Advanced Markets reports first profit in 3 years

Advanced Markets (UK) Limited, the UK trading arm of a multi-asset liquidity and prime-of-prime services provider, has published its annual report and accounts for the twelve month period ended 31 December 2021.

Advanced Markets

Latest results from UK Companies House showed a healthy increase in sales coupled with a modest profit for the period.

For FY2021, Advanced Markets revenue rose to £1.29m compared to just £1.14m a year earlier – this was 13 per cent year-on-year growth, by far the largest growth segment.

However, Advanced Markets saw an increase in administrative expenses last financial year, which were reported at £1.31m, up 2.3 per cent year-on-year from £1.28m in 2020.

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Looking at the group’s balance sheet for the fiscal year, which excludes interest received and other income, Advanced Markets reported net income of $49,850. That figure is a lot better than the £111,367 the company lost a year earlier.

Advanced Markets institutional business operates a 100% STP/Agency model based on its FCA and AFSL licenses. Advanced Markets’ STP platform allows FX market participants to trade prices streamed from 10+ FX banks in an anonymous market structure.

The company has expanded its liquidity offering over the past two years by introducing CFDs on single stocks and cryptocurrencies, which marked the first phase of its pivotal move into the emerging arena.

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Earlier this month, the firm onboarded Evangeline Mauthe as its newest compliance and AML officer as part of a broader organizational reorganization of liquidity and PoP service provider.

Ms. Mauthe is leaving a brief tenure of just five months at BNP Paribas, where she held an analogous role as Senior Due Diligence Controller. Evangeline started her career in the FX industry in 2011 when she joined Alpari (UK) as a team leader for compliance and account opening.

The compliance veteran has also held positions at AxiCorp and Equiti Group ME, part of a career that dates back to 1995.

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Earlier this year, Advanced Markets had seen an executive exodus, with key employees leaving the institutional broker. In January, Lynn Zhou, global marketing director, left the company after more than two years in the position.

The news threw some cold water on AMG’s US business outlook, as Lynn became the second executive to leave the Boston office in less than two months. Her departure comes just weeks after Natallia Hunik left Advanced Markets, ending a lengthy tenure and multiple roles at the liquidity provider. The 13-year-old FX veteran joined enterprise risk management solutions provider CubeLogic as Chief Revenue Officer.