Along with the announcement of the launch of the Morningstar Eurozone 50 IndexSM and Morningstar Developed Markets Europe 100 IndexSM, Euronext has today released its results for the second quarter of 2017.
Strong quarter, with improved cash and derivatives volumes:
- Revenues up +3.8% compared to Q2 2016, to €137.3 million (Q2 2016: €132.3 million)
- Cash average daily volume up +18.5% compared Q2 2016 and equity derivatives average daily volume up +27.3%
- Strengthened cash equity market share for the quarter at 64.2%
- Changes in competitive landscape for derivatives
- Strong listing activity supported by large secondary market operations
- Continued cost discipline, while progressing the delivery of Optiq® and MiFID II projects, and Agility for Growth initiatives
- EBITDA of €79.2 million (Q2 2016: €77.7 million) and EBITDA margin of 57.7% (Q2 2016: 58.7%)
- Record quarterly performance since IPO translating into a reported EPS of €0.78, up +9.9% compared to Q2 2016
New milestones in the deployment of Agility for Growth initiatives:
- Delivery of Optiq® Market Data Gateway in July providing clients with a 10x reduction in latency
- Further enrichment of the Corporate Service offering to issuers with the acquisition of iBabs, the innovative digital board portal solution
- Launch of the Euronext Block MTF
- €1.6 million of revenues and €1.9 million of costs generated by Agility for Growth initiatives in the quarter
Acquisition of FastMatch, with closing expected within Q3 ‘17
I am proud to report today the strongest quarter since our IPO. The second quarter of 2017 saw volumes return to 2015 levels, driven by increased investor appetite and an improved financial and political outlook for the European Union. Euronext capitalised on this favourable environment and continued to deploy strong cost discipline. We strengthened our core business and delivered significant milestones in our Agility for Growth strategy, shaping the Euronext of tomorrow. Our new Optiq® platform was launched for market data and our diversification of activities continued with the reinforcement of our corporate services offering and the entry into the spot FX market”, said Stéphane Boujnah, Chairman and CEO of the Managing Board of Euronext NV.