| 4th quarter | Full Year | % change 2001 // 2000 | |||
| € millions | 2001 | 2000* (pro forma) | 2001 | 2000* (pro forma) | |
| Cash trading | 49.3 | 50.7 | 177.4 | 188.8 | -6.0% |
| Listing fees | 13.7 | 14.5 | 49.7 | 59.7 | -16.8% |
| Derivatives trading | 17.8 | 17.9 | 84.3 | 82.3 | +2.5%% |
| Clearing | 43.8 | 41.4 | 172.8 | 169.0 | +2.2% |
| Settlement and custody | 9.6 | 6.3 | 33.3 | 31.6 | +5.3% |
| Information services | 13.7 | 19.4 | 64.3 | 68.7 | -6.4% |
| Sales of software/solutions | 30.6 | 20.9 | 101.6 | 76.8 | +32.4% |
| Other revenues | -3.1 | -2.1 | 14.6 | 15.4 | -5.0% |
| TOTAL | 175.3 | 169.0 | 697.9 | 692.4 | +0.8% |
BUSINESS ANALYSIS
Cash trading. The total number of trades in 2001 was 9.3% lower than in 2000. Owing to our fee structure revenues fell only by 6%
Listing fees. Due to the worldwide economic slowdown the number of IPOs and secondary operations has decreased; nevertheless we achieved revenues of 49.7 Mio Euros, a decrease of only 10 Mio Euros compared with the record year of 2000.
Derivatives trading. The events of September 11 combined with the economic uncertainties led to highly volatile financial markets. Volumes increased by 22 % and revenues rose by 2.5%.
Clearing. Revenues increased by 2.2 % to 172.8 Mio Euros. The decrease in cash trading volumes was more than offset by the volume increase in derivatives and the increase of the value per trade on the French cash market, thus enabling us to show a good growth figure despite the difficult market environment.
Settlement and custody. Settlement and custody revenues increased by 5.3 % to amount to 33.3 Mio Euros, showing also excellent resilience.
Information services. Cote Bleue was sold for 60% as at October 2001. Revenues of Cote Bleue are only consolidated till the end of September. This causes a minus of 1,5 Mio EURO in the revenues. Revenues from sales of market data amounted to 64.3 Mio Euros, a slight decrease of 6.4 % compared to the same period a year ago. This decrease of 4.4 Mio Euros is due to the harmonisation of our fee structure and the centralisation of the datafeeds, resulting in a cost reduction for our clients.
Sales of developed software/solutions. GL Trade's revenues grew from 69.7 Mio Euro to 101.6 Mio Euros, due to excellent international expansion. 2000 revenues included 7.1 Mio Euros contribution from Euronext SCRL which have since been sold to Atos Euronext.
Other Revenues: In accordance with IAS segmentation principles, revenues in respect to previous years, which had been reported as other income in Q3, have been reclassified to the relevant categories of primary revenues. The resulting decrease (3.1 Mio Euros) in other income is balanced by an equal increase of primary revenues
