TP ICAP’s Parameta Solutions data business surpassed £200 million of annual recurring revenue during the first half of 2026 as new-business activity accelerated and the group continued building its high-margin financial market data franchise.
Parameta generated £102 million of H1 revenue, increasing 6% year-over-year on a constant-currency basis. Annual recurring revenue also increased 6% and exceeded £200 million at the end of the period.
Within Parameta, Data & Analytics revenue increased 8% to £97 million. The division generated £44 million of contribution and £36 million of adjusted EBIT, resulting in an adjusted EBIT margin of 35.3%.
TP ICAP described Parameta as a strategic, high-margin data solutions franchise and said new-business activity accelerated during the first half. Management also pointed to a materially stronger pipeline, while noting that the modest decline in adjusted EBIT margin from 36.5% a year earlier reflected planned investments.
Parameta is also extending its index franchise. The business is expanding its EUR and USD Swap Rate Indices into additional currencies, broadening the potential addressable market for its benchmark and analytics products.
The data business is part of a broader TP ICAP portfolio that produced £1.292 billion of first-half revenue, an increase of 8% on a constant-currency basis. Adjusted EBIT increased 9% on the same basis to £196 million, while adjusted basic EPS increased 10% to 19.3 pence.
Global Broking remained the group’s largest division, with revenue increasing 11% to £783 million and adjusted EBIT increasing 22%. TP ICAP said AI tools have already been deployed within Global Broking and are gaining traction.
TP ICAP is simultaneously accelerating its transformation program. The company now expects to exceed its £50 million 2027 savings target during 2026, one year earlier than originally planned. The program includes changes spanning its target operating model, real estate, procurement and vendor management, legal entity consolidation, technology and data.
The company also increased capital returns. TP ICAP announced an additional £30 million share repurchase and increased its interim dividend by 8% to 5.6 pence, bringing total announced 2026 share buybacks to £110 million.
