TP ICAP reports 3% revenue growth and 9% EBIT increase in H1 2024, announces third share buyback.
The company sees strong performance in E&C, Parameta Solutions and Liquidnet divisions.
TP ICAP
Group (LSE: TCAP), the world's largest interdealer broker, reported robust
financial results for the first half of 2024 and announced plans for a third
£30 million share buyback program.
TP ICAP Reports Strong H1
2024 Results
The
London-based firm saw its revenue increase by 3% in constant currency to £1.14
billion, driven by strong performances in its Energy & Commodities
(E&C) and Parameta Solutions divisions. Adjusted earnings before interest
and taxes (EBIT) rose 9% to £170 million, marking a record first-half profit
for the company.
“Our
focus on diversification is paying off,” Nicolas Breteau, CEO of TP ICAP,
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
company's E&C division reported an 8% revenue increase, while Parameta
Solutions, TP ICAP's market-leading OTC data business, saw a 10% growth in
constant currency. The Global Broking segment maintained its market-leading
position despite flat revenues compared to the previous year.
TP ICAP's operations also
include Liquidnet, a private trading operator that became part of the Group
following an acquisition over three years ago. For Liquidnet, revenues grew by
8%, thanks to an increasing market share in the US and EMEA.
“Liquidnet's
enhanced operational gearing, coupled with market share gains, enabled the
division to generate £24 million of EBIT or 14% of Group EBIT,” said the CEO.
Last month, the agency execution specialist revealed a new alliance with Boltzbit, an artificial intelligence company, to enhance its operations in the fixed-income primary markets and optimize the handling of new bond transactions.
In a separate
move to further enhance shareholder value, TP ICAP announced it would commence
its third £30 million share buyback program following the completion of its
second buyback of the same amount. The company also declared an interim
dividend of 4.8 pence per share, consistent with its dividend policy.
“The Third
Buyback highlights the Board's continued confidence in the future prospects of
TP ICAP, reflects its strong financial position, and is consistent with its
dynamic capital management strategy, which is a key priority,” the company
commented.
As of
August 6, 2024, TP ICAP had repurchased 13,320,585 ordinary shares for a gross
consideration of £28.9 million under its second buyback program. The third
buyback will be conducted in compliance with relevant financial regulations and
within pre-set parameters.
In mid-March, TP ICAP strengthened its footprint in the Asia-Pacific area by acquiring Aotearoa Energy, a brokerage firm from New Zealand that focuses on gas, power, and carbon markets. This acquisition is in line with TP ICAP's ambitions to expand in both the regional market and the energy and commodities sectors.
TP ICAP
Group (LSE: TCAP), the world's largest interdealer broker, reported robust
financial results for the first half of 2024 and announced plans for a third
£30 million share buyback program.
TP ICAP Reports Strong H1
2024 Results
The
London-based firm saw its revenue increase by 3% in constant currency to £1.14
billion, driven by strong performances in its Energy & Commodities
(E&C) and Parameta Solutions divisions. Adjusted earnings before interest
and taxes (EBIT) rose 9% to £170 million, marking a record first-half profit
for the company.
“Our
focus on diversification is paying off,” Nicolas Breteau, CEO of TP ICAP,
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
company's E&C division reported an 8% revenue increase, while Parameta
Solutions, TP ICAP's market-leading OTC data business, saw a 10% growth in
constant currency. The Global Broking segment maintained its market-leading
position despite flat revenues compared to the previous year.
TP ICAP's operations also
include Liquidnet, a private trading operator that became part of the Group
following an acquisition over three years ago. For Liquidnet, revenues grew by
8%, thanks to an increasing market share in the US and EMEA.
“Liquidnet's
enhanced operational gearing, coupled with market share gains, enabled the
division to generate £24 million of EBIT or 14% of Group EBIT,” said the CEO.
Last month, the agency execution specialist revealed a new alliance with Boltzbit, an artificial intelligence company, to enhance its operations in the fixed-income primary markets and optimize the handling of new bond transactions.
In a separate
move to further enhance shareholder value, TP ICAP announced it would commence
its third £30 million share buyback program following the completion of its
second buyback of the same amount. The company also declared an interim
dividend of 4.8 pence per share, consistent with its dividend policy.
“The Third
Buyback highlights the Board's continued confidence in the future prospects of
TP ICAP, reflects its strong financial position, and is consistent with its
dynamic capital management strategy, which is a key priority,” the company
commented.
As of
August 6, 2024, TP ICAP had repurchased 13,320,585 ordinary shares for a gross
consideration of £28.9 million under its second buyback program. The third
buyback will be conducted in compliance with relevant financial regulations and
within pre-set parameters.
In mid-March, TP ICAP strengthened its footprint in the Asia-Pacific area by acquiring Aotearoa Energy, a brokerage firm from New Zealand that focuses on gas, power, and carbon markets. This acquisition is in line with TP ICAP's ambitions to expand in both the regional market and the energy and commodities sectors.
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
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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
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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
📣 Stay updated with the latest in finance and trading!
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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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