TP ICAP sees £936 million revenue in H1 2021

Inter-dealer broker TP ICAP Group has just released its financial results for the first half of the year. The firm registered total revenue of £936 million in in the first six months, slightly lower than the £990 million the company saw during the same period in 2020.

TP ICAP reported adjusted profit before tax of £88 million in H1 2021, down 35.3% compared to the £136 million the company earned in H1 2020.

In the first half of the year, the company’s global broking revenue fell 7% on a constant currency basis and 11% on a reported basis.


Energy and Commodities revenue dropped 9% on a constant currency basis in the H1 2021.

Parameta Solutions’ revenue was up 6% in the Period on a constant currency basis and 1% down on a reported basis.

Nicolas Breteau, CEO of TP ICAP Group plc, commented:

Nicolas Breteau, TP ICAP

Nicolas Breteau

In the first half we made good progress executing our strategy to better position the Group to drive sustainable earnings growth. In Global Broking and Energy & Commodities, we achieved notable deliveries in our hub strategy.

Earlier in March this year, TP ICAP acquired Liquidnet for $700 million.

Breteau said:

We are working at pace to integrate Liquidnet into our Agency Execution division and have identified approximately £20m of cost synergies. We have also developed and are implementing growth plans for both Equities and Credit. Parameta Solutions continues its growth trajectory, delivering a double-digit increase in revenues in its Data & Analytics business.

ICAP, part of TP ICAP Group revealed in July the launch of its new electronic offering, SpotMatch, new Spot FX matching platform.

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