TP ICAP Group PLC (TCAP.L), a wholesale market intermediary, on Wednesday reported higher revenue for the first quarter, driven by strong execution across its broking and energy businesses amid favourable market conditions.
Looking ahead, the Board said that it remains comfortable with the outlook for the rest of 2026 at current FX rates.
In its trading update for the first quarter, TP ICAP posted total quarterly revenue of 689 million pounds, up 13 percent year-on-year at constant currency. The gains were led by Global Broking and Energy & Commodities, with revenues up 15 percent and 13 percent, respectively.
Liquidnet revenue rose 9 percent as it expanded its core equities platform and multi-asset agency execution business.
Parameta Solutions revenue grew 4 percent, with recently added sales reps beginning to contribute.
The Group noted strong execution across all asset classes and regions amid volatile market conditions and elevated trading volumes.
The company said that the first quarter reflects disciplined strategy execution and cost control.
On the LSE, shares of TP ICAP were gaining 1.32 percent, changing hands at 318.54 pence.
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