Verified facts
TP ICAP reports third-quarter revenue of £620m, up 11% at both actual and constant exchange rates. Nine-month revenue reached £1.912bn, up 7% at actual rates and 9% at constant currency.
Global Broking's quarterly constant-currency revenue rose 16%, while Liquidnet fell 1%. The board remains comfortable with annual market expectations for adjusted EBIT, subject to currency movements.
Apolifina analysis
The divisional split matters more than a uniform growth story. Intermediaries can benefit from clients trading and managing risk even when market conditions are uncomfortable for asset owners. That does not mean every business line benefits equally, or that stronger revenue guarantees higher earnings.
Uncertainty and risk
Adjusted EBIT is not statutory profit. Trading activity, currency and costs can alter the full-year outcome. Revenue growth should not be treated as a forecast of shareholder returns. General information, not personal financial advice.
Primary sources
Source released 3 November 2026. Published 3 November 2026.
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