Euronext has reported strong revenue growth in the third quarter of 2017, with an increase of 14.1 per cent over Q3 2016 to EUR128.7 million, mainly due to improvement of volumes in a stabilised macro environment.
Cash average daily volume (ADV) was up 9.5 per cent in Q3 2017 compared to Q3 2016, to EUR6.9 billion, while market share of cash equities strengthened to 65.2 per cent, with robust yield. In addition, an improved competitive landscape for Dutch derivatives has seen equity derivatives ADV increase 20.8 per cent.
Euronext saw strong listing activity over the quarter, with increases in IPO (+68.6 per cent) and follow-on (+38.2 per cent) revenue,
Stéphane Boujnah (pictured), CEO and Chairman of the Managing Board of Euronext NV, says:
“Euronext’s results for the third quarter of 2017 were driven by the improvement of volume in a stabilised macro environment and by the first contributions of our new acquisitions. We ensured a +13.3 per cent growth in EBITDA this quarter, while we pursued major projects such as MiFID II and Optiq®. This quarter was marked by the deployment of our Agility for Growth strategic plan, through the acquisition of iBabs in July, and by the closing of the acquisition of FastMatch in August. Another major milestone was met in August when we secured the renewal of a 10-year agreement for derivatives clearing with LCH SA, as well as a 11.1 per cent stake and a pre-emption right in this company, ensuring a long-term and improved value proposition for our customers and investors.”
