Amsterdam Exchanges N.V.’s total revenues amounted to Eur 103.4 million, 27% higher than in the same period last year. The total number of transactions on Amsterdam Exchanges’ stock market grew by 81% in comparison to the first half of 1999, from 7.2 million transactions to 13 million.
The number of contracts traded on Amsterdam Exchanges’ options market rose by 15% from 23.3 million contracts in the first half of 1999 to 26.7 million contracts in the first half of 2000. As a result, income from clearing and settlement activities also outstripped the levels achieved in the first half of 1999.
Total costs rose by 17% to Eur 69.6 million. In the past few months attention has focussed on preparations for the planned merger of Paris Bourse, Brussels Exchanges and Amsterdam Exchanges. Personnel costs have risen sharply as a result of the merger and market circumstances, but are mainly one-off costs. The automation costs included in other expenses will remain at a high level throughout 2000 in connection with the ongoing development of Switch II, the trade support system for Amsterdam Exchanges’ options market.
The exceptional expenses for the first six months of 2000 concern, among other things, fees for external advisors in connection with the merger, as well as costs relating to the agreements reached with Jewish organisations regarding claims dating from the Second World War.
Amsterdam Exchanges N.V.’s turnover is dependent on the level of activity on its markets and results may of course fluctuate.
If current levels of activity can be sustained throughout the rest of the year, the results for the whole of 2000 are expected to be considerably higher than those achieved in 1999
