TP ICAP Group Reports £936 Million in Revenue for H1 2021

TP ICAP Group, the world’s largest inter-dealer broker, released its financial results today for the six months ended 30 June 2021. The Group reported total revenue of £936 million in H1 of 2021, compared to £990 million during the same period in 2020.

According to the official results, TP ICAP’s adjusted profit before tax reached £88 million in the first half of 2021, which is substantially lower compared to £136 million in H1 of 2020. Earlier this year, TP ICAP completed the $700 million acquisition of Liquidnet.

During H1 of 2021, the Group’s global broking revenue decreased 7% on a constant currency basis and 11% on a reported basis. Energy and Commodities revenue declined 9% on a constant currency basis in the first half of 2021.

Commenting on the recent financial results, Nicolas Breteau, CEO of TP ICAP Group plc, said: "Reflecting subdued secondary markets, and against a very strong comparative period, overall Group revenue of £936m was down on a constant currency basis 1% and 7% excluding Liquidnet. Revenues excluding Liquidnet were broadly in line with the equivalent period of 2019, which saw more normal trading conditions compared to the exceptionally high volumes in Q1 2020. Throughout the period, we exercised cost discipline and are on track to achieve £35m of annualized cost savings by the year-end.”

Liquidnet

The recent acquisition of Liquidnet had a significant impact on the agency Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term revenue as the number increased 84% on a constant currency basis. “We are working at pace to integrate Liquidnet into our Agency Execution division and have identified approximately £20m of cost synergies. We have also developed and are implementing growth plans for both Equities and Credit. Parameta Solutions continues its growth trajectory, delivering a double-digit increase in revenues in its Data & Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term business,” Breteau added.

In July 2021, ICAP, part of TP ICAP Group, announced the launch of SpotMatch, a brand new fully automated and advanced Spot FX matching platform, to meet the growing demand.