ICAP CEO Michael Spencer is at the center of a revolution of the over-the-counter derivatives market. He said he is optimistic about "electronification" of OTC derivatives, as he has been interested in getting away from voice broking for some time. ICAP appears poised to not only weather the regulatory overhaul but also to capitalize on it. "Regulation is extremely important to us," Spencer said. "We are right at the beginning of a major shift in the OTC markets as the regulators look to take them increasingly electronic."