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Bats reports Q4 net income growth of 50 per cent

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Bats Global Markets has reported net income of USD32.5 million and adjusted earnings of USD38.5 million for the fourth quarter ended 31 December 2016.

Net income increased 50 per cent and adjusted earnings rose 35 per cent compared to the same period in 2015, driven primarily by continued growth in non-transaction revenue, realisation of synergies from the Direct Edge acquisition and a lower effective tax rate in the fourth quarter 2016.
For the full year, Bats reported record net revenue of USD436 million, an increase of 13 per cent compared to 2015 and record net income of USD109 million, a 33 per cent increase over 2015.
Diluted earnings per share increased to USD0.34 during the fourth quarter of 2016 from USD0.23 for the same period in 2015, and adjusted earnings†, which excludes tax-adjusted amortisation and other costs, rose to USD0.40 per diluted share from USD0.30.
“The fourth quarter capped off an impressive year for Bats. As we move towards closing the pending transaction with CBOE Holdings in the first quarter, we are excited about the opportunities before us in 2017,” says CEO Chris Concannon (pictured). “Bats and CBOE share a similar mission to make trading more competitive for all market participants and we will leverage our mutual resources to create greater market efficiencies and expanded opportunities for the trading and investing community.”

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