TP ICAP's Q3 Revenue Rises 5%, Pushed by Energy and Commodities Performance

<p dir="ltr">TP ICAP, the world's largest inter-dealer broker, closed the three months between July and September with a total group revenue of £512 million, an increase of 5 percent. Although the Global Broking revenue dropped, strong performance in its energy and commodities division raised the overall figure higher.</p><p dir="ltr">The company highlighted that the trading was in line with expectations so far this year.</p><p dir="ltr">Multiple Divisions Performed Well</p><p dir="ltr">According to the latest trading update published today (Tuesday), revenue from the energy and commodities division jumped 28 percent on a constant currency basis and 22 percent on a reported basis, "reflecting the <a href="https://www.financemagnates.com/cryptocurrency/tp-icaps-institutional-crypto-exchange-finally-goes-live-for-spot-trading/">positive market developments</a> and the division's strong position."</p><p dir="ltr">However, the revenue from the Global Broking business slipped 2 percent on a constant currency basis and 6 percent on a reported currency basis. The downturn followed an improvement of 12% in the revenue base for the same period last year.</p><p dir="ltr">The quarterly revenue of <a href="https://www.financemagnates.com/tag/liquidnet/">Liquidnet </a>also saw an uptick of 6 percent and 3 percent on a constant and reported currency basis, respectively. Liquidnet operates as a dark pool operator acquired by TP ICAP in 2021.</p><p dir="ltr">The update highlighted that "growth in Equities more than offset a decline in the non-platform business." Parameta Solutions, another growing division of TP ICAP, witnessed revenue growth of 7 percent on a constant currency basis and 2 percent on a reported basis.</p><p dir="ltr">Struggling TP ICAP Stock</p><p dir="ltr">Despite the revenue rise, the publicly-listed shares of <a href="https://www.financemagnates.com/tag/tp-icap/">TP ICAP</a> are still struggling to gain positive momentum. Year-to-date, the TP ICAP stock price fell by 5.11 percent despite recovering from its bottom in early July.</p><p dir="ltr">Meanwhile, the stock prices benefited from the H1 performance of the company. The <a href="https://www.financemagnates.com/institutional-forex/tp-icaps-113-billion-revenue-milestone-triggers-a-16-stock-surge/">revenue of TP ICAP for the first six months</a> of the fiscal stood at £1.13 billion, an overall revenue upscale of 1 percent following a strong H1 2022 when the revenue base grew 7 percent.</p>

This article was written by Arnab Shome at www.financemagnates.com.