TP ICAP’s Global Broking Revenue Rose 3% YoY in Q1 2023

TP ICAP, a diversified global markets infrastructure and data solutions provider, has released its financial results for the first quarter of 2023 ended 31 March 2023. The company's total revenue for the period stood at £606 million, increasing 2 percent in constant currency over Q1 2022.

Regarding the Global Broking division, the revenue enjoyed an increase of 3 percent compared to that of the last same period, with all asset classes growing slightly.

Revenue derived from Energy & Commodities went up 3 percent on a yearly basis, driven by the continuous improvement in market conditions, and liquidity, in European Gas & Power. Revenue in Oil remained unchanged.

In terms of Parameta Solutions unit (TP ICAP's data and analytics and post-trade offerings), the revenue was up 7 percent year-over-year, with Adjusted EBIT expected to achieve double-digit growth.

The revenue from Liquidnet division was 3 percent lower over the Q1 2022.

"We remain well positioned and expect interest rates to remain at elevated levels throughout the year; at the same time, the benefit of the recent strong US Dollar is now moderating," said TP ICAP.

For full year ended ended 31 December 2022​, TP ICAP has generated £2,115m revenue, which went up 13 percent from 2021's £1,865m. In constant currency, 2022’s revenue was 7 percent higher over that of the prior year.