This Friday, Compagnie Financiere Tradition (CFT) released its financial report for the first half of 2018. The interdealer broker appears to have performed well thus far this year, with significant increases in revenue when compared to last year.
In fact, the firm had its best half-year performance since 2013. If the firm manages to equal, or surpass, the total level of revenue it earned in the first half of this year in the second half of the year, then it will have achieved some its highest levels of revenue since its founding. Unfortunately for the firm, it has also done worse in the second half of the year, in terms of revenue, for the past five years.
At the end of June last year, CFT reported total revenue of CHF 411.4 million ($413.63 million). Today’s report indicates that, in the first half of this year, CFT saw year-on-year growth in its revenue of 10.3 percent, with the firm’s revenues totaling CHF 459.8 million ($462.30 million).
The FX Global Code – Is Self-Regulation the Future of the Industry?Go to article >>
Second quarter growth
For the second quarter of this year, the firm reported total revenue of CHF 230.2 million ($231.25 million). In constant currencies, this represented 12.9 percent year-on-year growth with the firm recording total revenues of CHF 198 million ($198.90 million) in the second quarter of last year.
Growth was driven by increases in revenue from the firm’s interdealer brokerage business and FX trading business. In the firm’s interdealer broker business, revenues increased by 11 percent from last year. Unfortunately, the firm did not reveal the precise figures involved, providing only a percentage increase.
Sadly, the same was true for the firm’s retail FX business in Japan, Gaitame. CFT only stated the growth of revenues in its Japanese retail FX trading service revenues, which is regulated by the Financial Services Agency, in percentage terms. According to the firm’s statement, Gaitame’s revenues grew by 21.4 percent when compared to the first half of last year.