(Reuters) -British inter-dealer broker TP ICAP reported a 10% increase in its third-quarter revenue on Tuesday, driven by strong performances in its Global Broking and Liquidnet segments.
The London-listed company posted record revenues of 557 million pounds ($722.7 million) for the three months ended Sept. 30, compared with 512 million pounds a year ago.
The Global Broking segment logged 9% revenue growth, with Rates, its largest and most profitable franchise, growing by 14% in the quarter on the recent interest rate volatility.
Global Broking had accounted for 57% of TP ICAP’s total revenue in 2023.
The world’s largest inter-dealer broker, which has been exploring options, including a U.S. listing, for its data and analytics business Parameta Solutions, said it was moving with strategic options for the unit.
“We remain of the view that the strategic options being considered for Parameta are a positive step to unlocking the undoubted value of this division,” Peel Hunt analysts said.
($1 = 0.7707 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Sumana Nandy)
