For first-quarter 2005, NYSE specialists reported after-tax profits of $43 million. During the same period last year, specialists reported $11 million in after-tax losses. Total specialist revenue in first-quarter 2005 was $228 million, compared to $252 million in first-quarter 2004.
Comparative financial results are charted below:
Member Firms Dealing with the Public
($ in millions)
| 1st Qtr. 2005 | 1st Qtr. 2004 | 4th Qtr. 2004 | |
| Revenues | $49,221 | $39,428 | $46,999 |
| Expenses | 46,606 | 34,349 | 42,291 |
| After-Tax Profit/Loss | 1,700 | 3,301 | 3,036 |
| After-Tax Annualized Return on Capital & Subordinations |
4.0% | 8.3% | 7.1% |
| Assets | 4,036,635* | 3,413,461 | 3,841,156 |
| Capital & Subordinations | 177,505* | 162,337 | 173,580 |
| Commission Revenues | 6,475 | 7,622 | 6,740 |
| Number of Firms Reporting | 227 | 236 | 229 |
| Number of Profitable Firms | 148 | 189 | 156 |
| Aggregate Pre-Tax Earnings of Profitable Firms |
3,391 | 5,319 | 5,274 |
| Number of Unprofitable Firms | 79 | 47 | 73 |
| Aggregate Pre-Tax Loss of Unprofitable Firms |
(776) | (240) | (566) |
NYSE Specialists
($ in millions)
| 1st Qtr. 2005 | 1st Qtr. 2004 | 4th Qtr. 2004 | |
| Revenues | $228 | $252 | $236 |
| Expenses | 149 | 265 | 286 |
| After-Tax Profit/Loss | 43 | (11) | (41) |
| After-Tax Annualized Return on Capital |
4.1% | -1.0% | -4.0% |
* Record level
Note: For member firms dealing with the public, the data collected by the NYSE includes revenue from all sources, including trading, interest and commission income. Since the NYSE member firm community is made up of corporations and partnerships, after-tax earnings are presented on a pro-forma basis assuming a regular corporate tax rate or credit of 35 percent.
NYSE Member Firms Dealing with Public (Financial Summary) (pdf format)
Statement of Income (Loss) and Expense Unconsolidated (pdf format)
Statement of Financial Condition (pdf format)
