Euronext NV today reported that in the first quarter it managed record operating income of 144.6 million euros, up 31.7%.

The exchange said that its revenues increased by 15.6% versus the first quarter of 2006 to 310.1 million euros. “The business environment has been particularly favourable this quarter, with the highest level of activity ever, on both Euronext’s cash and derivatives markets,” the operator of the Euronet exchange explained.

Record operating income reflected a record operating margin of 46.6%, despite corporate deal costs (7.2 million euros during the quarter) that led to a 4.5% increase in the costs base (amounting to 165.5 million euros compared to 158.4 million euros last year).

On a reported basis, Euronext’s pretax profit for the first quarter of 2007 was 149.3 million euros, up from 142.5 million euros in the first quarter of 2006. The growth in profit before tax was only 4.8% due to the accounting impact of various one-time events. Reported net profit for the first quarter was 99.4 million euros versus 104.0 million euros in the first quarter of 2006.

Euronext N.V., a subsidiary of NYSE Euronext, is the largest central order book cash market in Europe and the second largest derivatives exchange in the world, by value of business traded.