TP Icap posts 11% jump in Q3 revenue, on track to meet FY market expectations

(Sharecast News) - Interdealer broker TP Icap said on Tuesday that it remained comfortable with full-year market expectations as it reported an 11% rise in third-quarter group revenues to £620m, pointing to a strong performance from its global broking arm.

Market consensus is for 2026 adjusted EBIT of £367m, with a range of £357m to £378m.

Revenues in the global broking division were up 16% at constant currency in the third quarter, while Energy & Commodities saw a 7% increase. Revenues in Liquidnet and Parameta Solutions were down 1% and flat, respectively.

In the nine months to September end, group revenue was 9% higher at constant currency at £1.9bn. Revenues in the global broking division were up 12%, while Energy & Commodities saw a 3% uptick. Revenues in Liquidnet were 1% higher, while Parameta Solutions saw a 4% increase.

The company said Global Broking continued to see strong momentum, with growth in all asset classes in the year to date and a notably strong contribution from equities and continued good growth in rates. "This performance reflected strong strategic execution, increased franchise strength, and benefited from supportive market conditions," it said.

As far as E&C is concerned, Icap said it "remains well-positioned for a recovery in its markets". The division delivered growth YTD despite depressed levels of activity in global oil futures markets, which account for over half of revenue.

Liquidnet continued to execute well, it said, maintaining its market position and delivering growth in its multi-asset business.

In Parameta Solutions, pipeline strength continues to build across the new logo, channel, and account management teams, and new products are continuing to gain traction, Icap said.

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