Compagnie Financiere Tradition Posts Financial Results for Q1 2021

Compagnie Financiere Tradition(CFT), one of the world's top interdealer broking firms, with a presence in 30 countries, posted its financial results for the first quarter of 2021, showing a significant drop in revenue.

More specifically, the broker registered a revenue of CHF 238.6m, down 14.0% at current exchange rates compared to CHF 277.3m in the same period in 2020. In terms of adjusted revenue, the number reached CHF 259.2m, decreased by 11.3% at current exchange rates compared with CHF 303.5m in the previous year.

Additionally, the group elaborated that the adjusted revenue from its interdealer broking business dropped by 10.8 percent at a constant exchange rate, while forex trading business for retail investors in Japan declined by a massive 21.8 percent.

The average level of activity for the months of January and February showed a slight increase at constant exchange rates compared to a year ago. The company said that an important base effect was noted in the month of March given the exceptional volume of activity in 2020 which took place in a context of a gradual health crisis resulting from COVID-19, causing very high volatility in the financial markets.