Demand in its global brokering business started to increase in October.
TP ICAP PLC (LON: TCAP), an interdealer broker, has published its Group financial results for the third quarter of 2020, showing a significant decline in its revenues coming from its global brokerage unit and its overall business.
The total quarterly revenue for the period ending on September 30, came in at £388 million. That was a year-on-year decline of 6 percent at a constant currency rate and 19 percent after Exchange rate translations.
The Group’s global broking business remained the worst hit with a 19 percent decline in total revenue to £260 million, compared to last year’s £320 million. The energy and commodities unit of the company went down by 15 percent, while the institutional services slumped by 16 percent.
On the other hand, demand for TP ICAP’s data and Analytics services increased by 9 percent with quarterly revenue of £36 million.
Considering the nine month’s numbers, TP ICAP’s revenue declined marginally by 1 percent to £1,378. Its global broking business was the only unit with a decline in revenue for that period with a 5 percent decrease on a constant currency basis.
The demand for institutional services jumped the most with a 28 percent yearly increase in a nine month period, while energy and commodities, and data and analytics units gained 5 percent and 8 percent respectively.
“Over a nine-month period of substantial economic dislocation, TP ICAP's business has been resilient. We have implemented a targeted cost efficiency program that will provide further support to our earnings power in an operating environment that remains uncertain,” TP ICAP CEO, Nicolas Breteau said.
Expecting to See Good Numbers in Q4
In its full-year guidance, the Group projected a positive outcome. It has already seen an increase in the broking business during October and also made significant investments in the sales capabilities of its data and analytics business.
Meanwhile, the Group is in the process of acquiring Liquidnet Holdings and its subsidiaries and has agreed to pay up to $700 million.
“I am excited by the prospects for each of our businesses, and for the additional opportunities that Liquidnet will bring. Our franchises are strong, and our clients value our critical role in the global financial market structure,” Breteau added.
TP ICAP PLC (LON: TCAP), an interdealer broker, has published its Group financial results for the third quarter of 2020, showing a significant decline in its revenues coming from its global brokerage unit and its overall business.
The total quarterly revenue for the period ending on September 30, came in at £388 million. That was a year-on-year decline of 6 percent at a constant currency rate and 19 percent after Exchange rate translations.
The Group’s global broking business remained the worst hit with a 19 percent decline in total revenue to £260 million, compared to last year’s £320 million. The energy and commodities unit of the company went down by 15 percent, while the institutional services slumped by 16 percent.
On the other hand, demand for TP ICAP’s data and Analytics services increased by 9 percent with quarterly revenue of £36 million.
Considering the nine month’s numbers, TP ICAP’s revenue declined marginally by 1 percent to £1,378. Its global broking business was the only unit with a decline in revenue for that period with a 5 percent decrease on a constant currency basis.
The demand for institutional services jumped the most with a 28 percent yearly increase in a nine month period, while energy and commodities, and data and analytics units gained 5 percent and 8 percent respectively.
“Over a nine-month period of substantial economic dislocation, TP ICAP's business has been resilient. We have implemented a targeted cost efficiency program that will provide further support to our earnings power in an operating environment that remains uncertain,” TP ICAP CEO, Nicolas Breteau said.
Expecting to See Good Numbers in Q4
In its full-year guidance, the Group projected a positive outcome. It has already seen an increase in the broking business during October and also made significant investments in the sales capabilities of its data and analytics business.
Meanwhile, the Group is in the process of acquiring Liquidnet Holdings and its subsidiaries and has agreed to pay up to $700 million.
“I am excited by the prospects for each of our businesses, and for the additional opportunities that Liquidnet will bring. Our franchises are strong, and our clients value our critical role in the global financial market structure,” Breteau added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Noel Quinn's Surprise Exit Marks End of an Era at HSBC
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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