6th Jan 2017 07:13
LONDON (Alliance News) - Interdealer broker TP ICAP PLC on Friday said trading activity increased in the fourth quarter of 2016 year-on-year and revenue for the full year will rise.
The company, formerly called Tullett Prebon PLC, recently changed its name after it bought the global hybrid voice broking and information arm of interdealer broker rival ICAP, which itself then changed its name to NEX Group PLC.
TP ICAP said revenue for 2016 will be around 12% higher than the GBP796.0 million the company reported a year prior and will rise around 4.0% in constant currencies.
Revenue growth was seen across all product lines in the fourth quarter to the end of December, TP ICAP said, particularly in its Interest Rate Derivatives, Fixed Income and Treasury Products units.
These businesses have benefited from the volatility and market activity which followed the US presidential election in November, the firm said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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