XTX Markets, one of the new wave of electronic market-makers challenging the dominant currency banks, saw its annual profits soar by almost 60% in 2016.
The proprietary trading firm, founded by Russian-educated mathematician Alex Gerko in January 2015, reported pre-tax profits of £75.8m in the year to December 31, 2016, according to accounts filed at Companies House on August 7. Revenues rose more than 80% to £131.9m.
