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TP ICAP Group PLC on Wednesday said market volatility helped delivered record quarterly sales but has also prompted it to review the timing of the listing of Parameta Solutions. In March, the London-based financial services firm said a minority listing of its data and analytics division, Parameta Solutions, could occur as early as the second quarter of 2025. On Wednesday, the company said it will now ‘keep under review’ the appropriate timing for any listing following the ‘recent market turbulence’. TP ICAP said revenue grew 10% to £629 million in the three months to March 31, its best ever quarter, benefiting from the market volatility. In response, shares in TP ICAP were 1.9% lower at 263.00 pence each in London on Wednesday. They have risen 18% in the last 12 months. Global Broking revenue increased 14%, with the division performing strongly across all asset classes, capitalising on the ‘exceptionally favourable market conditions’. Liquidnet revenue rose 16% while Energy & Commodities revenue was unchanged, in line with expectations, reflecting a competitive hiring market for brokers in 2024. Parameta Solutions revenue increased by 6% in the quarter against a touch comparative. TP ICAP said it ‘remains comfortable’ with current market expectations for 2025 adjusted earnings before interest and taxes following the ‘strong first quarter’ performance and despite the recent weakening of the US dollar. Around 60% of group revenue and 40% of group costs are USD-denominated, the firm explained. In 2024, the company reported adjusted Ebit of £324 million. TP ICAP will report results for the six months ended June on August 6. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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