The net profit was at £23.9 million before taxation.
Total assets also grew, reaching a value of £168.5 million.
Sucden
Financial, a multi-asset execution and clearing provider, announced on Tuesday
an increase in profits and overall net assets for 2023 despite a 13% dip in
revenue.
Sucden Profit Rises 30%, Revenue
Dips in Volatile Year
The
London-based company reported profit before taxation of £23.9 million for the
year ending December 31, 2023, up 30% from £18.4 million in 2022. Total net
assets rose to £168.5 million from £160.7 million the previous year.
However,
net revenue decreased to £69.7 million from £79.8 million in 2022, reflecting
the volatile market environment.
Marc Bailey, Chief Executive Officer of Sucden Financial
"We
achieved another strong performance in 2023, with profits up by more than 30%
and delivered significant returns for shareholders following the completion of
a number of strategic initiatives in the year," Marc Bailey, Chief
Executive Officer of Sucden Financial, commented.
Interestingly, the net revenue was almost at the same level as in the 2021 report, when it amounted to £69.8 million. At that time, the company reported a pre-tax profit of £18.0 million, which was 1,025% higher than during the COVID-19 pandemic year.
Sucden
Financial has been operating in the market for over 50 years. Starting as a
company specializing in commodities trading, it has expanded over the years
into other markets, including fixed-income and FX.
“We are
well-positioned to deliver further growth in the year ahead as we adapt to
changing market conditions and further develop our products and systems to
create new opportunities for clients,” Bailey added.
Sucden's New Partnerships
At the
beginning of this year, Finance Magnates reported that Sucden has partnered with Intercontinental Exchange, Inc. (ICE), a global technology
and data provision platform.
Through
this partnership, Sucden plans to utilize ICE's Portfolio Analytics platform
for real-time pricing, trading, and risk management of derivatives,
demonstrating a commitment to maintaining a competitive edge in a dynamic
market environment.
A month
earlier, Sucden had also partnered with another exchange, Nasdaq. Both parties
renewed their agreement to continue utilizing Nasdaq's Risk Platform. This partnership
enables Sucden Financial to improve its real-time monitoring, management, and
mitigation of market and liquidity risks across its global proprietary and
client trading portfolios.
Sucden
Financial, a multi-asset execution and clearing provider, announced on Tuesday
an increase in profits and overall net assets for 2023 despite a 13% dip in
revenue.
Sucden Profit Rises 30%, Revenue
Dips in Volatile Year
The
London-based company reported profit before taxation of £23.9 million for the
year ending December 31, 2023, up 30% from £18.4 million in 2022. Total net
assets rose to £168.5 million from £160.7 million the previous year.
However,
net revenue decreased to £69.7 million from £79.8 million in 2022, reflecting
the volatile market environment.
Marc Bailey, Chief Executive Officer of Sucden Financial
"We
achieved another strong performance in 2023, with profits up by more than 30%
and delivered significant returns for shareholders following the completion of
a number of strategic initiatives in the year," Marc Bailey, Chief
Executive Officer of Sucden Financial, commented.
Interestingly, the net revenue was almost at the same level as in the 2021 report, when it amounted to £69.8 million. At that time, the company reported a pre-tax profit of £18.0 million, which was 1,025% higher than during the COVID-19 pandemic year.
Sucden
Financial has been operating in the market for over 50 years. Starting as a
company specializing in commodities trading, it has expanded over the years
into other markets, including fixed-income and FX.
“We are
well-positioned to deliver further growth in the year ahead as we adapt to
changing market conditions and further develop our products and systems to
create new opportunities for clients,” Bailey added.
Sucden's New Partnerships
At the
beginning of this year, Finance Magnates reported that Sucden has partnered with Intercontinental Exchange, Inc. (ICE), a global technology
and data provision platform.
Through
this partnership, Sucden plans to utilize ICE's Portfolio Analytics platform
for real-time pricing, trading, and risk management of derivatives,
demonstrating a commitment to maintaining a competitive edge in a dynamic
market environment.
A month
earlier, Sucden had also partnered with another exchange, Nasdaq. Both parties
renewed their agreement to continue utilizing Nasdaq's Risk Platform. This partnership
enables Sucden Financial to improve its real-time monitoring, management, and
mitigation of market and liquidity risks across its global proprietary and
client trading portfolios.
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.
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
FX and CFDs in Africa: Key Industry Trends | FMAS:24
FX and CFDs in Africa: Key Industry Trends | FMAS:24
As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 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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As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 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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Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 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!
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 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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