The group company generated a net profit of CHF 60 million in the first six months of 2024.
The revenue (IFRS) for the period came in at CHF 537.1 million.
The net profit of Compagnie Financière Tradition (SWX: CFT), an inter-dealer broker and operator of a Japanese retail forex trading platform, reached CHF 60 million for the first six months of 2024, a year-over-year increase of 17.6 percent at the current exchange rate and 24.5 percent at the constant exchange rate.
Solid Six Months
The company’s consolidated revenue for the six months was CHF 537.1 million, reflecting a yearly increase of 4.6 percent and 9.2 percent, respectively, on current and constant exchange rates. It generated CHF 271.5 million in the second quarter of the year, while CHF 265.6 million came in from the first three months.
“Compagnie Financière Tradition continued to grow at a solid pace throughout the first half, maintaining the momentum of last year,” the official announcement today (Friday) said. “Activity levels were up in all regions and across most asset classes during the period, largely driven by the Group's organic growth policy.”
Both Businesses Received a Boost
The combined revenue from its joint ventures was CHF 577 million, compared to CHF 552.4 million in the corresponding quarter of the previous year. Revenue from the inter-dealer broking (IDB) business jumped 9.4 percent at constant exchange rates to CHF 560.3 million, while the online forex trading business for retail investors in Japan (non-IDB) brought in CHF 16.7 million, which is 4.9 percent higher.
Furthermore, the group’s recognized net financial income for the six months was CHF 1.7 million, compared to a net expense of CHF 4.5 million in the previous year. It also generated a net of CHF 2.6 million from interest income, which was significantly higher compared to 2023. Additionally, its net foreign gains and losses from forex fluctuations marginally impacted the latest figures, which incurred a loss of CHF 3.9 million the previous year.
As for the outlook, the Group expects its third-quarter results to be in line with the first half of the year.
“Compagnie Financière Tradition intends to pursue its growth strategy, primarily organic, as well as its investments in its brokerage activity in order to accelerate its digitalisation across all its operations as well as in its data and analytics activities with the support of its developed data science expertise,” the official announcement added.
The net profit of Compagnie Financière Tradition (SWX: CFT), an inter-dealer broker and operator of a Japanese retail forex trading platform, reached CHF 60 million for the first six months of 2024, a year-over-year increase of 17.6 percent at the current exchange rate and 24.5 percent at the constant exchange rate.
Solid Six Months
The company’s consolidated revenue for the six months was CHF 537.1 million, reflecting a yearly increase of 4.6 percent and 9.2 percent, respectively, on current and constant exchange rates. It generated CHF 271.5 million in the second quarter of the year, while CHF 265.6 million came in from the first three months.
“Compagnie Financière Tradition continued to grow at a solid pace throughout the first half, maintaining the momentum of last year,” the official announcement today (Friday) said. “Activity levels were up in all regions and across most asset classes during the period, largely driven by the Group's organic growth policy.”
Both Businesses Received a Boost
The combined revenue from its joint ventures was CHF 577 million, compared to CHF 552.4 million in the corresponding quarter of the previous year. Revenue from the inter-dealer broking (IDB) business jumped 9.4 percent at constant exchange rates to CHF 560.3 million, while the online forex trading business for retail investors in Japan (non-IDB) brought in CHF 16.7 million, which is 4.9 percent higher.
Furthermore, the group’s recognized net financial income for the six months was CHF 1.7 million, compared to a net expense of CHF 4.5 million in the previous year. It also generated a net of CHF 2.6 million from interest income, which was significantly higher compared to 2023. Additionally, its net foreign gains and losses from forex fluctuations marginally impacted the latest figures, which incurred a loss of CHF 3.9 million the previous year.
As for the outlook, the Group expects its third-quarter results to be in line with the first half of the year.
“Compagnie Financière Tradition intends to pursue its growth strategy, primarily organic, as well as its investments in its brokerage activity in order to accelerate its digitalisation across all its operations as well as in its data and analytics activities with the support of its developed data science expertise,” the official announcement added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
6 Years After This FX/CFD Broker's Collapse, Its Ex-Director Pleads Guilty
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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