TP ICAP's Q3 Revenue Increases to £512M

TP ICAP Group plc, UK-based interdealer broker and a world leading liquidity and data solutions provider, has released the trading update for the period from 1 July to 30 September 2023 (Q3 2023), indicating a modest increase in Group total revenue.

The Group generated total revenue for Q3 2023 of £512 million, 5 percent higher over the year-ago quarter.

Revenues rose in all divisions except Global Broking. Specifically, revenue derived from Global Broking division dipped 2 percent on a yearly basis.

Whereas, Energy & Commodities revenue registered a growth of 28 percent compared to the last same period. Revenue from Liquidnet division climbed 6 percent year-over-year, with Parameta Solutions revenue up 7 percent.

Revenue increase in Equities more than offset a decline in the non-platform business.

For the first half of 2023​, the Group delivered a slight increase across all financial metrics, with group revenue for the period at £1,132 million, up 5 percent from H1 2022.