The companies, products and regulatory developments shaping the broker industry.
Parameta’s segment economics reveal a small but disproportionately profitable subscription business, subject to important inter-division and cost-allocation caveats.
TP ICAP’s segment bridge shows Global Broking added £71m while group revenue rose £68m, as other divisions offset part of the increase.
An examination of TP ICAP’s November trading statement finds 16% quarterly growth in Global Broking alongside a decline at Liquidnet, while divisional reclassification complicates longer comparisons.
TP ICAP’s Q3 revenue reached £620m, up 11% at constant currencies, with Global Broking up 16%; Liquidnet’s 1% decline and flat Parameta quarter show a different revenue mix.
The group reports 9% constant-currency revenue growth year-to-date, but Liquidnet and Parameta lagged the faster Global Broking operation in the third quarter.