26th April, 2023 – London and New York

Global index revenues increased 5.9% in 2022, totaling a record $5.33 billion, according to a benchmark study published by Burton-Taylor International Consulting, part of TP ICAP’s Parameta Solutions division. The new study provides a comprehensive analysis of the index industry with detailed reviews of leading index providers, including FTSE Russell, S&P Dow Jones Indices, MSCI, Nasdaq, STOXX, Bloomberg, Alerian, Intercontinental Exchange, Solactive, Morningstar, CRSP and SIX.

Index industry revenues increased across all revenue segments in 2022, with asset-based fees rising 12.8% annually over the last five years, representing 49% of total and subscription fee revenues.  The remaining index revenues comprise non-recurring transaction revenue and revenue from index licensing for use with derivatives, OTC contracts, and structured products. Higher AUM in ETPs drove growth for most providers, specifically those generating the most revenues from asset-based fees. 

Key findings in the study include:

• FTSE Russell, S&P Dow Jones Indices, and MSCI account for more than 2/3rds of total index revenue.  
• Assets under management in ETFs declined slightly by 4.6% to $9.552 trillion.
• Investments continue to flow into ESG and similar thematic funds, but traditional equity indices still capture 2 of every 3 dollars earned by providers.

“Targeted indices, led largely by sustainable themes related to ESG, capitalize on investors’ desire for exposure to more specific slices of the market and will continue to have a positive impact on index industry revenues,” said Robert Iati, Managing Director at Burton-Taylor. “However, turbulent markets that characterize the current environment are likely to slow the growth of inflows to indexes as investors seek more specific, defined investments to beat, rather than track, the market,” he added.  

You can purchase the full 86-page Burton-Taylor Index Global Share & Segment Sizing 2022 – Global Market Drivers, Global Market Share 2018-22, Key Competitors, Global Segment Sizing 2018-22 by visiting: Global Exchange & Index | Burton Taylor (tpicap.com) or by contacting orders@burton-taylor.com, +1 646 201-4152.

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About Burton-Taylor International Consulting (www.tpicap.com/burtontaylor)

Burton-Taylor International Consulting, part of TP ICAP group, is the recognized leader in information industry market research, strategy, and business consulting.  Burton-Taylor Exchange, Credit, Risk, Compliance, Media Intelligence, PR, and Market Data share figures are seen as industry benchmark standard globally. For further information see www.burton-taylor.com.

About TP ICAP Group plc:

• TP ICAP connects buyers and sellers in global financial, energy and commodities markets. It is a world-leading provider of liquidity and data solutions, with a portfolio of businesses that provide broking services, data & analytics and market intelligence that are trusted by clients around the world.
• Its Global Broking division is the largest inter-dealer broker in the world.
• TP ICAP operates from more than 60 offices across 28 countries, supporting brokers with award-winning and market-leading technology.
• Fusion is TP ICAP’s award-winning electronic platform. It gives clients access to the aggregated liquidity of TP ICAP’s global brands. It offers a single sign on that connects the client to multiple products, across multiple asset classes.

Media Contact:

Burton Taylor International Consulting

Robert Iati

robertiati@burton-taylor.com

+1 646 868-0619

25th April, 2023 – London

TP ICAP, a world-leading liquidity and data solutions provider, has taken a minority stake in the UK FinTech firm, ipushpull.

The Series A investment will be used to expand the ipushpull team, enhance connectivity of the ipushpull platform, and scale up its live data sharing and workflow automation capacity. TP ICAP’s move is in anticipation of increasing client demand for bespoke APIs, chat-based connectivity, and semi-automated workflows. As part of the investment, Dan Wray, Group CIO, TP ICAP, will join ipushpull’s Board of Directors.

TP ICAP already leverages ipushpull’s fast-to-market, omni-channel delivery as part of its award-winning Fusion technology offering. Fully integrated within Fusion, the ipushpull platform provides clients with custom connectivity links to chat solutions – such as Symphony, Teams, and Slack – and bespoke client API and Excel-based integrations. TP ICAP plans to extend the use of ipushpull to hundreds of clients across multiple asset classes throughout 2023.

Dan Wray, Group CIO, TP ICAP Group, said: “ipushpull is a flexible, scalable solution that sits alongside Fusion’s existing FIX and STP solutions. This enables us to meet our clients’ needs for speed and greater automation. Our investment reflects both the confidence we have in our partnership with ipushpull and the progress we’re making in executing our strategy to transform our business through technology.”

Matthew Cheung, CEO, ipushpull, said: We are delighted that TP ICAP joins ipushpull as a strategic investor and partner using our no-code platform to increase client engagement and accelerate delivery of live data and workflow into client applications of choice, such as chat, Excel and APIs.”

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About TP ICAP Group plc:

• TP ICAP connects buyers and sellers in global financial, energy and commodities markets. It is a world-leading provider of liquidity and data solutions, with a portfolio of businesses that provide broking services, data & analytics and market intelligence that are trusted by clients around the world.
• Its Global Broking division is the largest inter-dealer broker in the world.
• TP ICAP operates from more than 60 offices across 28 countries, supporting brokers with award-winning and market-leading technology.
• Fusion is TP ICAP’s award-winning electronic platform. It gives clients access to the aggregated liquidity of TP ICAP’s global brands. It offers a single sign on that connects the client to multiple products, across multiple asset classes.

About ipushpull 

ipushpull  is a leading, independent capital markets FinTech firm transforming data-driven services and operations for leading brokers, banks, asset managers, venues, exchanges, crypto, reference data providers and many other data-driven businesses.

The ipushpull configurable data sharing and workflow platform enables the delivery of real-time data on-demand into client applications such as chat and Excel, all integrated into configurable workflows. ipushpull complements and enhances existing data distribution and dedicated screens with its omni-channel delivery model, providing though a single connection a wide choice of delivery options including into chatbots, Excel and APIs while replacing inefficient manual, email and file-based workflows.

ipushpull's s deep domain experience combined with the low code / no code ipushpull platform provides a fast, cost-effective and future-proofed way to transform our customers operational efficiency and their client service, reducing costs and enabling their businesses to grow fast.

For more information visit www.ipushpull.com.

Media Contact:

TP ICAP

Richard Newman

richard.newman@tpicap.com

+44 7469 039 307

ipushpull

Steve Tassell

steve.tassell@ipushpull.com

+44 7802 881 857

18th April, 2023 – London and New York

Global spending on financial market data and news continued its decade-long growth streak with revenues jumping 4.7% to a record $37.3 billion in 2022. Although real-time trading and data spending accounted for the largest share of total revenues, strong demand for Pricing, Reference and Valuation data drove spending according to a new report published today by Burton-Taylor International Consulting, part of TP ICAP’s Data & Analytics division.

Growth was primarily concentrated in the Americas increasing by 8.3% in 2022, outpacing the 1.8% rate in Asia while spending in EMEA grew by 1.0%. Market data spending in the Americas accounted for 50.8% of the global total, with EMEA and Asia accounting for 31.1 % and 18.1% of the total, respectively.

Bloomberg continues to claim the largest share of the global market data business, followed by Refinitiv and S&P Global Market Intelligence. S&P Global Market Intelligence reported the sharpest revenue growth in 2022, followed by Morningstar, Moody’s Analytics, and FactSet.

“As the uses of market data have extended beyond the trading desk into the middle- and back-office functions, budgets of investment banks and asset managers are increasingly inelastic,” says Hadley Weinberger, Sr. Analyst at Burton-Taylor. “The new forms of data delivery that emerged during previous years’ lockdowns, such as more flexible data feeds and growth in mobile solutions, have found a place in all businesses, boosting the business for market data providers.”

The 99-page Burton-Taylor Financial Market Data/Analysis Global Share & Segment Sizing 2022 report is available for immediate download by Burton-Taylor research members through the website:

• Download a detailed information kit for the report here: https://burton-taylor.com/wp-content/uploads/2021/04/Information-Kit-B-T-Global-Market-Data-Analysis-5-Year-Report-1.pdf
• Purchase the report by visiting https://burton-taylor.com/marketdata-2021-benchmark/ or by contacting orders@burton-taylor.com, +1 646 225-6696. 

About Burton-Taylor International Consulting (www.tpicap.com/burtontaylor)

Burton-Taylor International Consulting, part of TP ICAP group, is the recognized leader in information industry market research, strategy, and business consulting.  Burton-Taylor Exchange, Credit, Risk, Compliance, Media Intelligence, PR, and Market Data share figures are seen as industry benchmark standard globally. For further information see www.burton-taylor.com.

About TP ICAP (www.tpicap.com)

TP ICAP brings together buyers and sellers in global financial, energy and commodities markets. It is the world’s largest wholesale market intermediary, with a portfolio of businesses that provide broking services, data & analytics, and market intelligence, trusted by clients around the world. We operate from offices in 31 countries, supporting award-winning brokers with market-leading technology. For further information see www.tpicap.com

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Media Contact:

Taylor International Consulting

Robert Iati

robertiati@burton-taylor.com

+1 646 868-0619

12th April, 2023 – New York

Liquidnet, a leading technology-driven agency execution specialist, today announced the integration of actionable alerts to their equities trading application, intended to improve execution and alpha generation.

Available to all US and Canadian clients and powered by Liquidnet’s premium suite of algorithms, this next evolution of the firm’s equities trading application offers improved liquidity-seeking capabilities through new alerts. These alerts provide traders with the opportunity to quickly take advantage of liquidity events created by dark blocks as well as the ability to reengage within the Liquidnet network on missed opportunities to trade.

These alerts include the Surge Opportunity alert which was designed off of the success of Surge Capture, the inaugural feature released from Liquidnet’s innovation hub, Liquidnet Labs. Leveraging their own liquidity, these innovative prompts were designed to help traders stay ahead of sudden market movements and capture opportunities that might otherwise be missed. Surge Opportunity is the next stage of evolution, alerting traders of block trades executed in the market and giving them the opportunity to take advantage of these liquidity events.

Alan Polo, Head of Business Development, Americas, said: “Our goal has always been to leverage technology and service to help the buy side solve their liquidity and execution challenges. This way of thinking led us to introduce Surge Capture six years ago, which continues to be one of the most innovative features in the market. The new Surge Opportunity alert reflects our ability to build on our success to introduce new technology-driven solutions for our clients to help them tap into block liquidity within our global network but also in the market as a whole.”

Rob Cranston, Global Head of Equities Product at Liquidnet, said: “Finding block liquidity, particularly in the current market conditions, can be challenging. We’ve seen client success through Surge Capture, and so Surge Opportunity builds off that concept of prompting clients to catch relevant liquidity after a block print. These technology-driven solutions enable our clients to capture these sudden spikes in liquidity and avoid missing out. These new capabilities and alerts are truly unique in the market.”

Additionally, Liquidnet introduced a new interface providing clearer navigation and allowing traders to access calibrated analytics, delivered in a way that fits their workflow to help them define trading strategy and further reduce their costs of trading.

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About Liquidnet

Liquidnet is a leading technology-driven, agency execution specialist that intelligently connects the world’s investors to the world’s investments. Since our founding in 1999, our network has grown to include more than 1,000 institutional investors that collectively manage $33 trillion in equity and fixed income assets. Our network spans 46 markets across six continents. We built Liquidnet to make global capital markets more efficient and continue to do so by adding additional participants, enabling trusted access to trading and investment opportunities, and delivering the actionable intelligence and insight that our customers need. For more information, visit www.liquidnet.com and follow us on Twitter @Liquidnet.

About TP ICAP Group plc

TP ICAP is a leading global markets infrastructure and data solutions provider. The Group connects buyers and sellers in global financial, energy and commodities markets. We are the world's largest wholesale market intermediary, with a portfolio of businesses that provide broking services, trade execution, data & analytics, and market intelligence. www.tpicap.com.

Media Contact:

Liquidnet

Sophonie Robichon

srobichon@liquidnet.com

+44-207-614-1753

4th April 2023 – London

Parameta Solutions, the Data & Analytics division of TP ICAP, has been approved as an ESMA authorised benchmark administrator, making it the first data provider to administer over-the-counter (OTC) benchmarks and indices across Europe and the UK.

The move follows the FCA’s decision last May to authorise Parameta Solutions as a UK benchmark administrator. As a result of Brexit, all UK benchmark administrators are required to apply for EU benchmark approval by the end of this year (December 31, 2023), in order to operate in the EU. By getting in front of this process and securing dual authorisation, Parameta Solutions now has solid governance standards in place to continuously support and create benchmarks for clients across the continent.

Rushmi Katyal, Chief Governance, Risk and Controls Officer at Parameta said: “Our recognition as a benchmark administrator will enable us to provide the highest possible governance standards within the EU. Working in conjunction with the regulators, we have established a consistent foundation for compliance, which will provide our clients with additional peace of mind when using our benchmarks.”

Anand Venkataraman, head of the benchmark and indices product team at the firm, added: “Post Brexit, clients are increasingly looking to benchmarks to enhance their risk management processes. By being approved early in the benchmark transition period, our clients can rest assured that we are fully compliant and transparent.”

About Parameta Solutions

Parameta Solutions is the Data & Analytics division of TP ICAP Group. The business provides clients with unbiased OTC content and proprietary data, in-depth insights across price discovery, risk management, benchmark and indices, and pre and post-trade analytics. Its post-trade solutions offering helps market participants control their counterparty and regulatory risks through a growing range of tools that manage balance-sheet exposure, as well as compression and optimisation services. TP ICAP Classification: Public The Data & Analytics division includes the following brands: Tullett Prebon Information, PVM Data Services, ICAP Information and Burton-Taylor Consulting.

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Media Contact:

TP ICAP

Richard Newman

M: +44 (0) 7469 039 307

Richard.Newman@tpicap.com

Maitland

H Advisers/Maitland

M: +44 207 379 5151

tpicap-maitland@maitland.co.uk