Advanced Markets UK Reports Stronger Revenue and Mitigated Loss ‎for 2020‎

abdelaziz Fathi

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, 2020. The latest results on UK Companies House showed a healthy uptick in turnover in conjunction with a mitigated financial loss for the reported fiscal period.

For the fiscal year 2020,‎ Advanced Markets’ revenue surged to £1.14 million relative to just £637,000 in the year prior– this was a growth by 80 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 £1.28 million, up by a factor of 22 percent year-over-year from £1.05 million in 2019.

Operating losses were pointed lower during FY 2020, albeit still in the red. 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 loss of £111,367. This figure is much better than the £302,00 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.

Earlier in May, the company has welcomed two new investors, Forexify and Corbel, to join existing shareholders Macquarie Group and GFI Group LLC. The latter firms have reduced their stakes, citing their desire to accommodate new investors for the next phase of Advanced Markets’ growth.

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.

Advanced Markets Group has also strengthened its partnership with FinTech provider Centroid Solutions, which provides a wide array of services to the brokerages, including risk management services, connectivity, aggregation, and regulatory reporting.

Read this next

Retail FX

Italian watchdog red flags Olympus Brokers, UnicoFX and Allfina Group

Italy’s Commissione Nazionale per le Società e la Borsa (CONSOB) has shut down new websites in an ongoing clampdown against firms it accuses of illegally promoting investment products in the country.

Retail FX

XTB revenues hits zł1.45 billion in 2022, Q4 earnings disappoint

Poland-based Forex and CFDs broker, XTB has reported its final results for Q4 of 2022 and the full fiscal year ending on December 31, 2022, showing one of its most successful corporate years.

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

<