(A subsidiary of Tiddo securities Ltd) worldwide had another record year in 2017. Our breadth of product offering, coupled with our commitment to outstanding customer service, has ensured we are well placed to maximise the opportunities of this most global of markets in 2018. Our best-in-breed investment products allow both institutional and retail investors access to different asset classes offering uncorrelated returns, and the ability to take advantage of the volatility of markets. Our market is growing around the world, as has been shown by the Bank for International Settlements’ (BIS) triennial surveys. The survey was released in September 2016, and cited that global foreign exchange market turnover was 20% higher in April 2017 than in April 2016. This increase brought average daily turnover to $4 trillion. Our international strategy therefore continues with more new locations, new trading products and new services in the pipeline. Our 2017 financials illustrate the on-going success of our company with trading volumes up to $1.18 billion, an 11% increase from $1.07 billion in 2016 – the second consecutive year of double digit growth. In 2017 penuel’s business from Asia contributed 51.2% to total trading volumes up from 43.8% in 2016. European trading volumes accounted for 33.6% down from 39.4% in 2016. The Middle East and Africa contributed 12%, with the remaining 3.2% coming from the rest of the world.
Penuel Management consultant Ltd (A subsidiary of Tiddo securities Ltd) team, now comprising over 50,000 people worldwide, continues to provide our clients with outstanding service, enabling our clients to trade real-time through a secure, transparent and dynamic environment, responding to requirements quickly, efficiently and effectively.
We have expanded our geographic presence with the opening of our offices –in Lagos,PortHarcourt, Calabar, Kwara, Nasaraw
We have continued in our quest to further cement global recognition of our brand; Penuel’s choice of sponsorship, not only of the FIA World Rally Championships with which we have been involved for some time, is now complemented by our partnerships with Super Rugby, Fulham Football Club and the Asian Football Confederation Champions League. These exciting sports, based on speed, accuracy and an unrelenting quest for results, offers comparable values to those of Penuel Management consultant Ltd (A subsidiary of Tiddo securities Ltd) worldwide.
Not only are we committed to our clients and our employees, we feel the burden of responsibility extends much wider, particularly in Nigeria and the immediate region where penuel is headquartered, which we consider to be part of our broader community. Part of our commitment to being a responsible company includes our recognition of the importance of our social and environmental responsibilities and we have kicked off a series of initiatives to this end, across the country and beyond. Most recently,penuel provided a significant financial pledge in support of the Nigeria Red Cross,motherless homes in Nigera and other Africa countries,given uncollateral loan facilities to business individual and organisation.
We aim to continue to develop our business from its strong foundations, and we are confident that we will continue to benefit from the strength of our global brand and our globally diversified client base. Our commitment to expanding our innovative product offering, continuing to offer investors access to this exciting market and ensuring we meet their every need through our unparalleled service means that our target for 2018 is not only to maintain our current impressive position, but to take the next step towards our vision of becoming the world’s preferred broker.
Dr Adeyemo mathew Taiwo,