IntercontinentalExchange Group, Inc. (NYSE: ICE), the leading global network of exchanges and clearing houses, announced a definitive agreement to acquire Singapore Mercantile Exchange (SMX) in an all-cash transaction. The acquisition will add to ICE's current network of markets and clearing houses in the U.S., Canada, Brazil, the U.K. and continental Europe.
KEY 3Q13 OPERATING AND FINANCIAL HIGHLIGHTS
- Total trading volume across all markets up 25.3% YoY to RUB 123.9 trn.
- Total operating income rose 11.2% YoY to RUB 6.28 bln.
- EBITDA climbed 8.7% YoY to RUB 3.99 bln; EBITDA margin 64.0% versus 65.0% in 3Q12.
- Net profit increased 29.8% YoY to RUB 2.85 bln; earnings per share (EPS) increased 24% YoY to RUB 1.29.
Multi Commodity Exchange of India Limited (MCX), India’s top commodity bourse, and the People’s Republic of China-based Dalian Commodity Exchange (DCE), have signed a Memorandum of Understanding (MoU) to boost strategic co-operation.
- Good overall financial performance with headline revenue growth across all of the Group’s main business areas
- Revenue up 44 per cent to £504.2 million (H1 FY 2013: £349.8 million), including five months’ contribution from LCH.Clearnet; revenue up 8 per cent on organic and constant currency basis
- Total income (excluding unrealised gains/losses at LCH.Clearnet) up 34 per cent at £567.1 million (H1 FY 2013: £423.7 million); down 4 per cent on organic and constant currency basis
- Underlying operating expenses kept broadly flat, reflecting continued good cost control
- Adjusted operating profit1 up 6 per cent at £229.9 million (H1 FY 2013: £217.2 million); down 13 per cent on organic and constant currency basis; operating profit of £151.0 million (H1 FY 2013: £186.8 million)
- Adjusted basic EPS1 of 48.2 pence (H1 FY 2013: 51.8 pence); basic EPS of 24.9 pence (H1 FY 2013: 43.0 pence)
- Interim dividend up 4 per cent to 10.1 pence per share (H1 FY 2013: 9.7 pence per share)
- Acquisition of majority stake in LCH.Clearnet completed in May 2013, with major project programmes now live to deliver operational efficiencies, synergies and other benefits; new LCH.Clearnet Group CEO appointed
- SwapClear discussions are ongoing to ensure EMIR compliance
- Numerous new products, services and projects live in the period, including: a CSD in Luxembourg; MTS swaps service; a London-based derivatives market; the launch of FTSE Super Liquid contracts; new FTSE
Singapore Exchange (SGX) is pleased to introduce three new Asian Index Futures to provide investors wider access to almost all of Asia’s key capital and growth markets. The new contracts, namely the SGX-PSE MSCI Philippines Index Futures, SGX MSCI Thailand Index Futures and SGX MSCI India Index Futures, complement SGX’s extensive suite of equity derivatives offerings. In addition, it provides global investors deeper and more extensive reach into Asia's emerging markets. The three new contracts will commence trading from 25 November 2013.
Bursa Malaysia Derivatives Berhad (Bursa Malaysia Derivatives) extended their eight-year collaboration for another three years. Both Bursa Malaysia Derivatives and Dalian Commodity Exchange (DCE) formalised their mutual commitment to the promotion and progress of futures markets for oil and oilseeds globally, through the organisation of the annual China International Oils & Oilseeds Conference (CIOC).
IntercontinentalExchange Group, Inc. (NYSE: ICE), the leading global network of exchanges and clearing houses, announced the successful completion of its previously announced acquisition of NYSE Euronext (NYSE: NYX). The stock-and-cash transaction has a total value of approximately $11 billion. The combination creates the premier operator of global exchanges diversified across a range of asset classes spanning interest rates, equities and equity derivatives, credit derivatives, bonds, foreign exchange, energy, metals and agricultural commodities.
CBOE Holdings, Inc. (NASDAQ: CBOE) announced it will launch futures and options on the CBOE Russell 2000® Volatility Index in coming weeks. CBOE Futures Exchange (CFE) will begin trading the futures (ticker: VU) on Monday, November 18, and Chicago Board Options Exchange (CBOE) plans to introduce trading in the options (ticker: RVX) on Monday, December 2.
Main highlights for 3Q13 results
Total revenue increased 2.7% over the previous year third quarter, reflecting growth in revenue from the derivatives market and from other revenues not related to volumes traded.
In the BM&F segment, the average rate per contract (RPC) grew 10.6% year-over-year, reflecting changes in the mix of contracts traded and higher prices of contracts connected to the FX rate.
In the Bovespa segment, the average value traded (ADTV) was roughly flat, despite the challenging environment. The decrease of 2.2% in the average market capitalization was offset by an increase of the turnover velocity, which reached 73.7%.
HFT volumes increased 32.8% in the Bovespa Segment and 19.6% in the BM&F segment compared to 3Q12.
Real Estate Investment Funds (FIIs or Fundos de Investimento Imobiliários) ADTV reached R$23.1 million, up 85.1% year-over-year.
The average financial value of open interest positions in Securities Lending posted an increase of 26.0% year-over-year.
The financial value of LCAs registered reached R$73.8 billion in Sep/13, 190.6% growth compared to Sep/12.
R$225.3 million in dividends in 3Q13, totaling 80% of 3Q13 GAAP net income.
- Revenue of $165.3 million in Q3/13, down 9% compared with Q2/13, reflecting market conditions and seasonality
- Operating expenses of $106.4 million in Q3/13, down 7% compared with Q2/13, partially due to exceeding our synergy target
- Diluted earnings per share of 35 cents in Q3/13
- Adjusted diluted earnings per share of 75 cents in Q3/13, down 16% compared with Q2/13
- Adjusted diluted earnings per share of 75 cents excludes:
- 22 cents per share charge related to credit facility refinancing expenses
- 4 cents per share charge related to Maple transaction and integration costs
- 14 cents per share of amortization of intangibles related to acquisitions
- Expected Q4/13 interest savings of about $3.5 million before tax following Q3/13 refinancing transactions.