Advanced Markets UK Reports Stronger Revenue And Mitigated Loss For 2020
Oct 15, 2021
Advanced Markets (UK) Limited, the UK trading arm of a multi-asset liquidity and prime-of-prime service provider, has released its annual report and year-end financial statements for the 12-month period ending December 31, 2020. The latest results on UK Companies House showed a healthy uptick in turnover in conjunction with a mitigated financial loss for the reported fiscal period.
For the fiscal year 2020, Advanced Markets’ revenue surged to £1.14 million relative to just £637,000 in the year prior– this was a growth by 80 percent year-over-year, by far its largest growth segment.
However, Advanced Markets experienced a rise in administrative expenses during the latest fiscal period, reported at £1.28 million, up by a factor of 22 percent year-over-year from £1.05 million in 2019.
Operating losses were pointed lower during FY 2020, albeit still in the red. Looking at the group’s bottom-line metrics for the financial year, which factored out interest receivable and other income, Advanced Markets reported a net loss of £111,367. This figure is much better than the £302,00 the company lost a year earlier.
Advanced Markets’ institutional business operates a 100 percent STP/agency model based on its FCA and AFSL licenses. Advanced Markets’ STP platform enables FX market participants to trade on prices streamed by more than ten FX banks in an anonymous market structure.
Earlier in May, the company welcomed two new investors, Forexify and Corbel, to join existing shareholders Macquarie Group and GFI Group LLC. The latter firms have reduced their stakes, citing their desire to accommodate new investors for the next phase of Advanced Markets’ growth.
The company has expanded its liquidity offering throughout the last two years by launching CFDs on single stocks and cryptocurrencies, which marked the first stage of its decisive move into the surging arena.
Advanced Markets Group has also strengthened its partnership with FinTech provider Centroid Solutions, which provides a wide array of services to the brokerages, including risk management services, connectivity, aggregation, and regulatory reporting.