NYSE Group Inc. today reported net income of US$68 million for the three months ended September 30, a 209% increase compared to US$22 million for the same quarter last year.
Revenue rose to US$602.9 million, a 33% increase from US$452.4 million a year ago.
Third quarter 2006 results include the full quarter results from the operations of NYSE Arca Inc. Fiscal 2005 results include only the operations of NYSE Inc., the predecessor of NYSE Group.
Included in the third quarter results are US$7.7 million in merger expenses consisting of lease termination, severance and related exit costs (US$5.1 million), and other professional fees incurred in connection with both the integration of the Archipelago businesses and the contemplated merger with Euronext NV (US$2.6 million). Also included in the third quarter results is a US$7.2 million gain for a one-time payment received from the National Securities Clearing Cor[. and Fixed Income Clearing Corp. in connection with the previously announced phase out of their service agreement with SIAC, a subsidiary of NYSE Group.
“NYSE Group’s financial results reflect our continued focus on expanding our operating margins, and delivering sustained revenue and overall business growth,” said Nelson Chai, NYSE Group executive vp and CFO, in a news release. “We remain focused on reducing costs, increasing efficiencies and driving towards the completion of the merger with Euronext. These directives are clearly reflected in our quarterly financial results and business highlights.”
“This quarter’s introduction of NYSE Arca Options coupled with our double-digit growth in trading volumes in all product areas, strategic pricing initiatives and comprehensive order execution platforms, such as the recently-implemented Hybrid MarketSM, ensure that NYSE Group is well positioned to maintain its standing as a leading global market and a significant competitive force in the marketplace,” he added.
NYSE profit up sharply
Strong revenue and overall business growth in Q3
- By: James Langton
- October 26, 2006 October 26, 2006
- 09:50