Illinois proposal would let community colleges like Black Hawk offer 4-year degrees
'Students come with different needs, different wants,' Thomas told Our Quad Cities News. '[A community college is] much more diverse than you would see a more restrictive four-year college level. We now have another option that I can offer to a student to say, 'I believe in you, and I want you to be successful.'
That new option could be four-year degrees at community colleges after Illinois Gov. J.B. Pritzker proposed the idea during his State of the State address. He even called community colleges one of the 'jewels' of the Illinois education system.
'We continue our partnerships with our universities over our four-year liberal arts transfer degree programs,' Thomas said. 'We're not here to replace that, but we are adding in the areas that they currently don't teach that we do well.'
Currently, more than 20 other states allow community colleges to offer four-year degrees.
'This allows students to earn an advanced degree and stay right here with a campus they are accustomed to, and faculty which they love,' Thomas said.
If the bill is passed, Thomas said he thinks Black Hawk College will look to first add four-year degree programs in the health profession, advanced manufacturing, and cyber security.
'These are programs we already have faculty (for,) so we don't have to start from scratch, but there will be approval processes,' Thomas said. 'That's all yet to be decided on what it will look like, so that will be the next step.'
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments. The information and materials contained in this press release are provided 'as is' and Flow Traders Ltd. or any of its affiliates ('Flow Traders') do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders. This press release may include forward-looking statements, which are based on Flow Traders' current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as 'may', 'will', 'would', 'should', 'expect', 'intend', 'estimate', 'anticipate', 'project', 'believe', 'could', 'hope', 'seek', 'plan', 'foresee', 'aim', 'objective', 'potential', 'goal' 'strategy', 'target', 'continue' and similar expressions or their negatives are used to identify these forward-looking statements. 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In his role as Chief Executive Officer, Thomas will be responsible for executing Flow Traders' strategic agenda, which includes the Company's growth and diversification strategy and Trading Capital Expansion Plan. Financial Overview €million 2Q25 2Q24 Change 1H25 1H24 Change Net trading income 143.4 79.5 80% 283.6 206.6 37% Other income 0.5 (3.3) – (4.6) (0.8) – Total income 143.9 76.2 89% 279.0 205.8 36% Revenue by region2 Europe 78.7 48.6 62% 158.6 117.0 35% Americas 30.2 13.4 125% 41.7 54.7 (24%) Asia 35.1 14.2 147% 78.8 34.1 131% Fixed employee expenses 23.4 20.4 15% 47.7 41.1 16% Technology expenses 16.8 16.8 0% 34.2 32.6 5% Other expenses 9.5 5.9 61% 18.6 13.6 37% Fixed operating expenses 49.8 43.1 15% 100.5 87.2 15% Variable employee expenses 26.2 11.2 134% 48.2 35.0 38% Total operating expenses 76.0 54.3 40% 148.7 122.2 22% EBITDA 68.0 21.9 210% 130.3 83.6 56% Interest expenses 0.4 0.1 321% 0.9 0.1 738% Lease expenses 0.5 0.6 (21%) 1.0 1.1 (15%) Depreciation & amortisation 5.0 4.4 13% 9.7 8.7 12% (Reversal of) Impairment of intangible assets3 (2.5) – N/A 8.0 – N/A Profit/(loss) on equity-accounted investments (1.1) (0.2) 359% (2.9) (0.6) 369% Profit before tax 63.5 16.6 283% 107.8 73.0 48% Tax expense 12.3 3.6 238% 20.3 14.2 43% Net profit 51.3 13.0 295% 87.5 58.8 49% Basic EPS4 (€) 1.18 0.30 293% 2.01 1.36 49% Fully diluted EPS4 (€) 1.16 0.29 294% 1.98 1.33 49% EBITDA margin 47% 29% 47% 41% Revenue by Region €million 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Europe 33.1 33.6 42.6 68.4 48.6 70.2 86.9 79.9 78.7 Americas 9.3 22.0 18.1 41.3 13.4 20.8 18.2 11.4 30.2 Asia 9.0 12.1 13.6 19.9 14.2 23.6 53.8 43.7 35.1 Value Traded Overview €billion 2Q25 2Q24 Change 1H25 1H24 Change Flow Traders ETP Value Traded 492 347 42% 999 755 32% Europe 220 147 49% 465 300 55% Americas 233 177 32% 446 406 10% Asia 39 23 71% 88 50 76% Flow Traders non-ETP Value Traded 1200 1,132 6% 2,418 2,278 6% Flow Traders Value Traded 1,692 1,479 14% 3,417 3,034 13% Equity 918 754 22% 1,928 1,573 23% FICC 680 677 0% 1,305 1369 (5%) Other 94 48 98% 184 92 99% Market ETP Value Traded5 16,509 11,014 50% 30,934 22,993 35% Europe 835 583 43% 1,717 1,178 45% Americas 13,214 9,090 45% 24,278 19,054 27% Asia 2,460 1,341 83% 4,938 2,761 79% Asia ex China 632 444 42% 1,277 883 45% Trading Capital 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 Trading Capital (€m) 574 585 584 609 624 668 775 803 831 Return on Avg Trading Capital1 65% 56% 49% 50% 58% 62% 69% 68% 75% Average VIX7 16.7 15.1 15.4 13.9 14.2 17.1 17.3 18.5 23.6 Market Environment Europe Equity trading volumes in the quarter across major exchanges saw low double-digit percentage point increases when compared to the same period a year ago, but declined slightly compared to the first quarter. Market volatility increased by mid double-digit percentage points when compared to both the same period a year ago and low double-digits compared to the first quarter. However, a substantial portion of the increase in market activity, in terms of both volume and volatility, was seen in the first half of April, with activity returning to more normal levels in May and June. Within Fixed Income, market trading volumes increased compared to the same period a year ago but declined when compared to the first quarter. Americas Equity trading volumes in the U.S. increased by low double-digit percentage points when compared to the same period a year ago, and high single-digits to low double-digits when compared to the first quarter. Market volatility increased by high double-digit percentage points year-on-year and low double-digits quarter-on-quarter. Within Fixed Income, market trading volumes increased slightly when compared to the same period a year ago, but declined slightly when compared to the first quarter. Market volatility was relatively flat both year-on-year and quarter-on-quarter. Asia Equity trading volumes in Asia were mixed as Hong Kong and China saw significant increases when compared to the same period a year ago, but slight declines when compared to the first quarter, while Japan saw slight increases both year-on-year and quarter-on-quarter. Market volatility increased in Hong Kong and China when compared to the same period a year ago and was relatively flat when compared to the first quarter. Japan saw an increase in volatility both year-on-year and quarter-on-quarter. Digital Assets Within Digital Assets, which trades across regions on a 24/7 basis, trading volumes in cryptocurrencies saw a slight increase when compared to the same period a year ago but a meaningful decline when compared to the first quarter. Volatility decreased meaningfully both year-on-year and quarter-on-quarter. Outlook Fixed operating expenses guidance for the year remains unchanged and is expected to be in the range of €190-210m given additional technology investments and targeted additions of subject matter experts in growth areas, partially offset by expected operational efficiency gains. CEO Statement Mike Kuehnel, CEO 'Flow Traders posted another strong set of results in the second quarter, delivering the fourth straight quarter of triple-digit NTI for the first time in the Company's history. In addition, the fifth triple-digit NTI quarter in the last six quarters serves as strong validation of our growth and diversification strategy. The Company was able to deliver solid results through periods of mostly below average market volatility throughout most of 2024 with strong contributions from Digital Assets. We then had strong contributions from Asia in the second half of 2024, and now from Europe and the Americas in the first half of 2025. We continue to reap the rewards of our eight-year investment into Digital Assets as it has proven to be a dependable countercyclical offset to the traditional asset classes. The second quarter saw a sharp increase in volatility in traditional asset classes, particularly in Equity, after nearly two years of relatively muted activity. While the rebound in volumes and volatility we saw in early April was not nearly as extreme and was relatively short-lived when compared to COVID, we were able to leverage the additional profits retained as part of the Trading Capital Expansion Plan. We were able to capture the opportunities that arose and record one of the best months ever in the Company's history. The return of market activity on the back of continued record ETP fund inflows around the world drove improved performance across all regions, particularly in the Americas and Asia. We are especially excited about the significant opportunity in China, where trading volumes have doubled vs. a year ago and is now two-to-three times the volumes seen in Europe. In Digital Assets, trading volumes declined quarter-on-quarter as traditional asset classes garnered more attention given the tariff news headlines. Nevertheless, we continue to see positive sentiment shifts as institutional interests grow amidst a more conducive regulatory environment. The ecosystem around digital assets continues to expand, as evidenced by a raft of digital asset-related IPOs. We are particularly excited about the regulatory approval of AllUnity, our partnership with DWS and Galaxy Digital, which will launch a MiCAR-compliant Euro-denominated stablecoin later this year. As one of the earliest adopters of digital assets, Flow Traders remains instrumental in providing liquidity to this asset class and helping to expand the ecosystem. Looking forward, I am proud of what we have achieved at Flow Traders over my tenure. The Company remains committed to enhancing its trading capabilities by strategically investing in cutting-edge technology and talent. The strong return on trading capital over the last 12 months validates the strategic decision taken last July to retain more profits to reinvest back into the business. I'm certain that the combination of improving and expanding the Company's trading capabilities and growing the trading capital base will undoubtedly accelerate the growth of Flow Traders in the years to come.' Preliminary Financial Calendar 30 October 2025 3Q25 Trading Update Analyst Conference Call and Webcast The 2Q25 trading update analyst conference call will be held at 10:00 am CEST on Thursday 31 July 2025. The presentation can be downloaded at and the conference call can be followed via a listen-only audio webcast. A replay of the conference call will be available on the company website for at least 90 days. Contact Details Flow Traders Ltd. Investors / Media Eric PanPhone: +31 20 7996799 Email: [email protected] About Flow Traders Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading European equity ETPs to expand into fixed income, commodities, digital assets and FX globally. Flow Traders' role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With over two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm's entrepreneurial culture and delivering the company's mission. Notes Return on average trading capital defined as LTM NTI divided by the average of the prior and current end of period trading capital. Revenue by region includes NTI, Other Income, and inter-company revenue. There was a €2.5m reversal in 2Q25 of the €10.5m impairment of intangible assets in 1Q25. Weighted average shares outstanding: 2Q25 – 43,565,347; 1Q25 – 43,394,080; 2Q24 – 43,270,311. Determined by adjusting the basic EPS for the effects of all dilutive share-based payments to employees. Source – Flow Traders analysis. Starting in 3Q24, average VIX is calculated as the average of VIX daily closing prices. Important Legal Information This press release is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this document does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments. The information and materials contained in this press release are provided 'as is' and Flow Traders Ltd. or any of its affiliates ('Flow Traders') do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This press release is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders. This press release may include forward-looking statements, which are based on Flow Traders' current expectations and projections about future events, and are not guarantees of future performance. Forward looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Words such as 'may', 'will', 'would', 'should', 'expect', 'intend', 'estimate', 'anticipate', 'project', 'believe', 'could', 'hope', 'seek', 'plan', 'foresee', 'aim', 'objective', 'potential', 'goal' 'strategy', 'target', 'continue' and similar expressions or their negatives are used to identify these forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of Flow Traders. Such factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward-looking statements. Accordingly, no undue reliance should be placed on any forward-looking statements. Forward-looking statements speak only as at the date at which they are made. Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which such statements are based unless required to do so by applicable law. Financial objectives are internal objectives of Flow Traders to measure its operational performance and should not be read as indicating that Flow Traders is targeting such metrics for any particular fiscal year. Flow Traders' ability to achieve these financial objectives is inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond Flow Traders' control, and upon assumptions with respect to future business decisions that are subject to change. As a result, Flow Traders' actual results may vary from these financial objectives, and those variations may be material. Efficiencies are net, before tax and on a run-rate basis, i.e. taking into account the full-year impact of any measure to be undertaken before the end of the period mentioned. The expected operating efficiencies and cost savings were prepared on the basis of a number of assumptions, projections and estimates, many of which depend on factors that are beyond Flow Traders' control. These assumptions, projections and estimates are inherently subject to significant uncertainties and actual results may differ, perhaps materially, from those projected. Flow Traders cannot provide any assurance that these assumptions are correct and that these projections and estimates will reflect Flow Traders' actual results of operations. By accepting this document you agree to the terms set out above. If you do not agree with the terms set out above please notify [email protected] immediately and delete or destroy this document. All results published in this release are unaudited. Market Abuse Regulation This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
