TP ICAP Group plc (LON:TCAP) has announced its financial and preliminary management report for the year ended 31 December 2023.
CEO REVIEW
INTRODUCTION
We are a world-leading provider of market infrastructure and data-led solutions. We connect institutional clients to global financial, energy and commodities markets, creating deep liquidity, and unique data, in the process.
Our objective is to deliver sustainable shareholder value. We aim to do so through leveraging our strong franchise, and delivering our strategy, which has three key pillars: transformation, diversification and dynamic capital management. We are making good progress on all fronts.
Now is an opportune time to assess (a) our progress in 2023 and (b) delivery of our key 2023 targets and progress since the Capital Markets Day (‘CMD’) we held in 2020, when we set out the main elements of our strategy. I will cover both of these topics in detail.
DELIVERING IN 2023
Market developments
The era of easy money is over. Interest rates in the US and UK are at 22 and 15-year highs, respectively. Whilst these conditions were favourable for Global Broking, the exceptional trading volumes in 2022 did not recur at the same level in 2023.
