TP ICAP Group (LSE: TCAP) reported its strongest annual results on record today (Thursday), with full-year revenue hitting $3.15 billion (£2.35 billion) and adjusted operating profit beating market forecasts, as the interdealer broker announced a $107 million (£80 million) share buyback and raised its dividend for the year.Group revenue for the twelve months ended December 31, 2025 rose 4% at reported exchange rates, or 6% at constant currency, to $3.15 billion, compared with $3.02 billion a year earlier. Adjusted earnings before interest and tax climbed 7% on a reported basis - or 10% at constant currency - to $466 million, ahead of the analyst consensus the company said it had compiled from six forecasters.Reported pre-tax profit came in at $308 million, up from $287 million in 2024, while basic earnings per share rose 14% to 25.2 pence. On an adjusted basis, EPS increased 5% to 33.5 pence."TP ICAP delivered another year of strong revenue and profit growth," said CEO Nicolas Breteau. "At constant currency, our Global Broking franchise achieved record revenue growth of 10%, while total Group revenue increased by 6% to £2.4bn, and adjusted EBIT increased 10% to £348m."Global Broking Drives Record GrowthThe engine of this year's performance was Global Broking, which accounts for 58% of total Group revenue and posted a 10% constant currency increase to $1.84 billion.Every asset class within the division grew, the company said, with Rates contributing $849 million, up 12%, and Credit jumping 15% to $173 million, partly helped by the 2025 acquisition of Neptune Networks. Equities also rose 12% in constant currency to $356 million, while FX and Money Markets delivered a more modest 2% gain.Broker productivity improved 8% year-on-year, with average revenue per broker rising to $1.01 million (£752,000), compared with $979,000 (£732,000) in 2024. The division's adjusted EBIT reached $323 million (£241 million), up from $270 million (£202 million) at constant currency. TP ICAP said it intends to build on this momentum through the pending acquisition of Vantage Capital Markets, announced in January 2026, which the company expects to strengthen its equity derivatives and fixed income presence across Asia-Pacific.FinanceMagnates.com also reported in February that the platform had already passed $1 billion in monthly trading volume before its structural overhaul.Key Financial MetricsAll USD conversions at £1 = $1.3379, as of March 12, 2026Liquidnet and Parameta Hold SteadyLiquidnet, TP ICAP's multi-asset agency execution business, grew revenue 4% at constant currency to $489 million (£365 million), matching the prior year's pace. The first half saw strong equity market volumes driven by geopolitical events and tariff uncertainty. Block trading sentiment became more cautious in the second half, the company acknowledged, though multi-asset agency volumes benefited from rate and FX volatility tied to US trade policy developments. Algorithmic trading activity rose 26% on the platform, and the APAC business grew 16%, the firm said.Parameta Solutions, the Group's subscription data unit, posted a 5% constant currency revenue increase to $270 million (£202m). Subscription-based revenues represent 97% of the total.. The company also said its board continues to review a potential minority stock market listing of Parameta Solutions but described market conditions for an IPO as "challenging."Buyback and Dividend Cap a Big Year for Shareholder ReturnsThursday's results came alongside a $107 million (£80 million) buyback announcement, the sixth such program the company has launched, bringing total share buybacks over the past three years to $308 million (£230 million). Combined with dividends, TP ICAP said it has returned or announced nearly $803 million (£600 million) to shareholders since 2023, placing it in the top quartile of FTSE 250 companies for distributions over that period.Half-year results published in August 2025 showed revenue of $1.63 billion (£1.22 billion) and net adjusted earnings of $174 million (£130 million) for the first six months, laying the foundation for the strong full-year outcome. This article was written by Damian Chmiel at www.financemagnates.com.

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