Deutsche Boerse Profit Falls as Trading Slows

Monday, 29 Oct 2012 04:20 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Deutsche Boerse AG, the German exchange blocked from buying NYSE Euronext by European regulators in February, said third-quarter profit fell as trading declined.

Net income fell 50 percent to 159.9 million euros ($206.3 million) compared with 317 million euros in the same period a year earlier, the Frankfurt-based exchange said in a statement Monday. Revenue fell 19 percent to 471 million euros.

Deutsche Boerse is focusing on expanding current operations after regulators vetoed the merger with NYSE Euronext amid concern the combination would hurt competition in derivatives and clearing. The German company agreed to buy its New York-based rival in a deal valued at $9.53 billion when announced in February 2011.

“We are planning a further increase in investments for the next financial year, to further accelerate the development of infrastructure and expansion into new growth areas,” Gregor Pottmeyer, chief financial officer of the exchange, said in the statement. “At the same time we are systematically continuing the strict management of operating costs that began well before the financial crisis.”

Deutsche Boerse shares fell 1.4 percent to 41.15 euros Monday in Frankfurt.

Deutsche Boerse is moving its Eurex derivatives exchange to a new trading system as it develops a standalone strategy. The company completed the acquisition of Eurex, Europe’s largest derivatives exchange, from SIX Group AG in April.

NYSE Euronext is due to report earnings next week.

© Copyright 2014 Bloomberg News. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 

You May Also Like
Around the Web

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved