(Adds details on U.S. market volatility, context)
May 10 (Reuters) - The world’s biggest interdealer broker, TP ICAP, reported a 3 percent rise in revenue for the first four months of 2018 on Thursday, citing a boost from higher U.S. stock market volatility.
The company, which brings together buyers and sellers in financial, energy and commodities markets, said volatility in equities markets in the Americas pushed revenue from its Equities business 22 percent higher.
Group revenue in the four months to April came in at 601 million pounds ($815.4 million).
ICAP and other brokers have been suffering for several years from generally lower volatility on financial markets as investors reined in risk-taking and stock markets racked up almost a decade of constant gains.
The stock market’s main gauge of volatility, however, the CBOE Volatility Index, surged to its highest in more than two years in early February as rising bond yields sparked the biggest sell-off on Wall Street in six years.
Since then markets have been consistently more volatile than a year ago, also showing the effects of wobbles in high-flying tech stocks and the fear of a full-scale trade war with China.
The FTSE 250-listed firm, formed after Tullet Prebon bought now NEX Group’s global hybrid voice broking unit in 2016, said it was on track to deliver synergies target of 100 million pounds from that deal.
TP ICAP added that it expects new combined offices of the group to open in London and New York shortly. ($1 = 0.7371 pounds) (Reporting by Rahul B in Bengaluru; editing by Patrick Graham)