TP ICAP sees 15% increase in revenue in Q1 2022

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%.

TP ICAP

Energy & Commodities activity increased 5% in the quarter to £107 million. The numbers were riven 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.

Parameta Solutions, which offers data & analytics and post-trade solutions, registered a 5% increase in revenue to £44million. Parameta Solutions today revealed it has become a FCA-authorised benchmark administrator.

The company highlighted its strategic progress this year so far. TP ICAP hired Mark Govoni as Agency Execution CEO to boost Liquidnet’s growth strategy.

The company saw an 81% drop in its 2021 profits to £24 million. However, TP ICAP’s revenue remained resilient and stood at £1.86 billion for the year.

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