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NEX Group's Q1 revenue rises under more "normalised" market conditions
July 12, 2017 / 6:25 AM / 2 months ago

NEX Group's Q1 revenue rises under more "normalised" market conditions

July 12 (Reuters) - NEX Group Plc, the financial trading and technology company, reported a rise in first-quarter revenue as financial markets started to move towards more “normalised” conditions despite low volatility, with interest rate rises in the US and better economic conditions in Europe.

The company, which provides electronic trading platforms for banks, asset managers, hedge funds and companies globally, posted a 10 percent increase in revenue for the three months to June, once currency fluctuations are stripped out.

NEX, which was known as ICAP until the sale of its voice broking business to TP ICAP, said trading activity at its NEX Markets unit was held back by low volatility, with episodes of increased activity around the French election and a U.S. rate rise.

The unit provides foreign exchange and fixed income electronic trading technology and services via its EBS and BrokerTec platforms. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rachel Armstrong)

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