TP ICAP Sees 1% Decline in H1 Revenue, Liquidnet Brings £55 Million
- Liquidnet numbers pumped the revenue of the company significantly.
TP ICAP plc (LON: TCAP), a major London-based interdealer broker, has published the trading update for the first half of 2021 today. The company reported a slide in its overall revenue mostly due to the after-effects of Covid-19 on the global economy.
According to the official figures, the overall revenue of the company in the past six months came in at £936 million. This figure is 1 percent lower than last year on a constant currency basis and declined 5 percent on a reported basis.
In a statement, TP ICAP CEO Nicolas Breteau pointed out that the revenue figure reflects challenging trading conditions ‘caused by the combination of very quiet secondary markets and the ongoing disruption from COVID-19’.
Earlier, TP ICAP reported a significant 9 percent dip (on a constant currency basis) in its revenue in the first quarter of the ongoing year.
Liquidnet Figures Added
In addition, the figures for the second quarter remained significant as the interdealer broker completed the acquisition of Liquidnet in late March and consolidated the revenue figures. Q2 became the first full quarter considering Liquidnet’s revenue.
TP ICAP reports its revenues in four divisions: global broking, energy & commodities, agency executions (which include Liquidnet), and Parameta Solutions that include data and analytics and post-trade services. Though the revenue from the first two units contracted by 7 percent and 9 percent, respectively, the other two gained by 84 percent and 6 percent.
Liquidnet, which is a dark pool operator, generated £55 million in the last six months. Without accounting for this number, the overall revenue of TP ICAP declined by 7 percent on a constant currency basis.
Given the market conditions and trends in trading, the company is now expecting to close the year with overall revenue, excluding Liquidnet, to be broadly in line with 2020.
“In terms of corporate development, this has been a busy and successful period.” Breteau added, “We have continued to execute our organic strategy to electronify our business to improve margins over time, connect clients with Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term more efficiently and diversify our revenue mix. In addition, we have continued to innovate, going live with a new fully automated Spot FX matching platform and announcing the launch of a pioneering wholesale Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for spot crypto-assets.”
TP ICAP plc (LON: TCAP), a major London-based interdealer broker, has published the trading update for the first half of 2021 today. The company reported a slide in its overall revenue mostly due to the after-effects of Covid-19 on the global economy.
According to the official figures, the overall revenue of the company in the past six months came in at £936 million. This figure is 1 percent lower than last year on a constant currency basis and declined 5 percent on a reported basis.
In a statement, TP ICAP CEO Nicolas Breteau pointed out that the revenue figure reflects challenging trading conditions ‘caused by the combination of very quiet secondary markets and the ongoing disruption from COVID-19’.
Earlier, TP ICAP reported a significant 9 percent dip (on a constant currency basis) in its revenue in the first quarter of the ongoing year.
Liquidnet Figures Added
In addition, the figures for the second quarter remained significant as the interdealer broker completed the acquisition of Liquidnet in late March and consolidated the revenue figures. Q2 became the first full quarter considering Liquidnet’s revenue.
TP ICAP reports its revenues in four divisions: global broking, energy & commodities, agency executions (which include Liquidnet), and Parameta Solutions that include data and analytics and post-trade services. Though the revenue from the first two units contracted by 7 percent and 9 percent, respectively, the other two gained by 84 percent and 6 percent.
Liquidnet, which is a dark pool operator, generated £55 million in the last six months. Without accounting for this number, the overall revenue of TP ICAP declined by 7 percent on a constant currency basis.
Given the market conditions and trends in trading, the company is now expecting to close the year with overall revenue, excluding Liquidnet, to be broadly in line with 2020.
“In terms of corporate development, this has been a busy and successful period.” Breteau added, “We have continued to execute our organic strategy to electronify our business to improve margins over time, connect clients with Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term more efficiently and diversify our revenue mix. In addition, we have continued to innovate, going live with a new fully automated Spot FX matching platform and announcing the launch of a pioneering wholesale Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term for spot crypto-assets.”