TP ICAP sees lift in trading activity in Q4 2016

TP ICAP said the last three months of 2016 have seen an increase in trading activity compared with the prior year.

The figures are unaudited and relate to trading performance for the 12 months to 31 December 2016 for the Tullett Prebon business only.

Revenue for the year ended 31 December 2016 is expected to be approximately 12% higher than the £796.0m reported in 2015, and 4% higher at constant exchange rates, it said in a statement prior to its close period.

"The business has delivered revenue growth across all product lines in the fourth quarter and in particular in our traditional 'heritage' products of Interest Rate Derivatives, Fixed Income and Treasury Products," TP ICAP said.

"The aftermath of the US presidential election and the expectation of future interest rate rises have seen an increase in volatility and market activity, which has particularly benefitted these products.

"Our acquisition of NEX Group plc's global hybrid voice broking and information business completed on 30 December 2016 and our extensive integration plan has swiftly moved to the implementation phase.

"Guidance on the financial performance of the combined business will be provided together with a 2016 pro forma result for the aggregated business when we present the preliminary results in March."