CBOE, Bursa Malaysia, CME, BME Lead Upbeat Q3 Exchange Data Revenues with Double-Digit Growth

In Europe, Deutsche Börse’s Market Data + Services segment saw revenues increase by 4 percent to €92.5 million ($116.4 million), primarily driven by a 16 percent increase in revenue from the exchange’s Stoxx index subsidiary to €21.5 million ($27 million) over Q3 last year, along with an increase in the number of data subscribers. Meanwhile, the exchange’s overall Q3 net revenue rose 8 percent year-on-year to €495.9 million ($632.5 million) in Q3, boosted by the performance of its Clearstream clearinghouse and the European Energy Exchange.

Oslo Børs’ market data revenues jumped 6 percent over Q3 last year to NOK (Norwegian Kroner) 2 million ($300,000), primarily driven by an estimated 7 percent increase in the number of professional data users from the same quarter last year. However, the exchange reported total Q3 revenues of NOK 209 million ($31.6 million), down 5 percent from the same period in 2013.

The Warsaw Stock Exchange also reported healthy increases in market data sales, with information services revenues up 8.7 percent over Q3 last year—though down on the past three calendar quarters—to PLN (Polish Zloty) 9.3 million ($2.8 million) as a result of increased subscriber numbers earlier this year followed by a drop-off of one distributor and its subscribers in Q3. The exchange saw total revenues jump 12.9 percent on a yearly basis to PLN 77.9 million ($23.2 million).

Data revenues at Spanish exchange Bolsas y Mercados Españoles spiked 11 percent to just under €9 million ($11.2 million) from €8.1 million ($10.15 million) in Q3 last year, boosted by growth in customers, connections and subscriptions to its market data. As of Sept. 30, direct connections were up 8.8 percent year-on-year. Revenues for the exchange as a whole for the first nine months of the year came in at €249 million ($313.3 million), up 10.2 percent year-on-year.

Nasdaq Sours Upbeat US
In North America, CME Group reported a double-digit increase in market data sales, with Q3 revenues up 11.5 percent to $87.7 million from $78.6 million the previous year. Overall exchange revenues were also upbeat during the quarter, increasing 6.6 percent year-on-year to $762 million due to improved options volume and volume from outside the US.

The Chicago Board Options Exchange’s market data sales also grew, jumping 16.6 percent to almost 7.8 million in Q3, and was cited as a key contributing factor—along with higher transaction fees—to a 9 percent rise in overall operating revenue for the exchange to $148.9 million, up from $136.7 million in Q3 of 2013.

On a less upbeat note, Nasdaq OMX—which operates exchanges in the US and Europe—saw revenues slide, with the exchange’s data segment recording a 7 percent drop to $92 million in the third quarter, due to an $8 million decrease in audit collections and unfavorable impacts of foreign exchange fluctuations, although exchange officials said the drop was partially offset by higher revenues from Nasdaq Basic. The bourse also recorded a drop in total revenues, which during Q3 fell 2 percent year-on-year to $497 million, partly as a consequence of the impact of foreign exchange rates.

In Asia, market data revenues at Bursa Malaysia rose by 18 percent to almost RM (Malaysian ringgit) 7.9 million in Q3 ($2.40 million), up from RM 6.6 million ($2 million) in 2013, partly due to the availability of new information packages and the introduction of market data charges to participant organizations. Total revenues also increased, jumping 7.2 percent over the same period last year to just under RM 129 million ($39.4 million) for the three months ended Sept. 30.