2024 Profitability ReboundA sharp 2024 earnings rebound and materially higher net margin indicate the firm can generate large trading profits when market conditions favor liquidity providers. Sustained higher profitability would strengthen retained capital, enabling investment in tech and risk systems that support market making at scale.
Improved Equity Base And ROEA larger equity base and improved ROE provide durable financial cushioning for a market‑making business that faces episodic losses. Higher equity supports regulatory capital needs and lets the firm absorb volatility, expand quoting capacity, and maintain counterparty credibility over multiple market cycles.
Technology-driven Market Making ModelA technology-first, low-latency market making model is a structural competitive advantage: it enables tighter quoting, efficient hedging and multi-venue scale. Durable edge in execution and risk controls supports consistent ability to capture spread income as ETP volumes grow over time.