The company is considering listing its Parameta Solutions data unit in New York instead of London.
It quotes better liquidity and market understanding in the United States.
TP ICAP
Group Plc, the world's largest inter-dealer broker, is considering a potential
listing of its Parameta Solutions data unit in New York rather than London,
signaling a potential setback for the UK capital markets.
TP ICAP Mulls New York
Listing for Data Unit, Bypassing London
The
company, which connects clients in wholesale financial markets, cited better
liquidity and a more robust ecosystem of specialist investors and analysts in
the US as key factors influencing this decision. TP ICAP also noted that 95% of
Parameta's revenue is dollar-denominated, making a Wall Street listing more
reflective of the unit's business operations.
Parameta
Solutions, which provides over-the-counter financial data and analytics to
institutional clients, generated £97 million in revenue and £39 million in
adjusted earnings before interest and tax in the first half of 2024. This
represents approximately 8% of TP ICAP's total revenue.
While the
potential US listing is under consideration, TP ICAP CEO Nicolas Breteau
emphasized that no final decision has been made. “There is, of course, no
certainty about either a public offering or its location. We will update on
progress, as and when appropriate.”
Strong Financial Results
The news
comes as TP ICAP reported
strong financial results for the first half of 2024. The company saw a 32%
surge in pretax profit to £120 million, while revenue edged up to £1.14
billion. The firm also announced a £30 million share buyback program and
maintained its interim dividend at 4.8 pence per share.
“Our focus
on diversification is paying off,” Breteau commented on the results. “Group
revenue increased by 3% in constant currency, building on last year's strong
performance. We delivered record H1 profits with adjusted EBIT up 9%.”
The E&C
division of the company experienced an 8% rise in revenue. Meanwhile, the
Global Broking segment continued to hold its position as a market leader, even
though its revenues remained unchanged from the previous year.
TP ICAP's
operations also include Liquidnet, a private trading operator that
became part of the Group following an acquisitionover three
years ago. For
Liquidnet, revenues grew by 8% thanks to an increasing market share in the US
and EMEA.
London Loses IPO Battle to
New York
TP ICAP's
consideration of a New York listing for Parameta adds to the ongoing debate
about London's competitiveness as a global financial center. As the TP ICAP spokesperson commented for
Bloomberg, the United States has a “large financial data sector, with an
ecosystem of specialist investors and analysts, who have a deep understanding
of the industry.”
As a
result, the company joins a growing number of British entities opting for
listings outside the country, favoring the United States. An example is Marex Group, which announced in March its intention to debut
on Nasdaq under the ticker “MRX.”
In 2023, the
US completely dominated the IPO market, while activity in London fell by
36% during the same period. In the record year of 2021, IPOs raised $20
billion, but the values have seen a significant decline over the past two
years. Last year, the UK’s IPO market did not even exceed the value of $1
billion.
Despite
these challenges, TP ICAP confirmed it has no plans to change the group's
primary listing, which remains in London. The company's shares responded
positively to the news, rising 7.8% to 227.5 pence during Wednesday's London
trading.
TP ICAP
Group Plc, the world's largest inter-dealer broker, is considering a potential
listing of its Parameta Solutions data unit in New York rather than London,
signaling a potential setback for the UK capital markets.
TP ICAP Mulls New York
Listing for Data Unit, Bypassing London
The
company, which connects clients in wholesale financial markets, cited better
liquidity and a more robust ecosystem of specialist investors and analysts in
the US as key factors influencing this decision. TP ICAP also noted that 95% of
Parameta's revenue is dollar-denominated, making a Wall Street listing more
reflective of the unit's business operations.
Parameta
Solutions, which provides over-the-counter financial data and analytics to
institutional clients, generated £97 million in revenue and £39 million in
adjusted earnings before interest and tax in the first half of 2024. This
represents approximately 8% of TP ICAP's total revenue.
While the
potential US listing is under consideration, TP ICAP CEO Nicolas Breteau
emphasized that no final decision has been made. “There is, of course, no
certainty about either a public offering or its location. We will update on
progress, as and when appropriate.”
Strong Financial Results
The news
comes as TP ICAP reported
strong financial results for the first half of 2024. The company saw a 32%
surge in pretax profit to £120 million, while revenue edged up to £1.14
billion. The firm also announced a £30 million share buyback program and
maintained its interim dividend at 4.8 pence per share.
“Our focus
on diversification is paying off,” Breteau commented on the results. “Group
revenue increased by 3% in constant currency, building on last year's strong
performance. We delivered record H1 profits with adjusted EBIT up 9%.”
The E&C
division of the company experienced an 8% rise in revenue. Meanwhile, the
Global Broking segment continued to hold its position as a market leader, even
though its revenues remained unchanged from the previous year.
TP ICAP's
operations also include Liquidnet, a private trading operator that
became part of the Group following an acquisitionover three
years ago. For
Liquidnet, revenues grew by 8% thanks to an increasing market share in the US
and EMEA.
London Loses IPO Battle to
New York
TP ICAP's
consideration of a New York listing for Parameta adds to the ongoing debate
about London's competitiveness as a global financial center. As the TP ICAP spokesperson commented for
Bloomberg, the United States has a “large financial data sector, with an
ecosystem of specialist investors and analysts, who have a deep understanding
of the industry.”
As a
result, the company joins a growing number of British entities opting for
listings outside the country, favoring the United States. An example is Marex Group, which announced in March its intention to debut
on Nasdaq under the ticker “MRX.”
In 2023, the
US completely dominated the IPO market, while activity in London fell by
36% during the same period. In the record year of 2021, IPOs raised $20
billion, but the values have seen a significant decline over the past two
years. Last year, the UK’s IPO market did not even exceed the value of $1
billion.
Despite
these challenges, TP ICAP confirmed it has no plans to change the group's
primary listing, which remains in London. The company's shares responded
positively to the news, rising 7.8% to 227.5 pence during Wednesday's London
trading.
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:
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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
#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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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
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🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 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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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.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 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/
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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.
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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
📣 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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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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