Swiss interdealer broker, Compagnie Financière Tradition, posted a rise in consolidated revenue for the first nine months of 2023, reaching CHF738.3 million ($803.2 million). This represents an increase of 9.7% at constant exchange rates from CHF716.3 million ($779.5 million) during the same period in the previous year.
The company's adjusted revenue also demonstrated a significant uptick of 8.8% at constant exchange rates, climbing to CHF793.5 million ($863.5 million) from CHF777.7 million ($846.7 million) in the prior year. This growth was largely fueled by an upswing in interdealer broking business (8.7%) and a surge in forex trading among Japanese retail investors (10.4%).
The performance of the Swiss franc against major currencies such as the US dollar, pound sterling, and Japanese yen had a notable impact on the firm's consolidated revenue. Despite this factor, the overall growth trend remained positive.
However, the third quarter of 2023 saw a dip in the company's revenue by 3.2% at current exchange rates. This downturn was short-lived as Compagnie Financière Tradition reported a rebound in October activity, with levels rising nearly 9% at constant exchange rates compared to the same period last year.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.