NEWS
TP ICAP Group, a prominent provider of liquidity and data solutions worldwide, has released its trading update for the first quarter of 2024, revealing a 3% decrease in total revenue in constant currency compared to Q1 2023.
However, the group witnessed a robust recovery in April. Consequently, in the initial four months of 2024, total revenue for the group saw a 3% increase.
Specifically, the Global Broking division experienced a 7% decline in revenue for Q1 2024. Nevertheless, the division recorded significant double-digit growth in April.
The Energy & Commodities division achieved an 8% increase in revenue for Q1 2024, buoyed by favorable market conditions. Over the past year, revenue from this division surged by 20%.
Parameta Solutions, TP ICAP’s over-the-counter (OTC) data provider, observed a 12% revenue growth in Q1, fueled by consistent demand, new client acquisitions, and a focus on direct distribution.
“We continue to explore avenues to maximize the value of Parameta Solutions for our shareholders, including the potential IPO of a majority stake in the business,” TP ICAP stated in a release.
