Slide 1: Flow Traders Ltd. 3Q 2025 Trading Update
30 OCTOBER 2025 Flow Traders Ltd. 3Q 2025 Trading Update Flow Traders |
Slide 2: Disclaimer
Disclaimer This presentation is prepared by Flow Traders Ltd. and is for information purposes only and the material Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly contained in this document is provided ‘as is’. It is not a recommendation to engage
Slide 3: 3Q 2025 Trading Update Snapshot
3Q 2025 Trading Update Snapshot Muted results given a more subdued market environment compared to a year ago ETP Value Traded (€bn) Total Value Traded (€bn) Total Income (€m) Summary Flow Traders Equity Other NTI Market FICC Other income Flow Traders’ ETP Value Traded increased by 17% y/y to €426b
Slide 4: Global ETP Market Continues to Grow in 3Q 2025
Global ETP Market Continues to Grow in 3Q 2025 ETP net fund inflows and AUM continue to set records ETP Value Traded (€bn) * Average Implied Volatility (VIX) 17,257 60 16,509 15,085 GENERAL MARKET DEVELOPMENTS 55 14,425 50 13,676 11,640 13,190 Market ETP Valued Traded in the 45 11,714 11,981 11,745
Slide 5: Fixed Income and Crypto Market Dynamics
Fixed Income and Crypto Market Dynamics Crypto ETP value traded increased significantly due primarily to the increase in the value of cryptocurrencies TRACE Volumes ($bn) MOVE Index US Investment Grade US High Yield 3,438 3,447 140 3,243 BOND MARKET DEVELOPMENTS 3,115 3,069 2,902 2,916 757 853 120 2,
Slide 6: 3Q 2025 Regional Performance Overview
3Q 2025 Regional Performance Overview Market ETP Value Traded (€bn) Flow ETP Value Traded (€bn) Revenue (€m) 3Q25 Highlights +36% +41% +9% 2,434 649 205 187 Europe 1,792 460 Europe: Maintained position as a leading liquidity +18% +15% -34% provider in ETPs amidst declining market activity and vola
Slide 7: Steady Operating Margins Due to Variable Compensation Philosophy
Steady Operating Margins Due to Variable Compensation Philosophy Fixed Operating Expenses (€m) EBITDA Margin (%) FTEs Employee expenses (fixed) Trading Technology Other Technology expenses Other expenses 44% 42% 42% +15% 151.7 594 605 609 619 607 622 132.2 166 169 173 179 179 160 71.6 24% 61.5 +14% 2
Slide 8: New Credit Facilities Boost Trading Capital to over €1 Billion
New Credit Facilities Boost Trading Capital to over €1 Billion Secured $200 million private credit facility and $75 million revolving credit facility Trading Capital and Return on Average Trading Capital Shareholders’ Equity and Return on Equity 1,200 164% 180 1,200 101% 110 Trading Capital (€m) Sha
Slide 9: Q&A
Q&A Flow Traders | 9
Slide 10: Thank You
Thank You FLOW B@TRADERS
Slide 11: Appendix
Appendix Flow Traders | 11
Slide 12: Variable Employee Compensation and Deferral Schedule
Variable Employee Compensation and Deferral Schedule Deferred share awards plan results in deferred variable employee expenses 2024 charge 2025 charge 2026 charge Off balance liability 2026 -33% 11% Share awards amount 2026 -33% 30-35% adjusted 28% share for 2025 -50% awards employee turnover 2026 -
Slide 13: Latest Market ETP Statistics
Latest Market ETP Statistics Flow Traders | 13