Our business model
Our business enablers
1.
Technology
Our proprietary platforms are best-in-class, delivering industry leading reliability, performance, and customer satisfaction. Continuous innovation ensures we remain at the forefront of trading and investment technology.
2.
Financial strength
We are financially strong, well-capitalised and highly cash generative, with no debt. This solid financial foundation enables us to invest in growth while maintaining resilience across market cycles.
3.
Risk management
We adopt a robust, disciplined approach to risk management, ensuring we operate within well-defined parameters to protect our business and customers.
4.
Reputation
Trust is at the core of our industry. We are committed to delivering for our customers, maintaining our reputation for excellence, integrity, and service quality.
Our client offering
Optimising and Expanding Two Core Verticals
Third Vertical to Refine Future State
Direct to Consumer
Best-in-class multi asset trading and investing experience
Platform Tech as a Service
Institutional grade platform technology and execution services across B2B and B2B2C
DeFi & Web 3.0 Capabilities
DeFi and Web 3.0 capabilities transforming market access and efficiency
Pioneering the inevitable convergence of Web 3.0 and TradFi
How we make money
Trading
Trading net revenue
£248.9m
Spreads
Revenue earned through maintaining a transactional spread (the difference between the buy and sell price) on CFD and spread bet products.
Commissions
These are charged on both CFD equity trades and institutional DMA trades. Clients are either charged a minimum commission or a percentage based on the value of the trade.
Financing
Positions held by clients overnight may be subject to financing costs, which can be positive or negative depending on the direction of their holding and the applicable financing rate.
Rebates and levies
Volume-based rebates paid to professional, high value retail and institutional clients and introducing brokers on selected asset classes.
Risk management gains/(losses)
Revenue or losses from management of client positions that the Group inherits. This consists of gains or losses which accrue to the Group through client positions and, secondly, the gains or losses which accrue to the Group through the hedge positions entered into by the Group, including hedge transaction costs.
Investing
£44.4m
Net revenue in Australia predominantly earned through brokerage charged for the execution of exchange traded products, options, warrants, ETFs, managed funds, interest rate securities and bonds. Further, we earn fees including FX revenue on international shares, and equity capital markets (“ECM”) income.
Interest income – trading and investing
£42.5m
Interest income from the Group’s own funds and income on client funds
Other income
£4.3m
How we add value
1 / 2
- 1View our awards
- 2Turnover reflects the notional value of client trades.