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September 28, 2022

Equiti Capital UK Limited Reports Profits Growth Of 113%, Mostly From FX Agency Business

September 28, 2022 – Equiti Capital UK has reported an increase in profitability of 113% for the financial year ending December 2021, with a net profit of $3.7 million. The increase in profitability was driven by a 5% growth in trading revenues underpinned by a small reduction in costs.

Record volumes were generated by Equiti Capital’s FX Agency desk which grew 84% year-on-year. Commenting on the financial results,** Paul Webb, a director of Equiti Capital UK**, said, “With our ambitious business plans and investment in strategic elements of the business, Equiti Capital continues to see the potential for strong growth in revenues over the next financial year.”

The company has been heavily focused on turning Equiti Capital UK, Equiti Group’s UK entity, into a centre of excellence to service the wider global group, particularly in terms of product development and marketing. A significant investment in the growth of the marketing team in London has bolstered the Group’s global marketing support, which is a key part of the long-term Group strategy. Similarly, the build out of the product team led to the launch of 80 leveraged and fully funded crypto CFDs to professional categorised clients, another area of investment for Equiti Capital.

In May 2021, Equiti Capital added NatWest as an additional tier-1 Prime Broker to support its FX desk and its ability to provide its clients with access to FX derivatives including NDFs, forwards, swaps, vanilla and exotic options. At the time of the announcement last May, Benedict Sears, Head of Equiti Capital’s FX Desk, said, "As a desk we have been heavily working on building out our electronic CLOB (Central Limit Order Book), we also have found great success in matching off the interest of clients in the Options market which allows the firms to get in and out of positions around mid, thus reducing the spreads they pay. We work hand in hand with local market makers trying to match off the interest they have with those of our buyside clients, resulting in unique axes and pricing.

“We find clients are often looking for help in executing large orders, with an emphasis on reducing market impact. Our Desk is able to help clients with this while maintaining a level of market access which would be unfeasible to maintain for a Buyside firm in the fragmented OTC FX market”.

Equiti Capital will continue to focus on technology for its Trading Operations and further enhancing the strong Compliance and Risk functions that have been embedded within the firm’s structure and culture.

The company entered 2022 in a strong financial position with $36m in capital.

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