Compagnie Financière Tradition (SWX: CFT) generated revenue of CHF 646.2 million in the first half of 2026, up 10.4% at constant exchange rates, according to its latest trading update. The increase narrowed to 2.2% when translated into Swiss francs.
The result extended the growth reported in the first quarter of 2026, when revenue reached CHF 339.7 million. However, growth slowed during the following three months as the company faced a higher comparison base.
Tradition said the appreciation of the Swiss franc against most major currencies, particularly the US dollar and Japanese yen, reduced its reported revenue. The company operates in more than 30 countries, with much of its business generated outside Switzerland.
Second-Quarter Growth Slows to 3.6%
Revenue for the second quarter came in at CHF 306.5 million, down 1.1% from CHF 310.1 million a year earlier at current exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term rates. At constant rates, the figure increased 3.6%.
The quarterly performance followed a 17.4% constant-currency increase during the first quarter. Tradition said the comparison was affected by elevated activity in April 2025, when volatility rose after the United States announced new tariffs.
The company also cited geopolitical tensions, particularly in the Middle East, as a factor behind higher market activity earlier this year. Tradition did not provide a revenue forecast but said trading activity in July continued at the pace recorded during the first half.
| Metric | H1 2026 | H1 2025 | Current FX Change | Constant FX Change |
|---|
| Reported revenue under IFRS | CHF 597.8 million | CHF 580.1 million | +3.1% | +11.0% |
| Revenue including joint ventures | CHF 646.2 million | CHF 632.1 million | +2.2% | +10.4% |
| Interdealer broking | CHF 623.3 million | CHF 607.6 million | +2.6% | +10.4% |
| Retail investors | CHF 22.9 million | CHF 24.5 million | -6.7% | +8.9% |
Currency Movements Widen the Reporting Gap
Under IFRS, which excludes the proportionate contribution from joint ventures, first-half revenue rose to CHF 597.8 million from CHF 580.1 million. This produced growth of 3.1% at current exchange rates and 11% at constant rates.
The same currency effect was visible during the second quarter. Reported IFRS revenue declined 0.6% to CHF 283.6 million, although it increased 3.8% when exchange rates were held constant.
The Swiss franc also limited Tradition's reported growth in 2025. The company previously said the currency's appreciation against the US dollar and yen had reduced the value of overseas revenue when converted into its reporting currency.
Interdealer Broking Generates CHF 623 Million
Tradition's interdealer broking business generated CHF 623.3 million during the first six months of 2026. Revenue increased 10.4% at constant exchange rates and 2.6% in reported Swiss franc terms.
The division contributed CHF 295.7 million in the second quarter, compared with CHF 298.1 million a year earlier. This was a decline of 0.8% at current exchange rates but an increase of 3.6% at constant rates.
The retail investor business, which includes the company's Japanese operations, generated CHF 22.9 million in the first half. Revenue fell 6.7% in reported terms but rose 8.9% after adjusting for currency movements.
Second-quarter retail revenue was CHF 10.8 million, down from CHF 12 million a year earlier. On a constant-currency basis, the segment recorded growth of 3.6%.
Market Volatility Supports Interdealer Brokers
Tradition's results follow similar growth among other interdealer brokers during periods of higher trading activity. TP ICAP reported a 13% constant-currency increase in first-quarter revenue, with its global broking and energy and commodities divisions recording double-digit growth.
BGC Group also reported higher activity across its brokerage operations. Its full-year 2025 revenue increased 30% to $2.94 billion, supported partly by the acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of OTC Global Holdings, according to results published in February.
Tradition ended 2025 with revenue of CHF 1.2 billion, up 11.4% at constant exchange rates. Its profit before tax increased 25.3% to CHF 183.1 million, while net profit attributable to shareholders reached CHF 134.2 million.
Compagnie Financière Tradition (SWX: CFT) generated revenue of CHF 646.2 million in the first half of 2026, up 10.4% at constant exchange rates, according to its latest trading update. The increase narrowed to 2.2% when translated into Swiss francs.
The result extended the growth reported in the first quarter of 2026, when revenue reached CHF 339.7 million. However, growth slowed during the following three months as the company faced a higher comparison base.
Tradition said the appreciation of the Swiss franc against most major currencies, particularly the US dollar and Japanese yen, reduced its reported revenue. The company operates in more than 30 countries, with much of its business generated outside Switzerland.
Second-Quarter Growth Slows to 3.6%
Revenue for the second quarter came in at CHF 306.5 million, down 1.1% from CHF 310.1 million a year earlier at current exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term rates. At constant rates, the figure increased 3.6%.
The quarterly performance followed a 17.4% constant-currency increase during the first quarter. Tradition said the comparison was affected by elevated activity in April 2025, when volatility rose after the United States announced new tariffs.
The company also cited geopolitical tensions, particularly in the Middle East, as a factor behind higher market activity earlier this year. Tradition did not provide a revenue forecast but said trading activity in July continued at the pace recorded during the first half.
| Metric | H1 2026 | H1 2025 | Current FX Change | Constant FX Change |
|---|
| Reported revenue under IFRS | CHF 597.8 million | CHF 580.1 million | +3.1% | +11.0% |
| Revenue including joint ventures | CHF 646.2 million | CHF 632.1 million | +2.2% | +10.4% |
| Interdealer broking | CHF 623.3 million | CHF 607.6 million | +2.6% | +10.4% |
| Retail investors | CHF 22.9 million | CHF 24.5 million | -6.7% | +8.9% |
Currency Movements Widen the Reporting Gap
Under IFRS, which excludes the proportionate contribution from joint ventures, first-half revenue rose to CHF 597.8 million from CHF 580.1 million. This produced growth of 3.1% at current exchange rates and 11% at constant rates.
The same currency effect was visible during the second quarter. Reported IFRS revenue declined 0.6% to CHF 283.6 million, although it increased 3.8% when exchange rates were held constant.
The Swiss franc also limited Tradition's reported growth in 2025. The company previously said the currency's appreciation against the US dollar and yen had reduced the value of overseas revenue when converted into its reporting currency.
Interdealer Broking Generates CHF 623 Million
Tradition's interdealer broking business generated CHF 623.3 million during the first six months of 2026. Revenue increased 10.4% at constant exchange rates and 2.6% in reported Swiss franc terms.
The division contributed CHF 295.7 million in the second quarter, compared with CHF 298.1 million a year earlier. This was a decline of 0.8% at current exchange rates but an increase of 3.6% at constant rates.
The retail investor business, which includes the company's Japanese operations, generated CHF 22.9 million in the first half. Revenue fell 6.7% in reported terms but rose 8.9% after adjusting for currency movements.
Second-quarter retail revenue was CHF 10.8 million, down from CHF 12 million a year earlier. On a constant-currency basis, the segment recorded growth of 3.6%.
Market Volatility Supports Interdealer Brokers
Tradition's results follow similar growth among other interdealer brokers during periods of higher trading activity. TP ICAP reported a 13% constant-currency increase in first-quarter revenue, with its global broking and energy and commodities divisions recording double-digit growth.
BGC Group also reported higher activity across its brokerage operations. Its full-year 2025 revenue increased 30% to $2.94 billion, supported partly by the acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of OTC Global Holdings, according to results published in February.
Tradition ended 2025 with revenue of CHF 1.2 billion, up 11.4% at constant exchange rates. Its profit before tax increased 25.3% to CHF 183.1 million, while net profit attributable to shareholders reached CHF 134.2 million.
