Advanced Markets reports first profit in 3 years
Advanced Markets (UK) Limited, the UK trading arm of a multi-asset liquidity and prime-of-prime service provider, has released its annual report and year-end financial statements for the 12-month period ending December 31, 2021.
The latest results on UK Companies House showed a healthy uptick in turnover in conjunction with a modest profit for the reported fiscal period.
For the fiscal year 2021, Advanced Markets’ revenue surged to £1.29 million relative to just £1.14 million in the year prior– this was a growth by 13 percent year-over-year, by far its largest growth segment.
However, Advanced Markets experienced a rise in administrative expenses during the latest fiscal period, reported at £1.31 million, up by a factor of 2.3 percent year-over-year from £1.28 million in 2020.
Looking at the group’s bottom-line metrics for the financial year, which factored out interest receivable and other income, Advanced Markets reported a net profit of $49,850. This figure is much better than the £111,367 the company lost a year earlier.
Advanced Markets’ institutional business operates a 100 percent STP/agency model based on its FCA and AFSL licenses. Advanced Markets’ STP platform enables FX market participants to trade on prices streamed by more than ten FX banks in an anonymous market structure.
The company has expanded its liquidity offering throughout the last two years by launching CFDs on single stocks and cryptocurrencies, which marked the first stage of its decisive move into the surging arena.
Earlier this month, the company onboarded Evangeline Mauthe as its newest compliance and AML officer as part of a broader organizational reshuffling at the liquidity and PoP service provider.
Ms. Mauthe leaves a short tenure of only five months at BNP Paribas, where she held an analogues role as a senior due diligence controller. Evangeline kicked off her career within the foreign exchange industry back in 2011 when she joined Alpari (UK) as a compliance and account opening team leader.
The compliance veteran also held roles at AxiCorp and Equiti Group ME, part of a career dating back to 1995.
Earlier this year, Advanced Markets had seen exec exodus with key personnel leaving the institutional broker. In January, its global marketing manager Lynn Zhou left the firm after more than two years in the position.
The news threw some cold water on predication for AMG’s business in the US as Lynn was the second executive to leave Boston office in less than two months. Her departure came a few weeks after Natallia Hunik left Advanced Markets, ending a lengthy tenure and multiple roles with the liquidity provider. The 13-year FX veteran joined the enterprise risk management solutions provider CubeLogic as Chief Revenue Officer.