XTX Markets Revenue Rises 43% to £3.93 Billion in 2025
XTX Markets
generated £3.93 billion in combined net revenue across its three main UK
operating entities in 2025, up from £2.74 billion the prior year, according to
annual reports filed with Companies House. Combined net profit for the three
entities reached £1.71 billion, compared with £1.28 billion in 2024, building
on the more than 50%
earnings jump the firm reported for the previous year.
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XTX Technologies Entity
Drives the Gains
XTX Markets
Technologies Limited, the group’s UK intellectual property and services arm,
accounted for the vast majority of the consolidated result. Its net revenue
climbed to £3.02 billion in 2025 from £2.04 billion in 2024, a 48% rise, while
profit after tax reached £1.69 billion, according to the filing.
The entity,
registered under Companies House number 12300034, develops, enhances and
provides intellectual property to affiliated trading companies within the wider
XTX Holdings group, generating income through service fee arrangements.
Administrative
expenses at the entity rose sharply, to £766 million in 2025 from £382 million
the prior year, though profit margins remained strong, with a net profit after
tax margin of 56%, down slightly from 61% in 2024, according to the filing. The
return on opening net assets stood at 289%, up from 248% the year before.
Trading Arms Post Mixed
Numbers
The group’s
two FCA-regulated trading entities, both operating as proprietary electronic
firms under MIFIDPRU, reported divergent results for the year. XTX Markets
Trading Limited, which trades across equity, fixed income and commodity
markets, posted net revenue of £849 million in 2025, up from £636 million in
2024, per its filing. Its profit after tax, however, slipped to £21 million
from £23 million, as variable costs scaled closely with revenues and
administrative expenses rose to £823 million.
XTX Markets
Limited, the group’s original trading entity with a focus on equity and FX
markets, reported net revenue of £62 million, roughly in line with £61 million
the prior year. Profit after tax fell to £791,000 from £9.2 million in 2024,
the filing shows, a result the directors attributed largely to the impact of
revenue-geared variable costs and certain discretionary expenses.
XTX Markets – Key
Financial KPIs by Entity, 2025 (£m)
|
KPI |
Technologies |
Trading Ltd |
Markets Ltd |
Combined |
|
Net Revenue |
3,022.4 |
849.2 |
62.0 |
3,933.6 |
|
Admin Expenses |
765.6 |
822.5 |
59.9 |
1,648.1 |
|
Profit Before Tax |
2,277.1 |
26.2 |
3.4 |
2,306.7 |
|
Tax |
589.6 |
5.1 |
2.6 |
597.3 |
|
Profit After Tax |
1,687.5 |
21.1 |
0.8 |
1,709.4 |
Dividends Flow North to
Cayman Islands
XTX Markets
Technologies Limited paid £1.78 billion in interim dividends during 2025 to its
immediate holding company, XTX Holdings Limited, incorporated in the Cayman
Islands and UK tax resident. That compares with £1.17 billion paid the year
before. Following the close of the reporting period, the entity paid a further
£331 million in January 2026 and £261 million in March 2026, according to the
filing.
XTX’s founder and ultimate
controlling party, Alex Gerko, owns approximately 75% of the group and has
emerged as one of Britain’s wealthiest individuals. In mid-2025,
Gerko challenged a £22.5 million tax bill at the UK’s Supreme Court, contesting how British authorities
tax certain complex financial arrangements connected to the group.
Headcount and Pay at the
Core Entity
XTX Markets
Technologies Limited employed 127 people at year-end 2025, up from 113 in 2024.
Total wages and salaries at the entity reached £58 million, giving an average
of approximately £457,000 per employee, compared with roughly £436,000 the year
prior. The firm’s director remuneration totaled £1.31 million across three
directors, with the highest-paid director receiving £0.8 million, according to
the filing.
Capital
expenditure at XTX Markets Technologies Limited reached £16.3 million in 2025,
up from £6.4 million in 2024, covering new IT trading equipment, office
infrastructure and a newly capitalised intangible asset. Total energy
consumption at the entity rose 11% year-on-year, though all UK energy
consumption came from renewable sources, giving a zero gross carbon footprint
for the period, per the filing.
XTX announced
plans earlier in 2025 to invest €1 billion in a data center complex in Kajaani,
Finland, with the
first 22.5-megawatt facility scheduled for completion in 2026. The site spans
478 acres and is designed to accommodate the firm’s growing GPU infrastructure.
Founded in
2015, XTX now handles approximately $250 billion in daily trading volume across
35 countries. Its UK profit
first crossed the £1 billion threshold in 2022, a level it has exceeded substantially in each
year since.
XTX Markets
generated £3.93 billion in combined net revenue across its three main UK
operating entities in 2025, up from £2.74 billion the prior year, according to
annual reports filed with Companies House. Combined net profit for the three
entities reached £1.71 billion, compared with £1.28 billion in 2024, building
on the more than 50%
earnings jump the firm reported for the previous year.
Singapore Summit: Meet the largest APAC brokers you know (and those you still don’t!)
XTX Technologies Entity
Drives the Gains
XTX Markets
Technologies Limited, the group’s UK intellectual property and services arm,
accounted for the vast majority of the consolidated result. Its net revenue
climbed to £3.02 billion in 2025 from £2.04 billion in 2024, a 48% rise, while
profit after tax reached £1.69 billion, according to the filing.
The entity,
registered under Companies House number 12300034, develops, enhances and
provides intellectual property to affiliated trading companies within the wider
XTX Holdings group, generating income through service fee arrangements.
Administrative
expenses at the entity rose sharply, to £766 million in 2025 from £382 million
the prior year, though profit margins remained strong, with a net profit after
tax margin of 56%, down slightly from 61% in 2024, according to the filing. The
return on opening net assets stood at 289%, up from 248% the year before.
Trading Arms Post Mixed
Numbers
The group’s
two FCA-regulated trading entities, both operating as proprietary electronic
firms under MIFIDPRU, reported divergent results for the year. XTX Markets
Trading Limited, which trades across equity, fixed income and commodity
markets, posted net revenue of £849 million in 2025, up from £636 million in
2024, per its filing. Its profit after tax, however, slipped to £21 million
from £23 million, as variable costs scaled closely with revenues and
administrative expenses rose to £823 million.
XTX Markets
Limited, the group’s original trading entity with a focus on equity and FX
markets, reported net revenue of £62 million, roughly in line with £61 million
the prior year. Profit after tax fell to £791,000 from £9.2 million in 2024,
the filing shows, a result the directors attributed largely to the impact of
revenue-geared variable costs and certain discretionary expenses.
XTX Markets – Key
Financial KPIs by Entity, 2025 (£m)
|
KPI |
Technologies |
Trading Ltd |
Markets Ltd |
Combined |
|
Net Revenue |
3,022.4 |
849.2 |
62.0 |
3,933.6 |
|
Admin Expenses |
765.6 |
822.5 |
59.9 |
1,648.1 |
|
Profit Before Tax |
2,277.1 |
26.2 |
3.4 |
2,306.7 |
|
Tax |
589.6 |
5.1 |
2.6 |
597.3 |
|
Profit After Tax |
1,687.5 |
21.1 |
0.8 |
1,709.4 |
Dividends Flow North to
Cayman Islands
XTX Markets
Technologies Limited paid £1.78 billion in interim dividends during 2025 to its
immediate holding company, XTX Holdings Limited, incorporated in the Cayman
Islands and UK tax resident. That compares with £1.17 billion paid the year
before. Following the close of the reporting period, the entity paid a further
£331 million in January 2026 and £261 million in March 2026, according to the
filing.
XTX’s founder and ultimate
controlling party, Alex Gerko, owns approximately 75% of the group and has
emerged as one of Britain’s wealthiest individuals. In mid-2025,
Gerko challenged a £22.5 million tax bill at the UK’s Supreme Court, contesting how British authorities
tax certain complex financial arrangements connected to the group.
Headcount and Pay at the
Core Entity
XTX Markets
Technologies Limited employed 127 people at year-end 2025, up from 113 in 2024.
Total wages and salaries at the entity reached £58 million, giving an average
of approximately £457,000 per employee, compared with roughly £436,000 the year
prior. The firm’s director remuneration totaled £1.31 million across three
directors, with the highest-paid director receiving £0.8 million, according to
the filing.
Capital
expenditure at XTX Markets Technologies Limited reached £16.3 million in 2025,
up from £6.4 million in 2024, covering new IT trading equipment, office
infrastructure and a newly capitalised intangible asset. Total energy
consumption at the entity rose 11% year-on-year, though all UK energy
consumption came from renewable sources, giving a zero gross carbon footprint
for the period, per the filing.
XTX announced
plans earlier in 2025 to invest €1 billion in a data center complex in Kajaani,
Finland, with the
first 22.5-megawatt facility scheduled for completion in 2026. The site spans
478 acres and is designed to accommodate the firm’s growing GPU infrastructure.
Founded in
2015, XTX now handles approximately $250 billion in daily trading volume across
35 countries. Its UK profit
first crossed the £1 billion threshold in 2022, a level it has exceeded substantially in each
year since.
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