Yes, I think that there should be some reciprcal arrangements between ACCA , ICAP and ICMAP,but ICAP will perhaps not bear the presence of its rivals in the market.I expect that ICAP will make its exemption policy more strict rather than giving some lexity in its exemption policy.
As a student of ACCA I feel quite easy and relaxed that ACCA has now become a proper competitor or ICAP.