TP ICAP Sees 9% YoY Revenues Dip in Q1 2021

Fazzaco learned that Interdealer broker TP ICAP has posted its financial results for the first quarter of 2021, showing a YoY decline in revenues.

According to the trading update, revenue of the company for the first quarter of 2021 came in at £483 million, which is down by 9 percent when compared to the same period last year. Global Broking revenue of the broker declined by 10 percent to £307 million in Q1 2021 compared to Q1 2020. Energy & Commodities revenue fell by 12 percent to £100 million in the first three months of 2021 compared to the equivalent quarter last year. The broker reported an Agency Execution revenue of £34 million in Q1 2021, a 3 percent dip compared to Q1 2020. 

Nicolas Breteau, Chief Executive Officer, TP ICAP said: "Following the exceptional revenue performance by the Group in Q1 2020 driven by extreme volatility across all asset classes, these results represent a solid performance for Group in the first quarter of 2021. The Group delivered revenues of £483m for the Period, a reduction of 9% on a constant currency basis compared to Q1 2020. However, when compared to the normalised conditions that prevailed in Q1 2019, the Group grew revenues in Q1 2021 by 6%, which is a testament to the strength and depth of the Group's business mix and the hard work of our employees, still operating under Covid constraints."

​Fazzaco earlier reported that TP ICAP has launched the brand Parameta Solutions​, which is the new identity of TP ICAP's data and analytics and post-trade offerings.