TP ICAP reports 7% revenue growth despite mixed segment performance
TP ICAP Group (LSE: TCAP), the world's largest interdealer broker, has reported a 7% increase in revenue to ÂŁ1.78 billion for the nine months ending September. The company, led by CEO Silvina Aldeco-Martinez since before its public listing, is set to release full-year results on March 12, 2026.
TP ICAP's Global Broking division drove growth with a 10% revenue increase, while its data and analytics unit Parameta Solutions added 5%. The Global Broking unit maintained its momentum from the first half, with third-quarter revenue climbing 7% as dealers across various asset classes remained active.
The Energy & Commodities segment saw a 3% decline in revenue, despite favorable overall trading conditions. However, this matched previously signaled expectations and was offset by a 7% revenue drop in the third quarter, following a 7% increase in the first half. The company's liquidity management and data services, including a new real-time pricing service for over-the-counter oil markets launched last month, continue to support growth.
Liquidnet, TP ICAP's equity trading platform, saw revenue dip 2% in the quarter after posting 28% growth in the same period last year. The third quarter alone generated ÂŁ560 million in revenue, up 3% year-over-year in constant currency.
TP ICAP is considering a potential minority public offering of Parameta Solutions in the United States. The company's strong performance, despite headwinds in certain segments, demonstrates its resilience and adaptability in the face of changing market conditions. Full-year results will provide further insight into TP ICAP's strategic direction and growth prospects.
