Compagnie Financière Tradition Sees 2020 Revenue Decline

Compagnie Financière Tradition (CFT), one of the world's leading interdealer brokerage firms, today has published its annual trading update for 2020. Although the company's activity grew by 3.4% at constant exchange rates in the year, its reported consolidated revenue was CHF 903.1m compared with CHF 924.1m in 2019, down 2.3% at current exchange rates.

For the same period, the Group's consolidated adjusted revenue was CHF 981.3m, compared with CHF 1,012.5m in 2019, nonetheless increasing by 2.4% at constant exchange rates with the interdealer broking business (IDB) up 2.6% at constant exchange rates while the forex trading business for retail investors in Japan (Non-IDB) was down 3.0%.

In the fourth quarter, reported consolidated revenue was CHF 204.6m compared with CHF 219.0m in the fourth quarter 2019, however up 0.6% at constant exchange rates. While the US elections did not generate additional volatility, CFT saw an increase in activity over the months of November and December. The Group's consolidated adjusted revenue was CHF 220.9m against CHF 238.1m in 2019, down 0.2% at constant exchange rates with IDB flat and Non-IDB down 3.9%.