XTX MARKETS TRADING LIMITED
Company Details
Registration Number
12832334
Registered Address
R7 14-18 Handyside Street London England N1C 4DN
Company Status
Active
Employee Count
0
Turnover
£836,383,000
EBITDA
£15,282,000
Additional Information
Website
Add urlCompany Type
Private limited Company
Incorporated on
24 August 2020
Nature of Business (SIC)
64991 - Security dealing on own account
Industries
Trading platforms
Region
LondonCompany Location
Financial Overview
£45,253,000
£140,006,000
Last Reporting Period
Filed
31 Jan 2024
Period
01 Jul 2023 - 31 Dec 2023
Payment Timing
Average Time to Pay
14 days
Payment Periods
Shortest
30 days
Longest
0 days
Max Contractual
30 days
Payment Timeline
Not Paid Within Terms
12%
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 14 | 88% | 11% | 1% | 12% |
| 01 Jan 2023 - 30 Jun 2023 | 29 Aug 2023 | 23 | 73% | 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.
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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.
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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?
❌
