- Revenues up 34% to $20.7 million
- Net earnings up 67% to $6.5 million
- Diluted earnings per share of $0.74 compared to $0.45
- Average daily volume grew 62% to reach 173,735 contracts per day
The Montréal Exchange (MX) today announced its financial results for the second quarter and for the six-month period ended June 30, 2006.
“The MX’s performance for the second quarter was quite simply exceptional,” declared Luc Bertrand, President and CEO of the Montréal Exchange. “The 62% growth in daily volume resulted in record earnings of $6.5 million - a 67% increase over the year-earlier period.”
During the second quarter of 2006, total revenues rose 34% to $20.7 million compared to the $15.5 million posted during the same period in 2005. This increase stems from growth in transaction revenues (up 50% to $9.8 million), clearing revenues (up 47% to $3.5 million), revenues from participants (up 30% to $0.8 million), market data revenues (up 23% to $2.5 million) and revenues from information systems services (up 11% to $4.0 million).
“Furthermore, the MX has pressed ahead with its major growth initiatives,” noted Mr. Bertrand. “SOLATM, the trading system developed by the Montréal Exchange, was deployed on the Boston Options Exchange (BOX) and will support BOX’s growth in the U.S. markets. We also concluded discussions that led to the creation, as announced July 12, 2006, of the Montréal Climate Exchange (MCeX), a joint initiative with the Chicago Climate Exchange®. MCeX is the first organized market in Canada for environment-related financial products, an area of activity that holds immense potential for the development of the Montréal Exchange.”
For the first six monthsFor the first six months ended June 30, 2006, average daily volume stood at 161,115 contracts, a 53% jump from the first six months of 2005.
The MX’s total revenues reached $39.8 million versus $30.1 million, for a 32% increase over the same period in 2005.
Net earnings for the six-month period grew by 41% and reached $11.4 million ($1.32 per share on a diluted basis) as against the $8.1 million ($0.94 per share on a diluted basis) posted during the same period in 2005.
The financial report for the second quarter of 2006 is available on the Montréal Exchange’s web site at www.m-x.ca.
