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

Compagnie Financière Tradition, has reported earnings for the first nine months of the year. The firm saw revenues drop across

compagnie_financiere_tradition_134366Swiss-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.

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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 trading business for retail investors in Japan (Non-IDB) was up 25.4%.

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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.”

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