NYSE Euronext posts $1.34bn Q4 loss
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
NYSE Euronext on Monday reported a Q4 net loss of $1.34bn, missing expectations, as it was hit by costs related to the merger of NYSE and Euronext. Revenues also suffered because of a new rebate scheme for high frequency customers. The exchange group is battling for market share against a host of smaller rivals. For the full year, the group reported a loss of $738m. Its shares fell 5.5% cent to $21.65. Forex variances alsohit net revenues by $55m in the quarter, but positively impacted full year net revenues by $25m. Average daily volume, meanwhile, rose an annual 44% in the quarter, representing the most active quarter ever, with a record 261.7bn shares traded. In Lex’s view, investors’ clear disappointment stemmed from fundamental challenges facing the exchanges group.
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