TP ICAP Group plc (TCAP.L), a financial services firm, reported third-quarter group revenue of 557 million pounds, representing a 10% increase in constant currency and a 9% increase in reported currency.
Quarterly Global Broking revenue increased by 8%, maintaining the strong momentum from the second quarter. Rates, the largest and most profitable asset class, grew by 15%, benefiting from interest rate volatility.
Liquidnet delivered a very strong third quarter, with revenue up by 26%. Liquidnet Equities saw a 21% increase, driven by continued institutional block market activity. Multi-asset agency brokerage revenue rose by 33%, fueled by strong growth in Relative Value strategies.
Energy & Commodities (E&C) revenue increased by 2%, following a record third quarter last year.
Parameta Solutions, or market-leading over-the-counter (OTC) data business, grew by 6%.
Group revenue for the nine-month of 2024 was 1.70 billion pounds, up 5% in constant currency or 3% in reported currency. All four divisions traded well, underlining the broad, diversified nature of the Group.
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