TP ICAP today released its financial results for the first quarter of 2022. The inter-dealer broker reported a 15% increase in its overall revenue.
The London-listed firm earned £556 million in the first three months of the year, compared to the £483 million, generated in the same period 2020.
These numbers include Liquidnet, which is a major contributor. The institutional investment network brought in £62 million of the total revenue for the quarter.
Excluding Liquidnet earnings, the division’s revenue grew 4% to £494 million. Liquidnet was acquired earlier this year. Liquidnet’s acquisition was finalised in March 2021
TP ICAP’s main business divisions, global broking, energy and commodities, agency execution and Parameta Solutions also saw a rise in their activities in this quarter. The global broking business generated £322 million in Q1 2022, with a yearly increase of 3%.