The companies, products and regulatory developments shaping the broker industry.
The UK company’s revenue fell 19.3%. Its accounts also show that the FTMO transaction accelerated share awards, changing the explanation of the 2025 earnings reversal.
IG’s investor materials disclose a transaction whose headline consideration and separate management plan must be kept distinct: up to $1.3 billion for the acquisition and up to $850 million of future incentives.
StoneX’s reported increase was real, but most of it came from adding R.J. O’Brien to the reporting perimeter. The acquired broker also supplied 78% of the rise in average client equity while StoneX’s FX and CFD revenue fell.
Swissquote’s reported accounts rose 72.3%, but core accounts increased 12.6%; most of the headline increase came from bringing Yuh into the group perimeter.
SEI’s contract-exit payment was 3.1 times Stratos’s reported nine-month operating profit and still exceeded a simple pre-amortisation reconstruction.
The Toronto exchange group generated C$72.5 million more revenue in the third quarter, but operating expenses rose C$78.9 million. Its filings permit a disciplined reconstruction of acquisition-driven revenue and the much larger cost increase without confusing them.
Euronext's third-quarter cash-equity revenues expanded 34.3%, but the exchange group's own like-for-like figure is 16.6%. A reconstruction distinguishes acquisitions and currency effects from trading performance without inventing their separate weights.
Marex’s filed figures show that 67% of its nine-month FX revenue increase occurred in a first-half comparison with unequal Hamilton Court ownership, while the like-for-like third quarter still more than doubled.
The deal combines £28.9m paid at completion with £9.5m deferred for 18 months, alongside a temporary executive-chair role to lead integration.
The debt-funded purchase is expected to close in the first half of 2027, subject to approvals; forecasts distinguish Octus revenue from LSEG earnings and leverage.
The transaction combines complementary credit-trading networks, with most consideration paid in cash and closing targeted for the first half of 2027.
The debt-funded deal adds proprietary credit documentation and workflow tools; LSEG expects adjusted EPS neutrality in the first full year after completion.
The proposed acquisition brings a mill and grower relationships into StoneX’s physical commodities business. Quarterly disclosures show how much that franchise already contributes to the Commercial segment.
The 30 September ownership change creates a route for GII’s alternative investments. Existing property interests retain their structure, while tokenisation and new product launches remain future plans.
The planned structure combines custody with the bank’s securities services and preserves a separate supplier of digital-asset infrastructure to other institutions.