Compagnie Financière Tradition (CFT), a Swiss interdealer broker and the operator of Gaitame (a Japanese retail broking giant), ended the first six months of 2023 with reported consolidated revenue of CHF 513.3 million, which fell 6.1 percent at current exchange rates but increased 12.5 percent at the constant exchange rate.

CFT’s Revenue for Q2

The revenue diminished quarter-over-quarter as the figure came in at CHF 241.7 million between April and June 2023. In the first quarter of the year, the Swiss group company generated CHF 271.6 million, Finance Magnates reported earlier. However, we see that the second quarter’s performance improved year-over-year as the revenue for Q2 2022 was only CHF 236.2 million.

Its consolidated adjusted revenue for the six-month period rose to CHF 552.4 million, compared to CHF 525.1 million in the same time frame in 2022, showcasing an increase of 11.8 percent in the constant exchange rate. The Group’s consolidated adjusted revenue for Q2 2023 was CHF 261.9 million against CHF 256.4 million in Q2 2022.

Two Business Divisions

CFT divides its business into two primary divisions, the interdealer broking business (IDB) and the non-interdealer broking business, which is its retail forex trading business in Japan under the brand Gaitame.

The adjusted revenue from the IDB division of CFT improved 11.6 percent year-over-year at constant exchange rates in the six-month period, while the forex trading business for retail investors in Japan, which is considered as non-IDB, displayed an increase of 18.7 percent. The figure for Q2 increased 10.5 percent for IDB and 34 percent for non-IDB.

Meanwhile, CFT has announced its decision to launch a share buyback program to optimize its capital allocation. The program is yet to start and is expected to run until May 2026 at the latest, under which the Group plans to buy back up to 300,000 shares.