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New York Stock Exchange member firms that conduct business with the public reported first-quarter 2006 after-tax profits of $3.08 billion and revenues of $77.56 billion, compared to $1.70 billion in after-tax profits on revenues of $49.22 billion in the first quarter of 2005.
For the first quarter of 2006, NYSE specialists reported after-tax profit of $212 million. During the same period last year, the specialists reported an after-tax profit of $43 million. Total specialist revenue in the first quarter of 2006 was $577 million, compared to $228 million in the first quarter of 2005. The increased revenue and after-tax profit in the first quarter of 2006 results primarily from gains recorded in connection with the consummation of the merger between NYSE and Archipelago Holdings, Inc, on March 7, 2006, in which the specialists exchanged their NYSE memberships for shares of NYSE Group, Inc. common stock and cash. Comparative financial results are charted below:
NYSE Member Firms Dealing with the Public
($ in millions)
|
1st Qtr. |
1st Qtr. |
4th Qtr. |
|
|
Revenues |
$77,563* |
$49,221 |
$66,147 |
|
Expenses |
$72,829* |
$46,606 |
$63,850 |
|
After-Tax Profit/(Loss) |
$3,078 |
$1,700 |
$1,493 |
|
After-Tax Annualized Return on Capital |
6.3% |
4.0% |
3.2% |
|
Assets |
$4,504,236* |
$4,036,635 |
$4,211,634 |
|
Capital & Subordinations |
$199,194* |
$177,505 |
$189,586 |
|
Commission Revenues |
$7,164 |
$6,475 |
$6,571 |
|
Number of Firms Reporting |
216 |
227 |
217 |
|
Number of Profitable Firms |
170 |
148 |
134 |
|
Aggregate Pre-Tax Earnings of Profitable Firms |
$5,702 |
$3,391 |
$3,979 |
|
Number of Unprofitable Firms |
46 |
79 |
83 |
|
Aggregate Pre-Tax Loss of Unprofitable Firms |
($968) |
($776) |
($1,682) |
* Record level
NYSE Specialists
|
|
1st Qtr. |
1st Qtr. |
4th Qtr. |
|
Revenues |
$577 |
$228 |
$241 |
|
Expenses |
$196 |
$149 |
$159 |
|
After-Tax Profit/(Loss) |
$212 |
$43 |
$47 |
|
After-Tax Annualized Return on Capital |
19.9% |
4.1% |
4.2% |
Note: For member firms dealing with the public, the figures collected by NYSE Regulation include 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. The category of member firms dealing with the public generally excludes specialists, but includes firms that primarily trade for their own account, rather than doing a public business.
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)
