Swiss interdealer broker also saw solid performance in the second quarter, with a 14.4% increase.
Despite currency headwinds, the company reported growth across all regions.
Compagnie
Financière Tradition (CFT), a global interdealer broker based in Switzerland,
announced today (Thursday) an increase in revenue to CHF 577.0 million for the first half of 2024, driven by strong
performance across all regions and most asset classes.
Compagnie Financière
Tradition Reports Revenue Growth in Q2 and H1 2024
The
Swiss-based company reported adjusted revenue, including joint ventures, of CHF 577.0
million for the six months ended June 30, up from CHF 552.4 million in the same
period last year. The company's core interdealer broking (IDB) business led the
growth, with revenue increasing 9.4% at constant exchange rates to CHF 560.3
million. The retail investors segment (Non-IDB) also showed improvement,
growing 4.9% to CHF 16.7 million.
However,
reported revenue figures were impacted by currency fluctuations, particularly
the strengthening of the Swiss franc against the Japanese yen. As a result,
reported revenue under IFRS standards increased by 4.6% to CHF 537.1 million.
"Consolidated revenue continued to
be impacted by a currency effect compared to the first semester of 2023 due to
the strengthening of the Swiss franc, notably against the Japanese yen," the company commented.
The second
quarter also saw robust growth, with revenue surging 14.4% to CHF293.2 million.
The IDB segment posted a 14.7% increase, while the Non-IDB business grew by
7.0%.
For comparison, CFT generated revenue of CHF 265.6 million between January and March. Including contributions from a joint venture, the group's quarterly revenue increased to CHF 283.8 million, down slightly from CHF 290.5 million in the same period the previous year.
Compagnie
Financière Tradition, which employs over 2,400 people in more than 30
countries, provides broking and data services for a wide range of financial and
non-financial products. The company is listed on the SIX Swiss Exchange.
Continued Growth into 2024
Following a Strong 2023
The
positive performance this year follows impressive results from the previous
year. According to the CFT report from March, the company concluded 2023 with a
pre-tax profit of CHF 127.2 million, an increase of 16.1 percent, against its
annual IFRS revenue of CHF 982.4 million. The net profit was reported at CHF
94.4 million, up by 15.9 percent.
Official
data further indicates that the IFRS operating profit reached CHF 105.5
million, marking a 19.7 percent rise from the prior year, with the operating
margin improving to 10.7 percent from 9.9 percent. Revenue from joint ventures
surpassed CHF 1.05 billion, reflecting a 9.5 percent growth year-over-year.
Operating profit rose by 17.1 percent to CHF 127.7 million, while the operating
margin increased to 12.1 percent from 11.4 percent the year before.
Meanwhile, the
Swiss interdealer broker and operator of a Japanese retail forex platform has
bolstered its executive team by naming Michel Everaert as the Global Head of
E-Commerce and Digitalization. In his new capacity, Everaert spearheads the
company's digital strategies and fast-track its integration of high-tech
solutions in a customer-centric approach.
Compagnie
Financière Tradition (CFT), a global interdealer broker based in Switzerland,
announced today (Thursday) an increase in revenue to CHF 577.0 million for the first half of 2024, driven by strong
performance across all regions and most asset classes.
Compagnie Financière
Tradition Reports Revenue Growth in Q2 and H1 2024
The
Swiss-based company reported adjusted revenue, including joint ventures, of CHF 577.0
million for the six months ended June 30, up from CHF 552.4 million in the same
period last year. The company's core interdealer broking (IDB) business led the
growth, with revenue increasing 9.4% at constant exchange rates to CHF 560.3
million. The retail investors segment (Non-IDB) also showed improvement,
growing 4.9% to CHF 16.7 million.
However,
reported revenue figures were impacted by currency fluctuations, particularly
the strengthening of the Swiss franc against the Japanese yen. As a result,
reported revenue under IFRS standards increased by 4.6% to CHF 537.1 million.
"Consolidated revenue continued to
be impacted by a currency effect compared to the first semester of 2023 due to
the strengthening of the Swiss franc, notably against the Japanese yen," the company commented.
The second
quarter also saw robust growth, with revenue surging 14.4% to CHF293.2 million.
The IDB segment posted a 14.7% increase, while the Non-IDB business grew by
7.0%.
For comparison, CFT generated revenue of CHF 265.6 million between January and March. Including contributions from a joint venture, the group's quarterly revenue increased to CHF 283.8 million, down slightly from CHF 290.5 million in the same period the previous year.
Compagnie
Financière Tradition, which employs over 2,400 people in more than 30
countries, provides broking and data services for a wide range of financial and
non-financial products. The company is listed on the SIX Swiss Exchange.
Continued Growth into 2024
Following a Strong 2023
The
positive performance this year follows impressive results from the previous
year. According to the CFT report from March, the company concluded 2023 with a
pre-tax profit of CHF 127.2 million, an increase of 16.1 percent, against its
annual IFRS revenue of CHF 982.4 million. The net profit was reported at CHF
94.4 million, up by 15.9 percent.
Official
data further indicates that the IFRS operating profit reached CHF 105.5
million, marking a 19.7 percent rise from the prior year, with the operating
margin improving to 10.7 percent from 9.9 percent. Revenue from joint ventures
surpassed CHF 1.05 billion, reflecting a 9.5 percent growth year-over-year.
Operating profit rose by 17.1 percent to CHF 127.7 million, while the operating
margin increased to 12.1 percent from 11.4 percent the year before.
Meanwhile, the
Swiss interdealer broker and operator of a Japanese retail forex platform has
bolstered its executive team by naming Michel Everaert as the Global Head of
E-Commerce and Digitalization. In his new capacity, Everaert spearheads the
company's digital strategies and fast-track its integration of high-tech
solutions in a customer-centric approach.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Wall Street Gets 24/7 Access to European Markets as Eurex Welcomes US Brokers
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
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
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
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
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Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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