TP ICAP Reports 10% Dip in Global Broking Revenues during Q1 2021

TP ICAP, a leading global markets infrastructure and data solutions provider, released a trading update today for the three months ended 31 March 2021. The Group reported revenues of £483 million during Q1 of 2021, which is a dip of approximately 9% on a constant currency basis compared to the same period in 2020.

According to the official announcement, the total global broking revenues reached £312 million in Q1 of 2021, which is a reduction of 10% compared to Q1 of 2020. During the first three months of 2020, TP ICAP saw total global broking revenues of £348 million.

Total revenues from energy and commodities reached £101 million in Q1 of 2021, which is down 12% from Q1 of 2020. During the first quarter of 2020, TP ICAP saw total revenues of £115 million from energy and commodities.

Commenting on the latest trading update, Nicolas Breteau, Chief Executive Officer of TP ICAP, said: “Following the exceptional revenue performance by the Group in Q1 2020 driven by extreme Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term across all asset classes, these results represent a solid performance for the Group in the first quarter of 2021. The Group delivered revenues of £483m for the Period, a reduction of 9% on a constant currency basis compared to Q1 2020. However, when compared to the normalized conditions that prevailed in Q1 2019, the Group grew revenues in Q1 2021 by 6%, which is a testament to the strength and depth of the Group's business mix and the hard work of our employees, still operating under Covid constraints."

2021 Guidance

Regarding 2021 guidance and outlook, TP ICAP mentioned that the trading activity in April 2021 remained in line with the Group’s full-year guidance. TP ICAP’s full-year guidance of low single-digit revenue growth on a constant currency basis, excluding Liquidnet revenues, remained unchanged.

"We are positive about the prospects of our Group. Across the board, our client franchises remain very strong as we continue to diversify and transform our business, invest in our people and technology, whilst maintaining cost discipline,” Breteau added.

In April 2021, TP ICAP announced the launch of Parameta Solutions.