Breaking news… FCA regulated Prime of Prime broker IS Prime has reported continued growth, with a 60% increase in turnover y/e 31 March 2019. Reported figures from the London-headquartered broker show a rise from £17.2m y/e 2018 to £27.6m y/e 2019.
Net profit for the financial year has increased by 11.5%, rising from £4.6m to £5.2m. Net assets have increased from £7.7m to £10.7m.
Raj Sitlani, Managing Director, ISAM Capital Markets, commented:
IS Prime has had another strong year, growing existing clients and attracting new business across all key territories. We have also continued to make significant investments in our proprietary technology, in our LD4 and NY4 infrastructure.
Our growth can largely be attributed to having an exceptionally talented team, a broad and competitive service offering, market-leading technology and the drive to maintain our position as a global market leader in the Prime of Prime industry.
We cannot make direct comparisons with financial results from our first few years as we restructured in 2017 to become part of ISAM Capital Markets, with some of our products and services subsequently accounted for in other businesses within the group. However, I can confirm that we have continued to grow, with strong operating profits and significant net assets across the group.
IS Prime, founded in 2014, is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong and IS Risk Analytics. Figures for ISAM Capital Markets have not been disclosed.
IS Prime provides institutional clients with customised pricing sourced from Tier 1 institutions, together with multi-asset Prime of Prime and Agency Brokerage services, and comprehensive front to back technology solutions. The broker is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong and IS Risk Analytics.
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