Shares in TP ICAP climbed almost 9% today after the global markets tech company revealed record results and announced an £80 million share buyback.
The FTSE 250 firm reported a rise in revenue and profits – but hinted that it is reconsidering an IPO of its data business.
TP ICAP, headquartered and listed in London since 2000, connects buyers and sellers in global financial, energy and commodities markets. The firm operates from more than 60 offices across 28 countries, supporting brokers with technology.
For the 12 months ended 31st December 2025, it reported revenue of almost £2.4 billion – up 4% on the prior year – and profit before tax of £230m, up from £214m.
Group net management and support costs were £533m, reduced by 1%, despite inflation, UK National Insurance increases and continued investment.
Its shares are up 5% in the year to date.
However the firm said it was keeping a potential IPO of its data business Parameta Solutions – which grew to £202m revenue last year – under review as “the context to achieve a successful listing remains challenging”.
Parameta, spun off in 2021, sells information on markets including rates, credit and equities.
Volatility caused by President Trump’s tariffs held up previous plans to float a minority stake in the business in New York last year.
“TP ICAP delivered another year of strong revenue and profit growth,” said Nicolas Breteau, group CEO.
“This strong performance reflects the disciplined execution of our strategy. We grew the business, maintained strict cost control and continued to drive operating leverage.
“This is evident in our increasingly diversified buy-side and sell-side offering, with both Global Broking and Liquidnet delivering record profitability.
“Reflecting our strong financial delivery, operational progress and continued capital discipline, I am pleased to announce the launch of an £80m share buyback. This distribution includes £50m from our legal entities rationalisation programme, delivered ahead of schedule.
“We operate at the centre of the world’s most complex financial markets, which present significant long‑term opportunities.
“We remain confident in our outlook, supported by the strength of our diversified business and disciplined delivery of our strategy.”