LONDON (dpa-AFX) - TP ICAP Group plc (IAPLF.PK, IAPLY.PK, IAP.L), on Wednesday, reported first-quarter total revenue of £556 million, an increase of 15%, compared to £483 million last year.
Total revenue, excluding Liquidnet, was £494 million, 4% higher than the previous year's £475 million.
Global Broking revenue was up 3%, benefitting from increased market volatility. Revenue grew in Rates, Credit, FX & Money Markets and Emerging Markets, but was flat in Equities, resulting in an improved mix.
Energy & Commodities revenue increased 5% driven by growth in Oil and Power & Gas in the US, while in Europe, Power & Gas declined, as high prices and significant volatility led to lower volumes.
Agency Execution revenue of £89 million increased by 154%. Liquidnet revenue of £62 million was in line with market activity. Market share increased marginally in the US and was stable in Europe.
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