CME Group Reports Lower Earnings Compared to 2011

By CnAgri2012-10-26 19:26:29 Print

CME Group Inc. reported revenues of $683 million and operating income of $396 million for the third quarter 2012.

"Given the dynamic and changing global environment, we continue to advocate on behalf of our customers, businesses and the futures industry as new regulations are being implemented," said CME Group Executive Chairman and President Terry Duffy. "At the same time, we remain focused on expanding our business to meet the needs of our global customers."

He says during the quarter, the exchange continued to expand its industry-leading portfolio of diverse products as part of growing our global footprint," said CME Group Chief Executive Officer Phupinder Gill.

"We strengthened our OTC product offering by announcing the launch of a deliverable interest rate swap futures product and portfolio margining of interest rate swaps and futures positions for customer accounts."

Third-quarter 2012 average daily volume was 10.8 million contracts, down 26 percent from an exceptionally strong third-quarter 2011 which included the all-time record August 2011 average daily volume of 17.1 million contracts. This drove a 23 percent decrease in clearing and transaction fee revenues to $562 million.

Quarter total average rate per contract was 82.2 cents, up 6 percent compared with third-quarter 2011.

Operating expense was $287 million, below recent quarters and partially driven by the removal of expenses previously associated with the Dow Jones Indices business.