The
European New Exchange Technology (Euronext), a Pan-European exchange, returned
a flat revenue from its spot forex marketplaces at the end of the third quarter
of 2022.
The
exchange’s revenue from the market came in at €7.3 million, the same result posted at the end of the second quarter
of the year. However, compared to the same period from last year, the revenue represents a 30.1% jump.
Euronext,
which operates regulated markets in Belgium, France, and Italy, among other
countries, disclosed these numbers in its Q3 2022 results shared with Finance
Magnates on Thursday.
The exchange’s carried-over revenue comes as Euronext FX’s total spot trading
volumes dropped -7% in Q3 2022 but improved by 24.2% when compared to Q3 2021. Volume
during the recent quarter, the spot forex volume came in at $1.44 trillion.
Additionally, the average daily volume of the market also slumped -8% to $21.74
billion at the end of the third quarter.
“Euronext
FX trading volumes and revenue benefited from the continued positive momentum
with heightened volatility, geographic expansion and product diversification,”
Euronext said.
“Over
the third quarter of 2022, average daily volumes of USD 21.7 billion were
recorded, up +24.2% compared to Q3 2021. On a like-for-like basis at constant
currencies, FX trading revenue was up +11.2% in Q3 2022 compared to Q3 2021,”
the Pan-European exchange added.
Broader
Market View
Meanwhile,
Euronext’s trading revenues from its cash, derivatives, fixed income, and power
trading marketplaces (spot forex market included) dropped -9% to €117.8 billion in Q3 2022. Similarly,
when compared to the same quarter in 2021, the total revenue from these
marketplaces dropped -5.2%. The figure came in at €124.2 billion in Q3
2021.
Our Q3 results demonstrated the robustness of our business model
We are happy to report strong adjusted EBITDA and adjusted net income and to have confirmed our leading position in equity listing in Europe and as the main trading venue in Europe
Report: https://t.co/VllTOpAy8E pic.twitter.com/I1rE4rm6mZ— Euronext (@euronext) November 3, 2022
“This
third quarter of 2022 demonstrated the robustness of Euronext’s diversified
business model in a more challenging trading environment. We recorded strong
growth in our non-volume related activities, as well as good performance of
derivatives, FX and power trading activities,” Stéphane Boujnah, Chief
Executive Officer and Chairman of the Managing Board of Euronext, noted.
The
European New Exchange Technology (Euronext), a Pan-European exchange, returned
a flat revenue from its spot forex marketplaces at the end of the third quarter
of 2022.
The
exchange’s revenue from the market came in at €7.3 million, the same result posted at the end of the second quarter
of the year. However, compared to the same period from last year, the revenue represents a 30.1% jump.
Euronext,
which operates regulated markets in Belgium, France, and Italy, among other
countries, disclosed these numbers in its Q3 2022 results shared with Finance
Magnates on Thursday.
The exchange’s carried-over revenue comes as Euronext FX’s total spot trading
volumes dropped -7% in Q3 2022 but improved by 24.2% when compared to Q3 2021. Volume
during the recent quarter, the spot forex volume came in at $1.44 trillion.
Additionally, the average daily volume of the market also slumped -8% to $21.74
billion at the end of the third quarter.
“Euronext
FX trading volumes and revenue benefited from the continued positive momentum
with heightened volatility, geographic expansion and product diversification,”
Euronext said.
“Over
the third quarter of 2022, average daily volumes of USD 21.7 billion were
recorded, up +24.2% compared to Q3 2021. On a like-for-like basis at constant
currencies, FX trading revenue was up +11.2% in Q3 2022 compared to Q3 2021,”
the Pan-European exchange added.
Broader
Market View
Meanwhile,
Euronext’s trading revenues from its cash, derivatives, fixed income, and power
trading marketplaces (spot forex market included) dropped -9% to €117.8 billion in Q3 2022. Similarly,
when compared to the same quarter in 2021, the total revenue from these
marketplaces dropped -5.2%. The figure came in at €124.2 billion in Q3
2021.
Our Q3 results demonstrated the robustness of our business model
We are happy to report strong adjusted EBITDA and adjusted net income and to have confirmed our leading position in equity listing in Europe and as the main trading venue in Europe
Report: https://t.co/VllTOpAy8E pic.twitter.com/I1rE4rm6mZ— Euronext (@euronext) November 3, 2022
“This
third quarter of 2022 demonstrated the robustness of Euronext’s diversified
business model in a more challenging trading environment. We recorded strong
growth in our non-volume related activities, as well as good performance of
derivatives, FX and power trading activities,” Stéphane Boujnah, Chief
Executive Officer and Chairman of the Managing Board of Euronext, noted.
