UK's TP ICAP may list data business in US as early as second quarter
The world's largest inter-dealer broker has been exploring options for Parameta Solutions since about a year and is focused on a possible U.S. listing of a minority stake. "Our priority is to create sustainable shareholder value and retain, for the long-term, the majority of any upside potential, while providing Parameta with a greater ability to grow on a standalone basis," TP ICAP CEO Nicolas Breteau said in a statement. Parameta, which sells data to traders, accounted for 8.8% of overall revenue in 2024.