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- Revenues of $20.1 million versus $19.9 million
- Net earnings up 17% - adjusted net earnings up 34%
- Adjusted net margin of 39% versus 30%
- Adjusted diluted earnings of $0.26 per share, up 18%
- Strong BOX contribution to Exchange earnings
- Strong financial position - cash of $119 million
Montréal Exchange Inc. (MX) (TSX: MXX) announced yesterday its financial results for the third quarter ended September 30, 2007, including net earnings of $6.9 million, up 17% compared to the same period of 2006, or 34% on an adjusted basis.
Revenues for the third quarter 2007 amounted to $20.1 million compared to revenues of $19.9 million in the same period of 2006. This was due mainly to the 2% increase in the average daily volume to 161,516 contracts. The trading volumes in index derivatives and equity derivatives posted excellent growth of 32% and 26%, respectively. Trading conditions for the short-term interest rate contract, the BAX, have remained difficult, resulting in a 24% decline in activity for this contract, offset in part by a 16% increase in activity on the 10-year government of Canada bond futures contract, the CGB.
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