May 11, 2022

Without Liquidnet’s contribution, the revenue only increased by 3 percent. All the business divisions reported a gain in revenue. Wednesday, 11/05/2022 | 07:45 GMT 0 London-listed TP ICAP (LON: TCAP) reported on Wednesday that its group revenue jumped by 14 percent in the first three months of 2022. In absolute terms, the revenue figure came in at £556 million compared to the previous year’s £483 million. However, the figure includes Liquidnet which turned out to be a major revenue source for the company. Liquidnet brought in £62 million in revenue in the quarter. Without Liquidnet’s contribution, the group revenue came in at £494 million, which is only 3 percent higher annually. But, it is to be noted that TP ICAP completed the Liquidnet acquisition in the last week of March 2021. So, in that quarter last year, the subsidiary contributed only £8 million in revenue to the group. Moreover, the latest numbers revealed the revenues generated from each business division of TP ICAP. Its global broking business generated £322 million in the three-month period, which was 3 percent higher than the first quarter of the previous year. Keep Reading Strategic Progresses Also, the company highlighted that it had made a great amount of strategic progress this year. To boost its agency execution services, TP ICAP onboarded Mark Govoni as Agency Execution CEO. His focus will be to drive Liquidnet’s growth strategy. Additionally, Parameta Solutions obtained an FCA authorization, becoming the first inter-dealer broker that will administer over-the-counter (OTC) benchmarks. Meanwhile, TP ICAP witnessed an 81 percent drop in its 2021 profits to £24 million. However, the revenue of the company showed resilience and came in at £1.86 billion, which is slightly higher than the previous year. London-listed TP ICAP (LON: TCAP) reported on Wednesday that its group revenue jumped by 14 percent in the first three months of 2022. In absolute terms, the revenue figure came in at £556 million compared to the previous year’s £483 million. However, the figure includes Liquidnet which turned out to be a major revenue source for the company. Liquidnet brought in £62 million in revenue in the quarter. Without Liquidnet’s contribution, the group revenue came in at £494 million, which is only 3 percent higher annually. But, it is to be noted that TP ICAP completed the Liquidnet acquisition in the last week of March 2021. So, in that quarter last year, the subsidiary contributed only £8 million in revenue to the group. Moreover, the latest numbers revealed the revenues generated from each business division of TP ICAP. Its global broking business generated £322 million in the three-month period, which was 3 percent higher than the first quarter of the previous year. Keep Reading