The initial payment for the acquisition is $15.1 million in cash.
TP ICAP, the largest interdealer broker in the world, on Friday confirmed rumors that it has acquired Axiom Commodity Group, a US-based energy and commodities brokerage firm. The initial payment for the acquisition is $15.1 million in cash.
According to the regulatory filing, a further $3.1 million will be paid over three years and, depending on the performance of the business over this time frame, an extra $10.9 million will also be paid to the commodities broker.
Following the acquisition, Axiom will become part of TP ICAP's Energy & Commodities division. As reported by Finance Magnates earlier this week, Axiom has a large presence in natural gas, petroleum, power, biofuels, and grains markets, allowing TP ICAP to expand its footprint in these markets.
TP ICAP Reports Stagnant Revenues
As we previously reported, it was largely expected that the announcement of the deal would coincide with TP ICAP revealing its financial results for the four months ended October 31, 2018, which the firm also published today.
During this four-month period, revenue was flat, coming in at £568 million ($739.8 million), up one percent from the revenue of £562 million experienced in the same time period last year. Year to date (January to October), the firm achieved revenue of £1.478 billion. This is down by one percent year-on-year from £1.487 billion, but up 3 percent at constant exchange rates.
According to the statement, the flat revenue is a reflection of mixed market conditions during the period. Global Broking revenue was in line with the prior year, with both rates and equities performing well. Revenue for energy and commodities also came in around the same value as the four months ended October 31, 2017. The company's Data & Analytics business, on the other hand, saw strong revenue growth in the period of 11 percent.
Commenting on the results, Nicolas Breteau, the Chief Executive of TP ICAP plc, said: "today's trading update demonstrates that TP ICAP is well placed to grow in mixed market conditions, characterised by periodic Volatility that we saw in October following the US Federal Reserve's rates decision."
“This underlines our firmly-held belief that investing in growth areas such as Data & Analytics will benefit TP ICAP over the longer-term as we develop solid and scalable revenues across our global businesses."
“I am also pleased to announce the acquisition of Axiom Commodity Group, an energy and commodities broker based in the US. The purchase of Axiom, which has 22 brokers and specialises in crude oil, refined oil products, ethanol and physical grains, continues the expansion of our Energy & Commodities division and reinforces our existing presence in Houston, Texas."
TP ICAP, the largest interdealer broker in the world, on Friday confirmed rumors that it has acquired Axiom Commodity Group, a US-based energy and commodities brokerage firm. The initial payment for the acquisition is $15.1 million in cash.
According to the regulatory filing, a further $3.1 million will be paid over three years and, depending on the performance of the business over this time frame, an extra $10.9 million will also be paid to the commodities broker.
Following the acquisition, Axiom will become part of TP ICAP's Energy & Commodities division. As reported by Finance Magnates earlier this week, Axiom has a large presence in natural gas, petroleum, power, biofuels, and grains markets, allowing TP ICAP to expand its footprint in these markets.
TP ICAP Reports Stagnant Revenues
As we previously reported, it was largely expected that the announcement of the deal would coincide with TP ICAP revealing its financial results for the four months ended October 31, 2018, which the firm also published today.
During this four-month period, revenue was flat, coming in at £568 million ($739.8 million), up one percent from the revenue of £562 million experienced in the same time period last year. Year to date (January to October), the firm achieved revenue of £1.478 billion. This is down by one percent year-on-year from £1.487 billion, but up 3 percent at constant exchange rates.
According to the statement, the flat revenue is a reflection of mixed market conditions during the period. Global Broking revenue was in line with the prior year, with both rates and equities performing well. Revenue for energy and commodities also came in around the same value as the four months ended October 31, 2017. The company's Data & Analytics business, on the other hand, saw strong revenue growth in the period of 11 percent.
Commenting on the results, Nicolas Breteau, the Chief Executive of TP ICAP plc, said: "today's trading update demonstrates that TP ICAP is well placed to grow in mixed market conditions, characterised by periodic Volatility that we saw in October following the US Federal Reserve's rates decision."
“This underlines our firmly-held belief that investing in growth areas such as Data & Analytics will benefit TP ICAP over the longer-term as we develop solid and scalable revenues across our global businesses."
“I am also pleased to announce the acquisition of Axiom Commodity Group, an energy and commodities broker based in the US. The purchase of Axiom, which has 22 brokers and specialises in crude oil, refined oil products, ethanol and physical grains, continues the expansion of our Energy & Commodities division and reinforces our existing presence in Houston, Texas."
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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