The invention relates to a process for the production of thermoplastic moulding compounds, in particular ABS, wherein at least a first reagent (11) and a second reagent (12) of the thermoplastic moulding compounds are fed to a gear pump (10) which comprises a housing and at least a first gear wheel that is rotatable relative to the housing about a first axis, and a second gear wheel that is rotatable relative to the housing about a second axis, wherein a loop conduit (29) is provided, and wherein the reagents (11, 12) are pressed in a loop through the loop conduit (29) and passing the gear wheels, whereby the reagents (11, 12) are dispersed to form a dispersion (15) in the gear pump (10). The invention also relates to a thermoplastic moulding compound that is produced by the inventive process.