Euronext profits from derivatives growth

Pan-European exchange Euronext reported strong results today for second-quarter 2003, boosted by increased revenues in derivatives trading.

Euronext reported a 87% increase in net profit to €74.5 million for first-half 2003 compared with the corresponding period last year. Revenues for derivatives trading reached €160.1 million in first-half 2003, compared with €142.3 million in first-half 2002.

“Strong revenues were due to the strong performance of interest rate products combined with the relative resilience of the equity options market,” the exchange said.

It added that derivatives activities were also boosted by a technology deal with the Chicago Board of Trade (CBOT). In January, the CBOT entered into a licensing agreement to use Liffe Connect, the derivatives trading system used by pan-European exchange Euronext.Liffe, replacing the existing a/c/e platform licensed from Eurex.

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