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November 27, 2020 – The London-headquartered FCA regulated Prime of Prime IS Prime has reported strong growth numbers for the 6th consecutive year, with a 30% increase in turnover y/e 31 March 2020. Reported figures show a rise from £27.6m y/e 2019 to £36m y/e 2020. In 2019 the firm reported a 60% increase in turnover from 17.2m y/e 2018 to £27.6m y/e 2019.
Perhaps more impressive is the reported operating profit, which almost tripled from £5.9m to £17.6m, which the company says is largely attributed to client growth combined with increased efficiencies from its highly scalable proprietary systems. This almost 300% rise in operating profit for 2020, is set against the numbers for 2019, when net profit for the financial year was reported to have increased by 11.5%, rising from £4.6m to £5.2m. In 2019 the company reported that Net assets increased from £7.7m to £10.7m - this year Net assets for y/e 20 have remained steady at £10.7m.
IS Prime, founded in 2014, is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong and IS Risk Analytics. Figures for ISAM Capital Markets have not been disclosed.
Raj Sitlani and Jonathan Brewer, IS Prime
Raj Sitlani, Managing Director, ISAM Capital Markets, “Our financials confirm IS Prime’s position as a global market leader in our industry and we are very pleased to report yet another year of record revenues. We have achieved significant growth outside the UK, virtually doubling our turnover in the rest of Europe. We have also seen major growth in Asia and the Middle East as well as diversification of our client base across the banking, asset management and hedge fund space.
“We have continued to invest in our exceptionally talented team and our proprietary technology, ensuring that IS Prime delivers a high calibre, broad and competitive service offering to clients.
“We cannot make direct comparisons with financial results from our first few years as we restructured in 2017 to become part of ISAM Capital Markets, with some of our products and services subsequently accounted for in other businesses within the group. ISAM Capital Markets has also achieved significant growth in risk management services and technology services, with IS Risk Analytics and IS Prime Hong Kong both having yet another outstanding year.”
IS Prime offers full service brokerage and execution via its cutting edge proprietary technology. As a Prime of Prime, IS Prime provides aggregated pricing sourced from Tier one institutions, settled through the group’s bank Prime brokers. ISAM Capital Markets also includes IS Prime Hong Kong (regulated by the SFC) and risk management specialist, IS Risk Analytics.
