Coronavirus provides 'market opportunities' for TP ICAP
Reported today on City AM
For the full article visit: https://www.cityam.com/coronavirus-pr...
TP ICAP's full year earnings were in line with expectations today as the firm reported that coronavirus uncewrtainty could create more opportunities going forward.The world's largest inter-dealer broker released its full year results today, recording £1.83bn in group revenue – a four per cent increase.Read more: Volatile market movements boost TP ICAP revenuesThis translated into operating profit of £279m, which was just £3m more than in 2018.TP ICAP said in a statement that uncertainty driven by "[coronavirus], global growth and ongoing Brexit negotiations" will create "market opportunities" going forward.Market volatility is a good sign for inter-dealer brokers as it generally results in more transactions."The overall macroeconomic backdrop remains uncertain driven largely by Covid-19, global growth and ongoing Brexit negotiations."While this environment impacts our clients' activity, the resulting volatility also creates market opportunities that gives us confidence for the future."
