Compagnie Financière’s H1 Financials Unable to Shake out of Consolidation

The group's H1 2016 revenue was marginally lower YoY, likely shackled by industry-wide volume slowdowns.

Compagnie Financière Tradition (CFT) SA, an Inter-dealer broker, has reported its H1 2016 consolidated revenues and financials, having undergone a general stagnation in these figures. The performance was largely coincided by a global lull in trading volumes that has afflicted the vast majority of institutional venues worldwide, barring an outlier case of June, which experienced the Brexit vote and fallout.

Looking at the specifics, CFT disclosed an H1 2016 revenue of $431.9 million (CHF 425.2 million) – this figure was reflective of a marginal drop from $433.3 (CHF 426.6 million) in H1 2015, of less than -1.0% YoY. The performance is largely consistent and is nearly identical to past readings out of the group, however the differential is slightly more magnified to -1.6% factoring differences in constant currencies.

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Yearly Analysis Slightly Improved

CFT’s consolidated revenues were pointed lower in Q2 2016, coming in at $209.0 million (CHF 205.8 million) during this period. Overall, this was lower by a more than Q1 2016 revenues, having yielded a figure of $222.9 million (CHF 219.5 million), falling by -6.2% QoQ. Over a yearly basis however, CFT’s latest revenues were slightly improved, justifying a YoY jump of 3.3% from $202.4 million (CHF 199.3 million) in Q2 2015.

CFT is currently one of the industry’s largest interdealer brokers, specializing in over-the-counter (OTC) financial and commodity related products. The group is present in 28 countries, which provides a range of products such as bonds, interest rate, currency and credit derivatives, equities, equity derivatives, interest rate futures, and index futures.

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