Tradeweb, a global operator of bond and derivatives trading venues, benefited last year from market volatility and the continued migration of over-the-counter markets onto electronic platforms, as its European profits increased by a fifth.

Tradeweb Europe Ltd - the European subsidiary of the New York-based operator - posted a 19% increase in pre-tax profits to £15.3m for 2012, according to filings at the UK's Companies House last week. Revenues increased by 12% to £44.6m, but the operator was able to cap its administrative expenses, which rose by 9% to £29.4m, the filings showed.