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Financial broker NEX reports 7 pct rise in first-half revenue
October 2, 2017 / 6:37 AM / 2 months ago

Financial broker NEX reports 7 pct rise in first-half revenue

Oct 2 (Reuters) - British financial broker NEX Group Plc said revenue rose 7 percent in the first half of the year, but added that increased spending at its post-trade and information services operations would dent that division’s profitability.

The company, which matches buyers and sellers of bonds, swaps and currencies, said the effect of increased investment on its profit margin is expected to normalise in the second half of the year.

Interdealer brokers benefited last year from increased market volatility after unexpected outcomes in global politics, such as Donald Trump’s victory in the U.S. presidential election and Britain’s decision to leave the European Union.

However, the wider sector has long struggled with declining volumes, hit by regulation designed to rein in the riskier trading activities of traditional investment bank clients.

Reporting by Rahul B in Bengaluru, editing by Louise Heavens

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