The three main UK operating entities generated a combined revenue of £2.74 billion.
It also plans to invest €1 billion in a data center complex in Finland to support its expanding computational needs.
XTX
Markets, the algorithmic trading firm founded by former Deutsche Bank trader
Alexander Gerko, reported a more than 50% increase in earnings for 2024 as the
company capitalized on market volatility and expanded its global trading
operations.
XTX Markets Posts Record
£1.28 Billion Profit
The
London-based market maker's three main UK operating entities generated a combined
revenue of £2.74 billion last year, up from £2 billion in 2023, according to
company documents. Net profit reached a record £1.28 billion, compared with
£835 million the previous year.
XTX
Technologies, the company's largest UK entity, led the growth with a revenue of
£2.04 billion in 2024, up from £1.35 billion in 2023. XTX Markets Trading Limited
contributed £636 million, while XTX Markets Limited added £61 million to the
total.
At XTX
Technologies, the company paid 113 staff an average of £435,814 last year, a
33% increase from 2023's average of £326,735. In March, the entity also paid a
dividend of £404 million to its holding company, which is controlled by Gerko.
The firm's
performance highlights the growing dominance of algorithmic trading firms that
have captured market share from traditional financial institutions. XTX's
results come as rival Citadel Securities reported $9.7 billion in net trading
revenue for 2024, a 55% increase from the previous year.
The
company's success has made Gerko, who owns approximately 75% of XTX, one of
Britain's wealthiest individuals with an estimated net worth exceeding $10
billion.
Joshua Leahy, Chief Technology Officer at XTX Markets
XTX has
invested heavily in advanced computing infrastructure, including more than
25,000 graphics processing units (GPUs), primarily from Nvidia. Earlier this
year, the company announced plans
to invest €1 billion in a data center complex in Finland to support its
expanding computational needs. The facility is expected to be operational by
2026 with an initial computing capacity of 22.5 megawatts.
“We're
building ahead of our needs to establish a backbone for future growth,” said
Joshua Leahy, Chief Technology Officer at XTX Markets. “Our need for compute
has outgrown available leasing options.”
Founded in
2015, XTX has rapidly established itself as one of the world's largest
algorithmic trading firms, handling approximately $250 billion in daily trading
volume across 35 countries. The company employs more than 250 people globally
and has expanded beyond its initial focus on foreign exchange markets to trade
equities, fixed income, commodities, and cryptocurrencies.
XTX
Markets, the algorithmic trading firm founded by former Deutsche Bank trader
Alexander Gerko, reported a more than 50% increase in earnings for 2024 as the
company capitalized on market volatility and expanded its global trading
operations.
XTX Markets Posts Record
£1.28 Billion Profit
The
London-based market maker's three main UK operating entities generated a combined
revenue of £2.74 billion last year, up from £2 billion in 2023, according to
company documents. Net profit reached a record £1.28 billion, compared with
£835 million the previous year.
XTX
Technologies, the company's largest UK entity, led the growth with a revenue of
£2.04 billion in 2024, up from £1.35 billion in 2023. XTX Markets Trading Limited
contributed £636 million, while XTX Markets Limited added £61 million to the
total.
At XTX
Technologies, the company paid 113 staff an average of £435,814 last year, a
33% increase from 2023's average of £326,735. In March, the entity also paid a
dividend of £404 million to its holding company, which is controlled by Gerko.
The firm's
performance highlights the growing dominance of algorithmic trading firms that
have captured market share from traditional financial institutions. XTX's
results come as rival Citadel Securities reported $9.7 billion in net trading
revenue for 2024, a 55% increase from the previous year.
The
company's success has made Gerko, who owns approximately 75% of XTX, one of
Britain's wealthiest individuals with an estimated net worth exceeding $10
billion.
Joshua Leahy, Chief Technology Officer at XTX Markets
XTX has
invested heavily in advanced computing infrastructure, including more than
25,000 graphics processing units (GPUs), primarily from Nvidia. Earlier this
year, the company announced plans
to invest €1 billion in a data center complex in Finland to support its
expanding computational needs. The facility is expected to be operational by
2026 with an initial computing capacity of 22.5 megawatts.
“We're
building ahead of our needs to establish a backbone for future growth,” said
Joshua Leahy, Chief Technology Officer at XTX Markets. “Our need for compute
has outgrown available leasing options.”
Founded in
2015, XTX has rapidly established itself as one of the world's largest
algorithmic trading firms, handling approximately $250 billion in daily trading
volume across 35 countries. The company employs more than 250 people globally
and has expanded beyond its initial focus on foreign exchange markets to trade
equities, fixed income, commodities, and cryptocurrencies.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
iFOREX Adds Saudi and South Korean Equity CFDs as IPO Is Delayed
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
