CME Group’s fourth-quarter profit fell sharply from a year ago, the exchange operator said last night.
The firm’s net income tumbled to $167m (£106m), or 50 cents a share, from $745.9m a year earlier, or $2.25 a share. Revenue fell to $660.9m from $736.5m, it said.
However, stripping out a one-time tax expense of $43.5m and increases in deferred tax liabilities, earnings in the fourth quarter were 63 cents a share, in line with expectations.
Trading in the quarter fell 13 per cent to an average of 10.2m contracts per day. Trading in contracts tied to stock indexes also fell.
City A.M. Reporter