Profits in the European division of Getco, the US-based high-frequency trading firm, fell for a second successive year in a sign of the challenges facing the group in difficult trading conditions.

Getco Europe reported post-tax profits of $49.3m for the year to December 31 2010, a 6% fall on the previous period, according to accounts filed with Companies House at the end of last month. Its trading revenues fell 5% to $219m.