Flow Traders : Spreads tightened this summer (preview 3Q 2021)
>We forecast 3Q 2021 NTI at €82m and reduce our 2021e NTI by 2% - Although, we expect ETP traded value was sticky quarter-over-quarter, the market slowed down especially in fixed income. Seasonally, Q3 is a relatively slow quarter. This summer volatility decreased and spreads tightened. We think we were too optimistic and reduce our 3Q 2021 NTI to c. €82m from €89m. We cut our FY21e NTI by 2%, 2021e EBITDA by 3% and 2021e EPS by 3%. We leave our view on 2022e and 2023...Flow Traders Cooperatief UA is a global technology-enabled liquidity provider, which specializes in Exchange Traded Products (ETPs). As a technology company operating in a financial services industry, Co. uses its proprietary technology platform to quote, bid and ask prices in thousands of ETP listings, as well as similar financial products. Co. also provides liquidity to institutional counterparties off-exchange across all regions. Liquidity provision makes markets more efficient and transparent, promoting better execution quality and lower overall trading costs for market participants.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.