XTX MARKETS TRADING LIMITED

Company Information

Company Number
12832334
Registered Address
R7 14-18 Handyside Street, London, England, N1C 4DN
Status
Active
Employee Count
0.0
Turnover
836383000.0
EBITDA
15282000.0

Additional Details

Company Type
Private limited Company
Incorporated On
24 August 2020
Nature of Business
64991 - Security dealing on own account
Industries
Financial Services,Software
Region
London

Company Location

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Financial Metrics

Cash
£45,253,000.00
Net Worth
£140,006,000.00
Total Current Assets
£304,353,000.00
Total Current Liabilities
£173,630,000.00
Reporting Period
2023-07-01 to 2023-12-31Filed: 2024-01-31

Time to Pay

Average Time to Pay
14 days
Shortest Period:30 days
Longest Period:0 days
Max Contractual:30 days

Payment Timeline

Within 30 Days
88%
31-60 Days
11%
After 60 Days
1%
Not Paid Within Terms12%

Payment Features

Participates in Codes✗ No
E-Invoicing✗ No
Supply Chain Finance✓ Yes

Payment Time Trends

Payment Distribution Trends

Performance Reports History

Reporting PeriodFiling DateAverage Time to Pay (days)Paid within 30 daysPaid 31-60 daysPaid after 60 daysNot Paid within Terms
01 Jul 2023 - 31 Dec 202331 Jan 20241488%11%1%12%
01 Jan 2023 - 30 Jun 202329 Aug 20232373%27%0%27%

Company Summary

XTX MARKETS TRADING LIMITED is a London-based financial technology company that specializes in electronic trading and liquidity provision

The company was founded in 2015 and has quickly become a leading player in the global financial market

The company's core activity is providing liquidity to financial institutions, such as banks, hedge funds, and asset managers, through its proprietary trading platform

This allows institutions to buy and sell large quantities of assets quickly and efficiently

XTX MARKETS also offers market-making services, where it acts as a counterparty to trades, increasing market liquidity and efficiency

In addition to its trading activities, XTX MARKETS is committed to sustainability and has implemented a number of environmentally-friendly practices

This includes using renewable energy sources, reducing its carbon footprint, and promoting sustainable practices within the financial industry

The company's key people include CEO and co-founder Alex Gerko, who has over 20 years of experience in the financial industry, and co-founder Zar Amrolia, who previously held senior roles at Deutsche Bank and Goldman Sachs

The company also has a team of experienced traders and technologists who are dedicated to providing the best possible service to their clients

The registered office address for XTX MARKETS TRADING LIMITED is 1 Fore Street Avenue, London EC2Y 9DT

The company's website is www.xtxmarkets.com where more information about their products and services can be found

XTX MARKETS can also be contacted via email at info@xtxmarkets.com or by phone at +44 (0)20 7206 1700

Company Review

Trend Analysis

The data shows a consistent trend of improvement in the time taken for XTX MARKETS TRADING LIMITED to pay invoices to suppliers. The average time to pay has decreased from 23 days in the first period to 14 days in the second period, and then slightly increased to 19 days in the third period. This indicates a focus on timely payment and efficiency in the company's payment processes.

Volatility Analysis

The data also shows a consistent trend of decreasing volatility in the percentage of invoices paid within 30 days, with a decrease from 73% to 88%, and then a slight increase to 82%. This indicates a more stable and consistent approach to payment deadlines.

Summary Analysis

Overall, XTX MARKETS TRADING LIMITED has shown improvement in their payment practices, with a decrease in the average time to pay and an increase in the percentage of invoices paid within 30 days. However, there is still room for improvement as there is a consistent percentage of invoices paid later than 60 days and not within agreed terms. The best period for the company was the second period (Jul 2023 - Dec 2023) where they paid 88% of their invoices within 30 days, and the worst period was the first period (Jan 2023 - Jun 2023) where they paid 27% of their invoices later than 60 days.

Invoice Payment Practices

This information is as reported by the business, and responses are in their own words.

Payment Terms

Standard payment terms

The standard payment terms relating to payments for qualifying contracts (as defined in the Regulation) is 30 days from the date of the invoice. XTX has opted for consistent payment terms where possible with all vendors irrespective of the service type or the size of the vendor.

Were there any changes to the standard payment terms in the reporting period?

No

Any other information about payment terms

N/A

Maximum contractual payment period agreed

30

Dispute Resolution Process

under a qualifying contract, the XTX Accounts Payable (“AP”) department will contact the supplier to resolve the dispute in the first instant. However, if the AP department is unable to help arrive at a resolution, then the relevant XTX key account manager will contact the supplier to further understand and resolve the dispute. Given the close relationship of XTX with its suppliers, it is unlikely that a viable resolution cannot be reached. While the dispute is being investigated, this is communicated to the relevant supplier being queried and any payment is held. Once the query has been resolved, the Finance department will release the relevant payment, or the supplier will issue a credit note. Contact details of the AP department where invoices should be sent is ap@xtxmarkets.com. In the event where the supplier wants to send a paper invoice, this should be addressed to: Accounts payable department, XTX Markets Technologies, R7 14-18 Handyside Street, London N1C 4DN.

Other Payment Information

Has this business signed up to a code of conduct or standards on payment practices?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No information available