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TP ICAP's third-quarter revenue rises as market volatility boosts trading

By Reuters News

Nov 3 (Reuters) - British inter-dealer broker TP ICAP TCAPI.L reported an 11% increase in its third-quarter revenue on Tuesday, as volatile markets continue to boost trading activity among its clients.


  • Volatile capital markets, driven by inflation concerns and geopolitical uncertainty, boosted trading activity at TP ICAP as clients traded more frequently in response to market swings

  • The company reported group revenue of £620 million ($831.05 million) for the three-month period ended September 30, up 11% on constant-currency basis

  • TP ICAP said its Global Broking division, its largest business, continued to see strong momentum, with growth in all asset classes year-to-date and a particularly strong contribution from its equities business

  • However, block trading activity in its smaller Liquidnet equities business remained subdued, as the Middle East conflict continued to weigh on risk appetite and client trading behaviour

  • TP ICAP maintained its expectation of meeting the market consensus for full-year adjusted EBIT of £367 million



    ($1 = 0.7460 pounds)

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