TMX Group is back in the green
TMX
Group has returned to profitability in the second quarter with an
attributable to shareholders of $ 25.5 million in net income, or 47
cents per share, compared to a loss of $ 28.4 million, or $ 33.99 per
share last year.
Its revenues totaled $ 182.3 million, an increase of 6% compared to the first quarter. This increase reflects, according to Michael Ptasznik, Chief Financial Officer of TMX Group, the increase in revenue from initial and additional listing fees, the positive contribution of the acquired business with Equity Financial and progression revenues from trading and clearing of derivatives.
"In a context where a general slowdown of the Canadian capital markets has marked our trading activities, we still benefited from the diversity of our portfolio since the revenue generated by the Montreal Exchange and CDCC increased again so sequential, "says Thomas Kloet, CEO of TMX Group, in a statement.
The results of TMX Group were however affected by lower revenues following the sale of its former division, PC-Bond, which is a charge of 22 cents per share on earnings of the company.
During the second quarter, TMX Group also continued the integration of CDS and Alpha Group Group. Meanwhile, the TMX Group completed the acquisition of the transfer agent and corporate trust services Equity Financial in addition to forming a new company called TMX FTSE Global Debt Capital Markets Limited in which it holds a 25 %.
These findings are timely as the title of TMX Group fell 11% so far in 2013, according to Bloomberg agency. Of the six North American markets, a group that includes the NYSE Euronext and Nasdaq OMX Group, the title of the TMX Group is the only one to have experienced a decline this year. The first class in this area is the Chicago Board Options Exchange (CBOE), which recorded a 70% gain over the same period.
Its revenues totaled $ 182.3 million, an increase of 6% compared to the first quarter. This increase reflects, according to Michael Ptasznik, Chief Financial Officer of TMX Group, the increase in revenue from initial and additional listing fees, the positive contribution of the acquired business with Equity Financial and progression revenues from trading and clearing of derivatives.
"In a context where a general slowdown of the Canadian capital markets has marked our trading activities, we still benefited from the diversity of our portfolio since the revenue generated by the Montreal Exchange and CDCC increased again so sequential, "says Thomas Kloet, CEO of TMX Group, in a statement.
The results of TMX Group were however affected by lower revenues following the sale of its former division, PC-Bond, which is a charge of 22 cents per share on earnings of the company.
During the second quarter, TMX Group also continued the integration of CDS and Alpha Group Group. Meanwhile, the TMX Group completed the acquisition of the transfer agent and corporate trust services Equity Financial in addition to forming a new company called TMX FTSE Global Debt Capital Markets Limited in which it holds a 25 %.
These findings are timely as the title of TMX Group fell 11% so far in 2013, according to Bloomberg agency. Of the six North American markets, a group that includes the NYSE Euronext and Nasdaq OMX Group, the title of the TMX Group is the only one to have experienced a decline this year. The first class in this area is the Chicago Board Options Exchange (CBOE), which recorded a 70% gain over the same period.
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