TP ICAP Reports 3% Increase in Global Broking Revenue During Q1 2022

TP ICAP, a leading global markets infrastructure and data solutions provider, released a trading update today for the three months ended 31 March 2022, reporting an overall revenue jump of 14 percent. Group revenue, excluding Liquidnet, up 3% in constant currency.

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According to the official announcement, the total global broking revenue reached £322 million in Q1 of 2022, which is an increase of 3% compared to Q1 of 2020, benefitting from increased market volatility. In addition, revenue grew in Rates, Credit, FX & Money Markets and Emerging Markets, but was flat in Equities, resulting in an improved mix.

Energy & Commodities revenue up 5% driven by growth in Oil and Power & Gas in the US, while in Europe, Power & Gas declined, as high prices and significant volatility led to lower volumes.

Agency Execution revenue of £89m increased by 154%. Liquidnet revenue of £62m was in line with market activity. Market share increased marginally in the US and was stable in Europe.

Today's announcement follows TP ICAP revealing in April that it has appointed Mark Govoni as Chief Executive Officer of its Agency Execution division. TP ICAP's Agency Execution division is formed of the COEX Partners and Liquidnet brands. The company acquired Liquidnet earlier last year.