Euronext registers 30% Y/Y rise in FX trading revenue in Q3 2022
Euronext, the leading pan-European market infrastructure, today published its results for the third quarter of 2022.
FX trading reported revenue at €7.3 million in the third quarter of 2022, up 30.1% from the equivalent quarter in 2021. Euronext FX trading volumes and revenue benefited from the continued positive momentum with heightened volatility, geographic expansion and product diversification.
On a like-for-like basis at constant currencies, FX trading revenue was up +11.2% in Q3 2022 compared to Q3 2021.
Derivatives trading revenue increased by +3.3% to €14.0 million in Q3 2022 as a result of the strong traction of index derivatives and commodity derivatives trading, combined with enhanced revenue capture, offsetting weaker volumes in equity derivatives trading.
Investor Services reported €2.5 million revenue in Q3 2022, representing a +16.3% increase compared to a very strong Q3 2021, resulting from continued commercial expansion partially offset by a reduction of scope.
On a like-for-like basis at constant currencies, Investor Services revenue was up +12.2% compared to Q3 2021.
Advanced Data Services revenue was €53.0 million in Q3 2022, up +6.3% from Q3 2021, driven by the strong traction of the core data business, solid index activities and good momentum of the advanced data solutions franchise.
In Q3 2022, Euronext consolidated revenue and income amounted to €301.4 million, down 14.0% compared to Q3 2021, mainly due to the €49.0 million non-underlying, one-off pre-tax loss (€35 million post-tax) related to the partial disposal of the Euronext Clearing portfolio, partially offset by the robust performance of non-volume related activities and the good performance of derivatives, FX and power trading activities.
Underlying revenue and income, excluding the non-underlying, one-off, loss related to the partial disposal of the Euronext Clearing portfolio, was slightly down 0.8% in Q3 2022, to €350.3 million. On a like-for-like basis and at constant currencies, Euronext consolidated revenue and income was down 0.8% in Q3 2022, to €349.4 million, compared to Q3 2021.
The reported net income, share of the parent company shareholders, decreased by 34.5% for Q3 2022 compared to Q3 2021, to €75.8 million, including the one-off loss due to the partial disposal of the Euronext Clearing portfolio. This represents a reported EPS of €0.71 basic and €0.71 fully diluted in Q3 2022, compared to €1.08 basic and €1.08 fully diluted in Q3 2021.