Exchange Data Revenues Make Positive Start to 2015

The London Stock Exchange’s information services business generated £100 million in revenues in Q4, with its FTSE index business generating £48.2 million of that, compared to £48.3 million in the previous quarter, and up against £44.2 million for FTSE in Q4 2013. Recent acquisition Russell Indexes, which LSE included in its results for the first time, generated £10 million in December. For the financial year, FTSE revenue rose 14 percent, though the LSE’s overall real-time data revenue fell 11 percent in 2014, as a result of lower numbers of UK real-time professional users. Full-year revenue from other information products rose 14 percent to £92 million, driven by strong performance from other information products, such as UnaVista and SEDOL.

Canadian exchange group TMX reported a drop in information service revenue to C$46.9 million, from C$47.6 million in Q4 2013, primarily due to lower revenue recoveries related to under-reported usage of real-time quotes in prior periods—such as Q4 2013, when recoveries totaled C$2.8 million—and lower index licensing revenue. However the decrease in information services revenue was partially offset from new revenue from the acquisition of Strike Technologies’ microwave network business in October.

Euronext saw market data and index revenue grow by 5.4 percent over the previous year to €23 million in Q4, with revenues benefiting from various product launches since the start of 2014. Overall, the exchange posted an 11 percent increase in market data and index revenues to €93.3 million for full-year 2014 compared to 2013, as a result of strong client takeup of its Continental Derivatives data packages, delayed data and a record number of investment products licensed against Euronext indexes. Euronext also secured 120 new vendors distributing 15-minute delayed data, making a total of 375 vendors worldwide.

In Eastern Europe, the Warsaw Stock Exchange reported record revenues and significant increases in operating profit for 2014. Revenue from information services was PLN (Polish zloty) 38.2 million in 2014, an increase of 9 percent year on year. In Q4 2014, the revenue from information services was PLN 9.5 million, an increase of 1.7 percent over Q4 2013, and an increase of 2.8 percent over Q3 2014.

The Moscow Exchange also reported strong growth in revenue and net income overall for 2014. For the full year ending September 2014, “other revenue”—which comprises the sale of data, software and technical services—remained flat at RUB (Russian rubles) 966.9 million, with market data accounting for RUB 436.17 million of that total, up 44.8 percent over 2013.

Deutsche Börse generated net revenue of €544.5 million in Q4 2014, with revenue from market data and services up from €93.6 million in Q4 2013 to €99 million in Q4 2014.

CME Group reported significant growth in every product area during Q4, with revenues for market data and information services up from $76.5 million in Q4 2013 to $89.6 million in Q4 2014. For the financial year, CME Group’s total revenue jumped 22.4 percent year-over-year to $841.1 million.

Fellow Chicago exchange CBOE Holdings also reported record Q4 and 2014 results. Operating revenues increased 17 percent to $166.5 million for Q4 and 8 percent to $617.2 million for the full year—a result of a 23.9 percent increase in transaction fees to $122.7 million, a 10 percent increase in market data fees to $7.7 million, and a 9.1 percent increase in “other revenues” to $3.6 million for the year. These gains were offset by a 5.2 percent decline in access fees to $14.5 million, a 2.1 percent decline in exchange services and other fees to $9.4 million.

The Japan Exchange Group reported third quarter income from information services—which primarily consists of fees for market information provided to data vendors and income related to the index business—increased 0.3 percent year-on-year to ¥12,000 million. Revenues from co-location usage fees and proximity usage fees rose by 12.9 percent to ¥2126 million.