Institutional Segment Growth
The institutional segment saw record net operating revenues and segment income with growth of 27% and 41%, respectively. This was driven by a $38.9 million increase in securities revenues.
Self-Directed Retail Segment Performance
Net operating revenues were up 18% and segment income was up 49%, driven by a 34% increase in average daily volume and FX CFD contracts. On a sequential basis, net operating revenues were up 26% and segment income was up 87%.
Record Client Onboarding in Custody and Clearing
The company onboarded a record number of new institutional clients, including hedge funds, ETFs, and proprietary trading firms. EMEA and APAC custody businesses achieved a 66% increase in net operating revenue in Q3.
Acquisition of R.J. O'Brien and Benchmark
Closed the RJO and Benchmark acquisitions, with RJO expected to be materially accretive to earnings and EPS. RJO generated $766 million in revenue and approximately $170 million in EBITDA during calendar 2024.