Sucden Financial reports another year of strong financial performance

Sucden Financial shows steady profit and revenue figures against the previous period, whilst net assets are up by £10 million

Sucden Financial, the global multi-asset execution, clearing and liquidity provider, has announced its latest financial results. The audited accounts for the year ending 31 December 2019, record continued strong revenues and profits, together with a strengthened balance sheet.

Key highlights

• Total net assets of £125.6 million, against £115.6 million in 2018

• Net revenues of £59 million, against £63.3 million in 2018

• Net profit of £16.1 million, against £16.4 million in 2018

“Our 2019 financial results show the strength and success of our diversified business. This year we have been adapting our processes to deal with the effects of the COVID-19 virus on our working environment and its impacts for our clients and markets. Our dedicated workforce and resilient infrastructure have allowed us to not only maintain but continue enhancing our multi-asset services” – Marc Bailey,Chief Executive Officer, Sucden Financial

 

Read this next

Digital Assets

FTX resumes salary payments to employees and contractors, except in Bahamas and Australia

“FTX also is making cash payments to selected non-U.S. vendors and service providers where necessary to preserve business operations, subject to the limits approved by the Bankruptcy Court. We recognize the hardship imposed by the temporary interruption in these payments and thank all of our valuable employees and partners for their support.”

Market News

Rishi Sunak’s reign in real data

After several weeks of Rishi Sunak’s appointment as the new Prime Minister, it is obvious that he has claimed quite the public support.

Digital Assets

CrossTower acquires BEQUANT to help crypto industry reset and consolidate

“We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance.”

Retail FX

Plum launches crypto offering for EU residents

Plum has added crypto investing to its range of investment options in France, Belgium, Spain, and Ireland. Residents there will be able to buy and sell cryptocurrencies in their app with just a few taps, via services provided by Bitpanda.

Retail FX

FX/CFD and Crypto broker Quantfury launches fractional trading of stocks, ETFs, commodities

“Quantfury is advancing its unmatched trading and investing conditions further by making it even more affordable to Quantfurians out there. Fractional trading mode opens up more trading opportunities to the Quantfury global audience of more than 400,000 Quantfurians.”

Industry News

SEC awards $20 million to whistleblower despite degree of culpability and reporting delay

The Securities and Exchange Commission has awarded a whistleblower with $20 million for providing new and critical information that led to the success of an enforcement action.

Institutional FX

Tradesmarter’s white label WOW TRADER integrates with TradingView

Tradesmarter’s white label trading platform solution WOW TRADER has integrated with TradingView, the high performance and mobile friendly charting tool.

Industry News

ASIC loses fee overcharging case against Commonwealth Bank of Australia

“ASIC pursued this case because we believed CBA did not have robust compliance systems to ensure customers were being correctly charged. ASIC will carefully consider the judgment and continue to work to ensure large financial institutions charge fees correctly and put their customers first.”

Digital Assets

Kraken pays $362K fine for onboarding Iranian users

Cryptocurrency exchange Kraken will pay $362,158 to settle its civil liability for apparent violations of US sanctions on countries like Iran, the Treasury Department’s Office of Foreign Assets Control said.

<