Compagnie Financière Tradition Revenues Drop 8.7% However FX Business in the Green

Swiss-listed, Compagnie Financière Tradition, a leading multi-asset specialist inter-dealer broker reported disappointing results for the first nine months of 2013, as compared to figures reported in 2012.

The Group reported consolidated IFRS revenue of CHF 679.5m (US$761m) for the first nine months of the year compared with CHF 744.5m in same period in 2012, a decrease of 8.7% at current exchange rates or 6.1% in constant currencies.

For the same period, the Group's consolidated Non-IFRS revenue was CHF 727.9m, compared with CHF 790.6m in 2012, a decrease of 4.8% at constant exchange rates. The Non-IFRS revenue from interdealer broking business (IDB) was down 5.5% in constant currencies, while the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term trading business for retail investors in Japan (Non-IDB) was up 25.4%.

Compagnie Financière Tradition share price is trading at 49.25, trading at the days high.

In the third-quarter, consolidated Non-IFRS revenue was CHF 217.0m, down 5.7 % in constant currencies from the equivalent quarter last year.

Tradition was granted SEF status in September, before the CFTC deadline of October the second. According to its website: “TraditionSEF will operate markets for Interest Rates Swaps, Credit Swaps, Equity Derivatives, Commodity Derivatives, Foreign Exchange options and NDFs, in cleared and uncleared swaps as markets determine.”