Media

News

10 Aug 2022

Parameta Solutions launches market-leading new product, ClearConsensus, in partnership with PeerNova

Press Release

10 Aug 2022

Parameta Solutions launches market-leading new product, ClearConsensus, in partnership with PeerNova

Parameta Solutions, the Data & Analytics division of TP ICAP, announces that it has partnered with PeerNova, to launch a new enhanced consensus pricing solution, ClearConsensus.

In the news

10 Aug 2022

Parameta Solutions launches market-leading new product, ClearConsensus, in partnership with PeerNova

Parameta Solutions, the Data & Analytics division of TP ICAP, announces that it has partnered with PeerNova, to launch a new enhanced consensus pricing solution, ClearConsensus.

The new offer, available to TP ICAP’s global client base, has been developed with the input of some of the world’s largest investment banks. It has been launched in partnership with PeerNova, a Silicon Valley data analytics and management company, and brings a new approach to risk and regulatory capital management. The solution directly addresses some of the growing pressures faced by clients with regards to transparency and governance.

ClearConsensus leverages Parameta’s unique observable transaction data in its Evaluated Pricing Service. This data is integrated into PeerNova’s market-leading technology to provide users with an efficient consensus process that is accurate and robust. This unique collaboration enables clients to improve the quality of their fair value assessments, leading to more efficient capital allocation and optimisation.

Eric Sinclair, CEO of Parameta Solutions, said:

“At Parameta, our focus is always on leveraging our data and network to provide products that cater directly to our clients’ needs. ClearConsensus does exactly that. By working so closely with the industry and partnering with PeerNova, a market leader, we are providing clients with an effective, robust and transparent solution that cannot be found anywhere else in the market.  ClearConsensus provides banks and other market participants with crucial information underpinned by transactional data, that will enable them make better decisions with regards to capital allocation.”

Gangesh Ganesan, Founder and CEO of PeerNova, commented:

“We are very pleased to partner with Parameta Solutions and launch ClearConsensus. As a leading  provider of unique OTC content, with a global footprint in the derivatives market, Parameta Solutions will bring significant expertise when it comes to meeting regulatory requirements and enriching client data. Coupled with PeerNova’s data and analytics capabilities, our solution is uniquely positioned to improve the overall consensus process, helping clients better plan for the future. ”

 

ENDS

 

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.

 

The Data & Analytics division includes the following brands: Tullett Prebon Information, PVM Data Services, ICAP Information and Burton-Taylor Consulting

 

 

Regulatory

10 Aug 2022

Parameta Solutions launches market-leading new product, ClearConsensus, in partnership with PeerNova

Parameta Solutions, the Data & Analytics division of TP ICAP, announces that it has partnered with PeerNova, to launch a new enhanced consensus pricing solution, ClearConsensus.

The new offer, available to TP ICAP’s global client base, has been developed with the input of some of the world’s largest investment banks. It has been launched in partnership with PeerNova, a Silicon Valley data analytics and management company, and brings a new approach to risk and regulatory capital management. The solution directly addresses some of the growing pressures faced by clients with regards to transparency and governance.

ClearConsensus leverages Parameta’s unique observable transaction data in its Evaluated Pricing Service. This data is integrated into PeerNova’s market-leading technology to provide users with an efficient consensus process that is accurate and robust. This unique collaboration enables clients to improve the quality of their fair value assessments, leading to more efficient capital allocation and optimisation.

Eric Sinclair, CEO of Parameta Solutions, said:

“At Parameta, our focus is always on leveraging our data and network to provide products that cater directly to our clients’ needs. ClearConsensus does exactly that. By working so closely with the industry and partnering with PeerNova, a market leader, we are providing clients with an effective, robust and transparent solution that cannot be found anywhere else in the market.  ClearConsensus provides banks and other market participants with crucial information underpinned by transactional data, that will enable them make better decisions with regards to capital allocation.”

Gangesh Ganesan, Founder and CEO of PeerNova, commented:

“We are very pleased to partner with Parameta Solutions and launch ClearConsensus. As a leading  provider of unique OTC content, with a global footprint in the derivatives market, Parameta Solutions will bring significant expertise when it comes to meeting regulatory requirements and enriching client data. Coupled with PeerNova’s data and analytics capabilities, our solution is uniquely positioned to improve the overall consensus process, helping clients better plan for the future. ”

 

ENDS

 

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.

 

The Data & Analytics division includes the following brands: Tullett Prebon Information, PVM Data Services, ICAP Information and Burton-Taylor Consulting

 

 

News

10 Aug 2022

Interim Results 2022

For the six months ended 30th June 2022.

 

Press Release

10 Aug 2022

Interim Results 2022

<p><strong>Financial and interim management report for the six months ended 30 June 2022</strong> (the "Period")<br />
 </p>

<p><strong>TP ICAP Group plc</strong> (the "Group") announces its results for the Period today. </p>

<p>Nicolas Breteau, CEO of the Group, said:</p>

<p>"We have delivered high single digit revenue growth. We have also grown revenue across all our asset classes and increased our market share. A strong performance from Rates, helped deliver an uplift in profitability.</p>

In the news

10 Aug 2022

Interim Results 2022

Financial and interim management report for the six months ended 30 June 2022 (the "Period")
 

TP ICAP Group plc (the "Group") announces its results for the Period today. 

Nicolas Breteau, CEO of the Group, said:

"We have delivered high single digit revenue growth. We have also grown revenue across all our asset classes and increased our market share. A strong performance from Rates, helped deliver an uplift in profitability.

Our transformation continues at pace, including the rollout of Fusion, our award-winning electronic platform. Our focus on diversification is reaping benefits, too. Parameta Solutions is announcing today an enhanced consensus pricing solution in partnership with PeerNova and involving many of the world's largest investment banks. Meanwhile, at Liquidnet, our Dealer-to-Client credit proposition went live, as planned, in June, initially with a small number of clients ahead of a wider campaign. Trades have already been completed and key dealers are connected electronically via API.

We are committed to delivering capital efficiencies for the Group as a strategic priority. In the first phase of a review we are conducting following our Jersey redomicile, we have identified around £100 million of cash that will be generated or freed up by the end of 2023 and used to repay debt. Following that, and as part of the ongoing assessment of the Group's balance sheet and investment requirements, the Board is committed to identifying and returning any resultant surplus capital to shareholders.

Volatility has continued across many markets. Our core franchise, the depth of our liquidity pools, and our ongoing focus on our transformation mean we are well positioned in these market conditions."

Results for the Period

Reported / statutory results:

 

H1 2022

H1 2021

 

Revenue

£1,080m

£936m

 

EBIT1

£99m

£57m

 

EBIT1 margin

9.2%

6.1%

 

Profit before tax

£72m

£28m

 

Profit for the period3

£65m

£1m

 

Basic EPS

8.2p

0.1p

 

Interim dividend per share

4.5p

4.0p

 

Weighted average shares in issue (basic)

778.6m

737.7m

 

 

Adjusted results:

 

H1 2022

H1 2021

H1 2021

Constant

Currency

Revenue

£1,080m

£936m

£963m

EBITDA2

£185m

£155m

£162m

EBIT1

£142m

£117m

£123m

EBIT1 Margin

13.1%

12.5%

12.8%

Profit before tax

£116m

£88m

£94m

Profit for the period3

£101m

£75m

£81m

Basic EPS

12.8p

10.2p

11.0p

Weighted average shares in issue (basic)

778.6m

737.7m

737.7m

1. Earnings before interest and tax. For reporting purposes EBIT is equivalent to operating profit.

2. Earnings before interest, tax and depreciation & amortisation

3. Attributable to equity holders of the parent

A table reconciling Reported to Adjusted figures is included in the Financial and Operating Review.

The percentage movements referred to in the sections below are in constant currency (unless otherwise indicated). Constant currency refers to prior year comparatives being retranslated at current year foreign exchange rates.

Financial highlights

·      Revenue growth across all business divisions. Higher margin Rates business performing well;

·      We again increased overall market share;

·    Group revenue, excluding Liquidnet, up 7% (up 10% in reported currency); including Liquidnet, Group revenue up 12% (up 15% in reported currency);

·      Global Broking revenue up 8%. All asset classes generated revenue uplift;

·      Global Broking revenue per broker up 14%;

·      Energy & Commodities revenue up 2%. Strong performance in the US and APAC partly offset by decline in European Gas and Power in a "risk off" trading environment;

·      Agency Execution revenue increased by 58%. Excluding Liquidnet, revenue up 10%;

·      Parameta Solutions revenue up 6%. Data & Analytics again delivered double digit revenue growth (11%);

·      On track to achieve £25m of cost savings by the end of 2022;

·      Adjusted EBIT up by 15% to £142m (H1 2021: £123m in constant currency);

·      Reported EBIT increased by 57% to £99m (H1 2021: £63m); and increased by 74% in reported currency (H1 2021: £57m);

·   Adjusted EBIT margin, prior to Russian P&L charges, increased to 16.1% (H1 2021: 12.8% in constant currency); Including Russian impact, adjusted margin was 13.1%;

·      Reported EBIT margin increased to 9.2% (H1 2021: 6.1%);

Capital management highlights

·    Following our Jersey redomicile, we have conducted the first phase of a review which has  identified around £100 million of cash that will be generated or freed up by the end of 2023 and used to repay debt. This will increase our investment grade rating headroom and reduce future finance costs. The Board will continue to assess balance sheet and investment requirements and is committed to identifying and returning any resultant surplus capital to shareholders.

Strategic highlights

·      Continued transformation progress. On track to achieve Fusion rollout targets for the end of 2022;

·      Diversification programme continues, through the following three initiatives:

o  Today, Parameta Solutions is announcing an enhanced consensus pricing solution, leveraging our unique observable transaction data, which we will provide for our global client base. The solution will provide clients with enhanced data for risk and regulatory capital management. This is in partnership with PeerNova, a Silicon Valley data management and analytics firm, and in conjunction with over a dozen of the world's largest investment banks.

o  We are planning to launch (subject to regulatory approval) Fusion Digital Assets, an electronic marketplace for institutions.

o   In May, we became the first inter-dealer broker (IDB) through Parameta Solutions to administer over the counter indices and benchmarks. Part of our strategy to deliver more data driven insights for clients, including for their risk and compliance purposes.

·    The Liquidnet Dealer-to-Client (D2C) proposition launched, as planned, in June. The platform was launched with a small number of clients as the first step, ahead of a wider campaign planned for the second half. The Request for Quote protocol is live and the first trades have been completed. A number of key dealers are already connected via Application Programming Interface (API). This is an exciting growth opportunity for the Group.

·     New senior executives in place to increase the pace of execution. Mark Govoni joined in May from Instinet, where he was President of US Brokerage, to lead Agency Execution. Daniel Fields, previously Global Head of Markets at Société Générale, joined in June to lead Global Broking.

Dividend

An interim dividend per share of 4.5 pence (H1 2021: 4.0 pence) will be paid on 4 November 2022 to shareholders on the register at close of business on 7 October 2022.

Near term outlook

The market environment to date in 2022 has been volatile. This has been driven primarily by monetary policy tightening to combat record levels of inflation, the war in Ukraine and recessionary risks in many countries. This has driven higher trading activity and volumes across most asset classes, which we have benefited from. However, as we often highlight, it remains difficult to predict future levels of market activity, given the highly uncertain macro and geopolitical outlook. Despite the uncertain backdrop, we are cautiously optimistic for the remainder of the year and we are well positioned. In Rates, our outlook is positive, and we will benefit further once activity shifts towards the longer-dated end of the yield curve. Within Energy & Commodities, we expect the risk-off trading environment in the European Gas & Power market to continue in the second half, particularly over the summer months. We expect improved profitability from Liquidnet in the second half.

Group revenue in July 2022 was 1% higher than the corresponding period in 2021, in constant currency.

Forward looking statements

This document contains forward looking statements with respect to the financial condition, results and business of the Company. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. The Company's actual future results may differ materially from the results expressed or implied in these forward-looking statements.

 

Enquiries:

Analysts and investors
Dominic Lagan
Direct: +44 (0) 20 3933 0447

Email: dominic.lagan@tpicap.com
 

Media
Richard Newman
Direct: +44 (0) 7469 039 307

Email: richard.newman@tpicap.com
 

About TP ICAP

·      TP ICAP connects buyers and sellers in global financial, energy and commodities markets.

·      It is the world's leading 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 more than 60 offices across 27 countries, supporting brokers with award-winning and market-leading technology.

 

Regulatory

10 Aug 2022

Interim Results 2022

Financial and interim management report for the six months ended 30 June 2022 (the "Period")
 

TP ICAP Group plc (the "Group") announces its results for the Period today. 

Nicolas Breteau, CEO of the Group, said:

"We have delivered high single digit revenue growth. We have also grown revenue across all our asset classes and increased our market share. A strong performance from Rates, helped deliver an uplift in profitability.

Our transformation continues at pace, including the rollout of Fusion, our award-winning electronic platform. Our focus on diversification is reaping benefits, too. Parameta Solutions is announcing today an enhanced consensus pricing solution in partnership with PeerNova and involving many of the world's largest investment banks. Meanwhile, at Liquidnet, our Dealer-to-Client credit proposition went live, as planned, in June, initially with a small number of clients ahead of a wider campaign. Trades have already been completed and key dealers are connected electronically via API.

We are committed to delivering capital efficiencies for the Group as a strategic priority. In the first phase of a review we are conducting following our Jersey redomicile, we have identified around £100 million of cash that will be generated or freed up by the end of 2023 and used to repay debt. Following that, and as part of the ongoing assessment of the Group's balance sheet and investment requirements, the Board is committed to identifying and returning any resultant surplus capital to shareholders.

Volatility has continued across many markets. Our core franchise, the depth of our liquidity pools, and our ongoing focus on our transformation mean we are well positioned in these market conditions."

Results for the Period

Reported / statutory results:

 

H1 2022

H1 2021

 

Revenue

£1,080m

£936m

 

EBIT1

£99m

£57m

 

EBIT1 margin

9.2%

6.1%

 

Profit before tax

£72m

£28m

 

Profit for the period3

£65m

£1m

 

Basic EPS

8.2p

0.1p

 

Interim dividend per share

4.5p

4.0p

 

Weighted average shares in issue (basic)

778.6m

737.7m

 

 

Adjusted results:

 

H1 2022

H1 2021

H1 2021

Constant

Currency

Revenue

£1,080m

£936m

£963m

EBITDA2

£185m

£155m

£162m

EBIT1

£142m

£117m

£123m

EBIT1 Margin

13.1%

12.5%

12.8%

Profit before tax

£116m

£88m

£94m

Profit for the period3

£101m

£75m

£81m

Basic EPS

12.8p

10.2p

11.0p

Weighted average shares in issue (basic)

778.6m

737.7m

737.7m

1. Earnings before interest and tax. For reporting purposes EBIT is equivalent to operating profit.

2. Earnings before interest, tax and depreciation & amortisation

3. Attributable to equity holders of the parent

A table reconciling Reported to Adjusted figures is included in the Financial and Operating Review.

The percentage movements referred to in the sections below are in constant currency (unless otherwise indicated). Constant currency refers to prior year comparatives being retranslated at current year foreign exchange rates.

Financial highlights

·      Revenue growth across all business divisions. Higher margin Rates business performing well;

·      We again increased overall market share;

·    Group revenue, excluding Liquidnet, up 7% (up 10% in reported currency); including Liquidnet, Group revenue up 12% (up 15% in reported currency);

·      Global Broking revenue up 8%. All asset classes generated revenue uplift;

·      Global Broking revenue per broker up 14%;

·      Energy & Commodities revenue up 2%. Strong performance in the US and APAC partly offset by decline in European Gas and Power in a "risk off" trading environment;

·      Agency Execution revenue increased by 58%. Excluding Liquidnet, revenue up 10%;

·      Parameta Solutions revenue up 6%. Data & Analytics again delivered double digit revenue growth (11%);

·      On track to achieve £25m of cost savings by the end of 2022;

·      Adjusted EBIT up by 15% to £142m (H1 2021: £123m in constant currency);

·      Reported EBIT increased by 57% to £99m (H1 2021: £63m); and increased by 74% in reported currency (H1 2021: £57m);

·   Adjusted EBIT margin, prior to Russian P&L charges, increased to 16.1% (H1 2021: 12.8% in constant currency); Including Russian impact, adjusted margin was 13.1%;

·      Reported EBIT margin increased to 9.2% (H1 2021: 6.1%);

Capital management highlights

·    Following our Jersey redomicile, we have conducted the first phase of a review which has  identified around £100 million of cash that will be generated or freed up by the end of 2023 and used to repay debt. This will increase our investment grade rating headroom and reduce future finance costs. The Board will continue to assess balance sheet and investment requirements and is committed to identifying and returning any resultant surplus capital to shareholders.

Strategic highlights

·      Continued transformation progress. On track to achieve Fusion rollout targets for the end of 2022;

·      Diversification programme continues, through the following three initiatives:

o  Today, Parameta Solutions is announcing an enhanced consensus pricing solution, leveraging our unique observable transaction data, which we will provide for our global client base. The solution will provide clients with enhanced data for risk and regulatory capital management. This is in partnership with PeerNova, a Silicon Valley data management and analytics firm, and in conjunction with over a dozen of the world's largest investment banks.

o  We are planning to launch (subject to regulatory approval) Fusion Digital Assets, an electronic marketplace for institutions.

o   In May, we became the first inter-dealer broker (IDB) through Parameta Solutions to administer over the counter indices and benchmarks. Part of our strategy to deliver more data driven insights for clients, including for their risk and compliance purposes.

·    The Liquidnet Dealer-to-Client (D2C) proposition launched, as planned, in June. The platform was launched with a small number of clients as the first step, ahead of a wider campaign planned for the second half. The Request for Quote protocol is live and the first trades have been completed. A number of key dealers are already connected via Application Programming Interface (API). This is an exciting growth opportunity for the Group.

·     New senior executives in place to increase the pace of execution. Mark Govoni joined in May from Instinet, where he was President of US Brokerage, to lead Agency Execution. Daniel Fields, previously Global Head of Markets at Société Générale, joined in June to lead Global Broking.

Dividend

An interim dividend per share of 4.5 pence (H1 2021: 4.0 pence) will be paid on 4 November 2022 to shareholders on the register at close of business on 7 October 2022.

Near term outlook

The market environment to date in 2022 has been volatile. This has been driven primarily by monetary policy tightening to combat record levels of inflation, the war in Ukraine and recessionary risks in many countries. This has driven higher trading activity and volumes across most asset classes, which we have benefited from. However, as we often highlight, it remains difficult to predict future levels of market activity, given the highly uncertain macro and geopolitical outlook. Despite the uncertain backdrop, we are cautiously optimistic for the remainder of the year and we are well positioned. In Rates, our outlook is positive, and we will benefit further once activity shifts towards the longer-dated end of the yield curve. Within Energy & Commodities, we expect the risk-off trading environment in the European Gas & Power market to continue in the second half, particularly over the summer months. We expect improved profitability from Liquidnet in the second half.

Group revenue in July 2022 was 1% higher than the corresponding period in 2021, in constant currency.

Forward looking statements

This document contains forward looking statements with respect to the financial condition, results and business of the Company. By their nature, forward looking statements involve risk and uncertainty and there may be subsequent variations to estimates. The Company's actual future results may differ materially from the results expressed or implied in these forward-looking statements.

 

Enquiries:

Analysts and investors
Dominic Lagan
Direct: +44 (0) 20 3933 0447

Email: dominic.lagan@tpicap.com
 

Media
Richard Newman
Direct: +44 (0) 7469 039 307

Email: richard.newman@tpicap.com
 

About TP ICAP

·      TP ICAP connects buyers and sellers in global financial, energy and commodities markets.

·      It is the world's leading 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 more than 60 offices across 27 countries, supporting brokers with award-winning and market-leading technology.

 

News

20 Jun 2022

TP ICAP appoints new CEO of Global Broking

Press Release

20 Jun 2022

TP ICAP appoints new CEO of Global Broking

TP ICAP, a leading electronic market infrastructure and information provider, announces that it has appointed Daniel Fields as CEO of its Global Broking division, reporting directly into Group CEO, Nicolas Breteau.

In the news

20 Jun 2022

TP ICAP appoints new CEO of Global Broking

TP ICAP, a leading electronic market infrastructure and information provider, announces that it has appointed Daniel Fields as CEO of its Global Broking division, reporting directly into Group CEO, Nicolas Breteau.

Fields has worked in capital markets for over 25 years. His experience includes the role of Global Head of Markets at Société Générale, having previously served as Global Head of Trading and Global Head of Sales in its Global Banking and Investor Solutions division.  He joins TP ICAP from Altero Capital Partners, where he focused on strategic advisory and capital markets.

As CEO of Global Broking, Fields will be responsible for driving further growth in the business and delivering strategic execution, including the continued rollout of TP ICAP’s innovative electronic platform, Fusion.

The move means that Andrew Polydor, who has led both Global Broking and Energy & Commodities (E&C) throughout the pandemic, will return to focusing on the E&C business as CEO. Supporting Polydor will be George Dranganoudis, who transfers from APAC to become Deputy CEO of E&C and EMEA CEO of E&C.

The appointment of Fields follows that of Mark Govoni as CEO of Agency Execution, announced in April of this year.

Nicolas Breteau, CEO of TP ICAP, said:

The appointment of Dan as CEO of our Global Broking business is another important strategic hire for TP ICAP as we continue to build out the strength of our leadership team. His extensive experience in capital markets and strong client relationships position him as the perfect candidate to drive the transformation of Global Broking.

“I’d like to thank Andrew for steering the business effectively through the turbulent years of the pandemic and various macro-economic shocks. He is now able to return to focusing on our E&C business. This division is continuing to embed technology and grow in key areas, such as our renewables and digital assets businesses.”

Daniel Fields, CEO of Global Broking at TP ICAP, said:

“TP ICAP’s Global Broking business is a world-renowned market leader, underpinned by a huge amount of expertise, trusted networks and innovative technology. I’m excited to take the reins at a time of major change, both within the wider markets and within TP ICAP. Already, the firm is making great progress advancing its strategy – for example, rolling out its electronic platform, Fusion – and I’m looking forward to working with such a talented team to continue to drive progress so that TP ICAP remains at the forefront of the industry.”

ENDS

 

 

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

  • Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
  • Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
  • Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
  • Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

 

 

Media Contact

Fay Rajaratnam

+44 7812811374

Fay.Rajaratnam@tpicap.com

 

Regulatory

20 Jun 2022

TP ICAP appoints new CEO of Global Broking

TP ICAP, a leading electronic market infrastructure and information provider, announces that it has appointed Daniel Fields as CEO of its Global Broking division, reporting directly into Group CEO, Nicolas Breteau.

Fields has worked in capital markets for over 25 years. His experience includes the role of Global Head of Markets at Société Générale, having previously served as Global Head of Trading and Global Head of Sales in its Global Banking and Investor Solutions division.  He joins TP ICAP from Altero Capital Partners, where he focused on strategic advisory and capital markets.

As CEO of Global Broking, Fields will be responsible for driving further growth in the business and delivering strategic execution, including the continued rollout of TP ICAP’s innovative electronic platform, Fusion.

The move means that Andrew Polydor, who has led both Global Broking and Energy & Commodities (E&C) throughout the pandemic, will return to focusing on the E&C business as CEO. Supporting Polydor will be George Dranganoudis, who transfers from APAC to become Deputy CEO of E&C and EMEA CEO of E&C.

The appointment of Fields follows that of Mark Govoni as CEO of Agency Execution, announced in April of this year.

Nicolas Breteau, CEO of TP ICAP, said:

The appointment of Dan as CEO of our Global Broking business is another important strategic hire for TP ICAP as we continue to build out the strength of our leadership team. His extensive experience in capital markets and strong client relationships position him as the perfect candidate to drive the transformation of Global Broking.

“I’d like to thank Andrew for steering the business effectively through the turbulent years of the pandemic and various macro-economic shocks. He is now able to return to focusing on our E&C business. This division is continuing to embed technology and grow in key areas, such as our renewables and digital assets businesses.”

Daniel Fields, CEO of Global Broking at TP ICAP, said:

“TP ICAP’s Global Broking business is a world-renowned market leader, underpinned by a huge amount of expertise, trusted networks and innovative technology. I’m excited to take the reins at a time of major change, both within the wider markets and within TP ICAP. Already, the firm is making great progress advancing its strategy – for example, rolling out its electronic platform, Fusion – and I’m looking forward to working with such a talented team to continue to drive progress so that TP ICAP remains at the forefront of the industry.”

ENDS

 

 

About TP ICAP Group plc

TP ICAP Group plc is a leading global markets infrastructure and data solutions provider.  The Group operates a portfolio of separate and competing brands to deliver intermediary services, contextual insights and intelligence, trade execution, pre- and post-trade services, and data-led solutions. We are formed of four business divisions:

  • Global Broking: the largest Interdealer Broker in the world operating under the ICAP, Tullett Prebon and Louis Capital brands servicing clients in Rates, FX, Credit and Equities. We match buyers and sellers, facilitate price discovery, liquidity, execution and risk management.
  • Energy & Commodities: the world’s leading OTC energy and commodities broker operating under the ICAP, PVM and Tullett Prebon brands. Active in all major commodities markets including oil, gas, power, renewables, ferrous metals, base metals, precious metals and soft commodities. 
  • Agency Execution: serving the buy side operating under the Liquidnet and COEX Partners brands. We provide trading services for a broad range of asset classes, serving a sophisticated client base of asset managers, asset owners and hedge funds.
  • Parameta Solutions: formed of two businesses - Data & Analytics (D&A) and Post Trade Solutions.  D&A is the world leader in providing of scarce, neutral OTC data.  Consequently, it is well placed to offer unbiased data products and solutions that facilitate trading, enhance transparency, reduce risk, improve operational efficiency and a broad range of risk management solutions.  Post Trade Solutions provides pure electronic services focused on resetting, compression and repo.

 

 

Media Contact

Fay Rajaratnam

+44 7812811374

Fay.Rajaratnam@tpicap.com

 

Our Brands

Connections create strength


Each of our premium brands has a distinct, client-focused offering, underpinned by the financial security, operational strength and robust governance of TP ICAP Group.

Together, we connect clients seamlessly and responsibly, helping them to achieve their financial goals and enable effective capital markets.
 

Latest Reports & Presentations

Interim Results 2022 - Analyst Presentation

10 August 2022

Interim Results 2022 - Analyst Presentation

Interim Results 2022 - Analyst Presentation
Interim Results 2022

10 August 2022

Interim Results 2022

TP ICAP Interim Results 2022

Work With Us

Joining the TP ICAP Group puts you at the heart of markets that matter.

You’ll have the freedom to innovate and act on your initiative. We’ll train you and build your abilities in your specialist area, so that you can become an expert in your field. And all within a connected network that’s set up to give you the dynamic career you deserve.

£1,080m

REVENUE

£142m

ADJUSTED EBIT

Interim results for the six months ended 30 June 2022

13.1%

ADJUSTED EBIT MARGIN