Flow Traders 4Q 2025 Pre-Close Call

Core Viewpoint - Flow Traders is preparing for its 4Q 2025 results, highlighting increased market trading volumes and volatility across various asset classes, which positively impacts its business performance [2][11]. Market Environment - Market trading volumes and volatility in 4Q 2025 were higher year-on-year and quarter-on-quarter across most asset classes and regions, except for some declines in specific areas like China and Hong Kong [3]. - In Equity, trading volumes increased across most regions, with European exchanges and the Americas showing significant growth [4][5]. - In APAC, mixed volume trends were observed, with Hong Kong and Shanghai seeing year-on-year increases but quarter-on-quarter declines, while Tokyo experienced growth in both comparisons [6]. - Fixed Income trading volumes were flat to slightly up, but volatility levels declined [7]. - Digital Assets saw flat year-on-year trading volumes but a significant quarter-on-quarter increase, with Bitcoin's volatility showing similar trends [8]. ETP Market Volumes - On and Off Exchange Value Traded increased significantly, with EMEA up 23%, Americas up 68%, APAC up 65%, and globally up 65% year-on-year [9]. - Compared to the previous quarter, On and Off Exchange Value Traded rose by 33% in EMEA, 34% in the Americas, 18% in APAC, and 30% globally [10]. Impact on Flow Traders - The increase in market trading volumes and volatility positively impacted Flow Traders' performance across all regions compared to the previous quarter [11]. - Fixed Operating Expenses remained within the previously guided range for the quarter [11].