Finance Feeds logo

Euronext registers 2.5% drop in spot FX trading revenues in Q2 2019

Maria Nikolova

Spot FX trading generated €5.4 million of revenue in the second quarter of 2019, down 2.5% compared to the corresponding period a year earlier.

Euronext NV (EPA:ENX) has just reported its results for the second quarter of 2019, with revenues from spot FX trading activity marking a drop from the equivalent period a year earlier.

Euronext FX (formerly known as Fastmatch) recorded average daily volumes of $17.5 billion, down 18.5% compared to the second quarter of 2018. Spot FX trading generated €5.4 million of revenue in the second quarter of 2019, down 2.5% compared to the corresponding period a year earlier.

Across all segments, revenue marked a growth of 1.8%, reaching €159 million in the second quarter of 2019. Total revenue contribution of Oslo Børs VPS was €4.5 million, consolidated from June 14, 2019. In May 2019, Euronext launched an unconditional offer at NOK 158 plus a fixed interest payment of NOK 3.21 per share for all issued and outstanding shares in Oslo Børs VPS not already owned by Euronext.

Listing revenue was up 8.6% to €29.7 million driven by the strong performance of Euronext’s Corporate Services, and listing revenue from Oslo Børs VPS contributing €1 million. Cash trading revenue was down 5.9% to €50.7 million. Advanced Data Services revenue, however, increased by 5.2% to €30.9 million, on the back of good performance of indices business.

Custody, Settlement and other post-trade revenue was up 38.8% to €7.7 million mainly due to the post-trade CSD revenue from Oslo Børs VPS contributing €2.1 million.

EBITDA grew 12.0% to €98.1 million in the second quarter of 2019. Net income fell 4.4% to €53.4 million.

Subscribe

Read this next

Digital Assets

Crypto exchange Bittrex exits US market amid regulatory woes

Bittrex said on Friday it plans to wind down operations in the United States and voluntarily liquidate because of the uncertain regulatory environment surrounding their business.

Bittrex
Institutional FX

Tradeweb completes integration of Nasdaq’s US fixed income platform

Tradeweb Markets has completed the technology integration of Nasdaq’s US fixed income electronic trading platform, formerly known as eSpeed, which it acquired two years ago in a $190 million, all-cash transaction.

Tradeweb
Digital Assets

FTX Europe to allow client withdrawals via new website

The Cypriot unit of failed cryptocurrency exchange FTX has launched a new website that it says would allow customers to withdraw deposits of fiat currency and crypto assets after months of suspension.

Sam Bankman-Fried
Retail FX

Liquidators apply to cancel SVS Securities’ FCA license

An update published today by Leonard Curtis said the UK high court of justice has approve their application to bring the special administration of the failed wealth manager SVS Securities to an end.

SVS Securities
Digital Assets

Japan forms government panel to pilot digital yen

Japan’s Finance Ministry has created an advisory panel to look at the feasibility of issuing a central bank digital currency, otherwise known as “CBDC”.

Digital Assets

USDC sees massive $10.4 billion outflows in March

Cryptocurrency traders have withdrawn more than $10 billion from the world’s second largest stablecoin, USDC, in less than three weeks even as concerns over the fallout from the Silicon Valley collapse have receded.

Interviews

OSTTRA’s Joanna Davies goes beyond 30-30-30 data standard at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Joanna Davies about OSTTRA.

Interviews

CloudMargin’s Stuart Connolly on how to manage collateral amid high rates at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Stuart Connolly about CloudMargin’s SaaS platform, said to be the only cloud-native collateral and margin management system in the industry, at a time of stress due to rising interest rates.

Interviews

Baton Systems’ Alex Knight on solving post-trade with DLT at FIA Boca 2023

FinanceFeeds Editor-in-Chief Nikolai Isayev spoke with Alex Knight about Baton Systems’ about rising settlement fails, collateral management, and the profile of DLT beyond cryptocurrencies.

<
✖