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Flow Traders reports normalised profit of €34.5 million

Dennis Dijkstra, CEO of Flow Traders

A Dutch fintech firm that is proposing to set up a top holding company in Bermuda has reported a third quarter normalised net profit of €34.5 million.

The year-to-date normalised net profit is €116.6 million, the company said.

Netherlands-based Flow Traders NV is a global financial technology-enabled liquidity provider in financial products, historically specialised in exchange traded products, and now expanding into other asset classes.

On October 21, Flow announced a proposed implementation of an updated corporate holding structure, as an enabler of its global strategic ambition.

This proposed update will involve a top holding company in Bermuda and is the result of a thorough legal and capital structure review, the company said.

Flow will propose the updated corporate holding structure to shareholders at an Extraordinary General Meeting, scheduled to be held virtually on December 2.

Dennis Dijkstra, CEO of Flow Traders, said: “This quarter delivered further proof points with respect to the diligent execution of our strategic growth agenda, particularly in fixed income.

“Our liquidity provision across the fixed income space which includes ETFs as well as corporate credit and emerging markets sovereign bonds continues to be positively received by the buy-side and we were delighted to be the lead sponsor once again at the recent Fixed Income Leadership Summit in Nice.

“Another landmark for Flow Traders was the successful approval of our QFII license which is a key part of our plan to enter the mainland China market. Given the strong financial performance in the quarter and within the context of our capital allocation framework, we have elected to increase the current share buyback programme to a new total size of up to €40 million. This buyback will further enhance the capital returns to our shareholders.”

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Published October 31, 2022 at 7:38 am (Updated October 31, 2022 at 7:38 am)

Flow Traders reports normalised profit of €34.5 million

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