TP ICAP Group plc (LON:TCAP) has announced its Trading Update for the three months ended 31 March 2026
Record Q1 result driven by strong execution amid favourable market conditions
The Group delivered record total revenue of £689 million in Q1 2026, an increase of 13 per cent* year-on-year. This excellent result was led by Global Broking and Energy & Commodities, with revenues +15 per cent and +13 per cent respectively. During the quarter we demonstrated strong execution across all asset classes and regions, set against volatile market conditions and elevated trading volumes.
Liquidnet also performed well, with revenue +9 per cent as it continued to expand both its core equities platform and multi-asset agency execution business. At Parameta Solutions, recently added sales reps are beginning to contribute and the business remains focused on buy-side engagement, new logos, upsell and retention, with Q1 revenue +4 per cent.
Outlook
The record Q1 result represents a very strong start to the year, reflecting the disciplined execution of our strategy to grow our business while maintaining strict cost discipline, and supported by favourable market conditions. As market leaders we are well-positioned to continue to support our clients with highly trusted, reliable execution, and insight as they manage their risk during the continuing macroeconomic and geopolitical uncertainty.
The Board remains comfortable with the outlook for the remainder of the year at current FX rates**.
* Growth rates shown are versus prior year period at constant currency.
** Approximately 60 per cent of Group revenues and 40 per cent of Group costs are USD-denominated.
2026 Annual General Meeting
The Group will host its Annual General Meeting today, Wednesday 13 May 2026, at 2.15pm (BST) at the offices of Allen & Overy Shearman Sterling LLP, One Bishops Square, London, E1 6AD.
2026 interim results
TP ICAP will report its interim results for the six months ended 30 June 2026 on 6 August 2026.
