Compagnie Financière Tradition Posts Q1 Growth, Gaitame Revenue Jumps 8.5%

Compagnie Financière Tradition (CFT), a Swiss interdealer broker and operator of a Japanese retail broking giant, reported consolidated revenue of CHF 247.7 million for the first quarter of 2021.

The latest figure was almost 4 percent, at a current exchange rate, higher than the figure reported by the group in the first quarter of the previous year. The year-over-year jump was 3.7 percent when the constant exchange rate is taken into account.

“The average level of activity for the first quarter showed an increase compared to the same period last year,” CFT stated in the press release shared with Finance Magnates.

On an adjusted basis, the group’s consolidated revenue for the three months stood at CHF 268.7 million. It was again an increase of 3.8 percent, at a constant exchange rate, from the previous year’s CHF 259.2 million.

CFT categorizes its business into two divisions: interdealer broking business (IDB) and non-interdealer broking business (IDB). The second is its retail forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term business in Japan where the group operates a trading venue, Gaitame.

Additionally, the group elaborated that the adjusted revenue coming from its IDB business jumped by 3.6 percent at a constant exchange rate, whereas 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 saw an upward surge of 8.5 percent. However, it did not provide any absolute numbers.

Poor 2021 Numbers

Finance Magnates earlier reported that the group’s annual adjusted revenue for 2021 decreased by 2.5 percent to CHF 950.8 million. Though its IDB business shrank by 2.8 percent, revenue from its forex trading jumped by 3.8 percent. However, in absolute terms, IDB was the revenue generator bringing CHF 917 million.

It closed the year with an adjusted operating profit of CHF 99.9 million, which was 8 percent down from the previous year. Furthermore, the operating margin declined to 10.5 percent.