

A joint venture agreement should be signed at the beginning of next year and could be structured along the lines of agreements as between the Bank and broker Cazenove Queen us JP Morgan.

"Exotix offers a potential partner a first look at what some of these stories of exciting growth for the coming years will be", said a source of knowledge of the discussions.

Exotix specialises in obtaining investors access to countries where conventional financing companies bother rarely venturing as the Iraq, Cuba and North Korea.

Private placements which companies sell actions for themselves directly to investors without using the stock market, became one of the specialities of the company he has helped businesses ranging from telecommunications Turkish cement Iraqi groups decision makers raise money.

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