The NASDAQ OMX Group, Inc.
23.10.2013 13:00
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-- Third quarter 2013 net revenues1 were a record $506 million, up 23% from
the prior year quarter. On an organic basis, assuming constant currency and
excluding acquisitions, net revenues increased 4% year-over-year.
-- Third quarter 2013 GAAP and non-GAAP diluted EPS of $0.66.
-- Achieved organic revenue growth year-over-year in all three non-trading
business segments, Information Services, Technology Solutions, and Listing
Services.
-- Non-transaction based revenues were 73% of our total third quarter 2013 net
revenues, and increased 27% from the prior year quarter.
-- Third quarter 2013 is the first full quarter to reflect the acquired eSpeed
and Thomson Reuters IR, PR, and Multimedia businesses, establishing new
revenue and operating profit base-lines.
-- De-leveraging plan is on schedule, NASDAQ OMX paid down $98 million of debt
in the third quarter of 2013.
NEW YORK, Oct. 23, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc.
(Nasdaq:NDAQ) today reported results for the third quarter of 2013. Third
quarter net revenues were $506 million, up from $412 million in the prior year
period, driven by both acquisitions and organic growth in Technology Solutions,
Information Services, and Listing Services. On an organic basis third quarter
net revenues increased 4% year-over-year.
'This quarter is a great illustration of our strategy and the transformation of
the fundamental business and revenue profile of NASDAQ OMX,' said Bob Greifeld,
CEO, NASDAQ OMX. 'We now feature a Technology Solutions segment composed of
dominant industry leaders, with over $500 million of annualized revenue in the
third quarter, and a Market Services segment which now sees two thirds of its
transaction revenue coming from derivative and fixed income categories, each
with strong secular growth opportunities. The industry leadership, unique
product and service offering, and earnings potential create a compelling
franchise for investors and an unmatched partner for our customers.'
Mr. Greifeld continued, 'Today, businesses comprising 97% of our company's
revenues feature either #1 or #2 revenue rankings in their respective
industries. Our customers have put us in strong competitive positions through
the value they place on our technology, systems, products and services. Our
acquisitions of eSpeed and the IR, PR, and Multimedia businesses of Thomson
Reuters are ahead of plan and are accretive to earnings, and although we have
more to do to ensure they realize their full potential, our confidence has
never been stronger in our ability to continue to service the market, deliver
for our customers, and create returns for our shareholders.'
Operating expenses were $304 million in the third quarter of 2013, compared to
$242 million in the prior year quarter. On a non-GAAP basis, third quarter 2013
operating expenses were also $304 million, up 32% as compared to the prior year
quarter, primarily due to the inclusion of expenses associated with the
acquisitions of Thomson Reuters' IR, PR and Multimedia businesses and the
eSpeed electronic fixed income platform. On an organic basis (constant currency
and excluding acquisitions), third quarter non-GAAP operating expenses were up
7%, representing a 6% increase in core expenses and a 1% impact from higher
GIFT spending. Through the first nine months of 2013, non-GAAP operating
expenses were up 2% on an organic basis.
Third quarter 2013 non-GAAP diluted earnings per share were $0.66, versus $0.62
in the prior year quarter. Non-GAAP diluted earnings per share in the third
quarter of 2013 excludes $8 million of pre-tax merger-related expenses, which
were offset by an $8 million pre-tax gain related to a reduction of a
contingent liability related to an acquisition, as well as an increase in net
deferred tax liabilities due to changes in tax rates in various jurisdictions.
Non-GAAP diluted earnings per share in the third quarter of 2012 excludes $25
million of net pre-tax charges primarily relating to restructuring charges, a
loss on a business divestiture, special legal expenses, as well as a $1 million
tax adjustment.
On a GAAP basis, net income attributable to NASDAQ OMX for the third quarter of
2013 was $113 million, or $0.66 per diluted share, compared with $89 million,
or $0.52 per diluted share, in the prior year quarter.
'We are pleased with the balance and stability of our revenue model as well as
our continued strong performance in challenging cycles,' said Lee Shavel, EVP
and CFO, NASDAQ OMX. 'At the same time, our expense discipline has led to very
modest organic cost growth thus far in 2013, and we are narrowing our full-year
expense guidance towards the low end of our previous projections.'
Mr. Shavel continued, 'On the capital front, the company paid down $98 million
of debt during the quarter, and remains on track to return to our longer-term
leverage target in the mid-2x gross debt to EBITDA range by the end of the
second quarter of 2014, at which point we will again enjoy the full flexibility
to consider all capital return/deployment options.'
At September 30, 2013, the company had cash and cash equivalents of $300
million and total debt of $2,718 million, resulting in net debt of $2,418
million. This compares to net debt of $1,479 million at December 31, 2012.
1 Represents revenues less transaction rebates, brokerage, clearance and
exchange fees.
BUSINESS HIGHLIGHTS
Market Services (40% of total net revenues) - Net revenues were $200 million in
the third quarter of 2013, up $15 million when compared to $185 million in the
third quarter of 2012.
Derivatives (14% of total net revenues) - Total net derivative trading and
clearing revenues were $71 million in the third quarter of 2013, down $1
million compared to the third quarter of 2012. Net U.S. derivative trading and
clearing revenues declined $2 million year-over-year due to modestly-lower
industry volumes and market share. European derivative trading and clearing
revenues increased $1 million, primarily due to revenues associated with the
clearing operations.
Cash Equities (9% of total net revenues) - Total net cash equity trading
revenues were $46 million in the third quarter of 2013, down $1 million
compared to the third quarter of 2012. Lower net U.S. equities revenues,
primarily due to lower market share, were partially offset by higher European
equities revenue, driven primarily by higher volumes.
Fixed Income (4% of total net revenues) - Total net fixed income trading
revenues associated with eSpeed were $18 million, roughly in line with
prior-year levels. Higher industry-wide volumes for electronically-traded,
on-the-run U.S. Treasury securities were offset by somewhat lower market share
compared to the prior period, a function of market share changes prior to
NASDAQ OMX's ownership of the business.
Access and Broker Services (13% of total net revenues) - Access and broker
services revenues totaled $65 million in the third quarter of 2013, down $1
million compared to the third quarter of 2012. Connectivity and co-location saw
modestly lower demand in the third quarter of 2013 compared to the third
quarter of 2012, partially offset by the addition of eSpeed hosting revenues,
and new products, such as microwave connectivity and FinQloud, which are seeing
increased demand.
Information Services (23% of total net revenues) - Revenues were $118 million
in the third quarter of 2013, up $19 million from the third quarter of 2012.
Market Data (20% of total net revenues) - Total market data revenues were $100
million in the third quarter of 2013, up $16 million compared to the third
quarter of 2012. The third quarter of 2013 saw a $7 million increase in audit
collections compared to the prior year period, the inclusion of market data
revenues associated with eSpeed, growth in products such as NASDAQ Basic, and
select pricing initiatives.
Index Licensing and Services (3% of total net revenues) - Index licensing and
services revenues were $18 million in the third quarter of 2013, up $3 million
from the third quarter of 2012. The revenue growth was a function of materially
higher assets and number of licensed exchange traded products, including the
impact of the acquisition of the index business of Mergent, Inc.
Technology Solutions (26% of total net revenues) - Revenues were $131 million
in the third quarter of 2013, up $58 million from the third quarter of 2012.
Corporate Solutions (15% of total net revenues) - Corporate solutions revenues
were $78 million in the third quarter of 2013, up $56 million from the third
quarter of 2012. Corporate solutions revenue growth was primarily due to the
inclusion of the acquisition of Thomson Reuters' IR, PR, and Multimedia
businesses, as well as organic growth, in particular the growth of Directors
Desk, IR Suite, and PR distribution.
Market Technology (11% of total net revenues) - Market technology revenues were
$53 million in the third quarter of 2013, up $2 million from the third quarter
of 2012. The revenue increase is primarily due to change request and advisory
revenues and includes growth at BWise. Order intake increased, from $34 million
in the third quarter of 2012 to $119 million in the third quarter of 2013, a
record quarterly result. The backlog rose to $579 million, also a company
record, up from $540 million in the prior year period.
Listing Services (11% of total net revenues) - Revenues were $57 million in the
third quarter of 2013, up $2 million compared to the third quarter of 2012.
U.S. listing revenues were unchanged. European listing revenues rose, due to
higher market capitalization.
COST GUIDANCE - The company has narrowed the core expense guidance to between
$1,075-$1,090 million, from the previous $1,070-$1,100 million range. The new
initiatives or 'GIFT' expense guidance range has been reduced to $45 million,
from the previous $50-$60 million, and total expenses are now expected in the
$1,120-$1,135 million range, from the previous $1,120-$1,160 million range.
CORPORATE HIGHLIGHTS
-- Announced several major new mandates in Market Technology. NASDAQ OMX
announced agreements to supply its leading Market Technology systems to
exchanges including Boerse Stuttgart and Borsa Istanbul, the latter with
which NASDAQ OMX also entered into a broader strategic partnership.
-- Listing Services has strong momentum, highlighted by Marriott International
and Fairchild Semiconductor switches to NASDAQ. NASDAQ OMX saw 59 new U.S.
listings in the third quarter of 2013, including 38 IPOs, and 4 switches
from other markets. In addition, in October, Marriott International (MAR)
and Fairchild Semiconductor (FCS) announced voluntary switches to NASDAQ
listings.
-- Transitioned structure of Nordic derivatives clearinghouse. As part of the
process for creating an EMIR-compliant central counterparty, independent
directors have been appointed, and the current clearinghouse operation is
being maintained within the current company, renamed to NASDAQ OMX Clearing
AB. All exchange related operations have been moved to another separate
company within the Group. The application for a renewed clearing license
under EMIR regulation has been submitted to the Swedish Financial
Supervisory Authority, and it is in the final stage of the approval
process. Final approval is expected later this year.
-- Significant milestone for European swap clearing. On August 19, 2013 NASDAQ
OMX announced that the total cleared volume of SEK denominated interest
rate swaps (IRS) has reached SEK 100 billion, equal to [Eur]12 billion,
making
NASDAQ OMX Clearing the second largest IRS clearinghouse in Europe.
-- Strategic alliance between NASDAQ OMX and Natural Gas Exchange Inc. (NGX).
Created an alliance between NASDAQ OMX's U.S. physical energy entity,
NASDAQ OMX Commodities Clearing Company, and NGX's physical energy exchange
and clearinghouse, owned by TMX Group, which serves more than 250
contracting parties in the U.S. and Canada.
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets including 3 clearinghouses and 5
central securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-55 microsecond average speeds with
99.99% uptime, our technology drives more than 70 marketplaces in 50 developed
and emerging countries into the future, powering 1 in 10 of the world's
securities transactions. Our award-winning data products and worldwide indexes
are the benchmarks in the financial industry. Home to approximately 3,300
listed companies worth $7 trillion in market cap whose innovations shape our
world, we give the ideas of tomorrow access to capital today. Welcome to where
the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century.
To learn more, visit www.nasdaqomx.com. Follow us on Facebook
(http://www.facebook.com/NASDAQ) and Twitter
(http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
Non-GAAP Information
In addition to disclosing results determined in accordance with GAAP, NASDAQ
OMX also discloses certain non-GAAP and pro forma non-GAAP results of
operations, including, but not limited to, net income attributable to NASDAQ
OMX, diluted earnings per share, net exchange revenues, operating income, and
operating expenses, that make certain adjustments or exclude certain charges
and gains that are described in the reconciliation table of GAAP to non-GAAP
and pro forma non-GAAP information provided at the end of this release.
Management believes that this non-GAAP and pro forma non-GAAP information
provides investors with additional information to assess NASDAQ OMX's operating
performance by making certain adjustments or excluding costs or gains and
assists investors in comparing our operating performance to prior periods.
Management uses this non-GAAP and pro forma non-GAAP information, along with
GAAP information, in evaluating its historical operating performance.
The non-GAAP information is not prepared in accordance with GAAP and may not be
comparable to non-GAAP information used by other companies. The non-GAAP
information should not be viewed as a substitute for, or superior to, other
data prepared in accordance with GAAP.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements
that involve a number of risks and uncertainties. NASDAQ OMX cautions readers
that any forward-looking information is not a guarantee of future performance
and that actual results could differ materially from those contained in the
forward-looking information. Such forward-looking statements include, but are
not limited to (i) projections about our future financial results, growth,
trading volumes, taxes and achievement of synergy targets, (ii) statements
about the closing or implementation dates and benefits of certain strategic,
technology, de-leveraging and capital return initiatives, (iii) statements
about our integrations of our recent acquisitions and (iv) other statements
that are not historical facts. Forward-looking statements involve a number of
risks, uncertainties or other factors beyond NASDAQ OMX's control. These
factors include, but are not limited to, NASDAQ OMX's ability to implement its
strategic initiatives, economic, political and market conditions and
fluctuations, government and industry regulation, interest rate risk, U.S. and
global competition, and other factors detailed in NASDAQ OMX's filings with the
U.S. Securities and Exchange Commission, including its annual reports on Form
10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX's
website at http://www.nasdaqomx.com and the SEC's website at www.sec.gov.
NASDAQ OMX undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or otherwise.
NDAQF
The NASDAQ OMX Group, Inc.
Condensed Consolidated Statements of Income
(in millions, except per share amounts)
(unaudited)
Three Months Ended
---------------------------
Septembe June Septembe
r 30, 30, r 30,
2013 2013 2012
---------------------------
Revenues:
Market Services $ 499 $ 553 $ 519
Cost of revenues:
Transaction rebates (231) (276) (250)
Brokerage, clearance and exchange fees (68) (87) (84)
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Total cost of revenues (299) (363) (334)
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Total Market Services revenues less transaction 200 190 185
rebates, brokerage, clearance and exchange fees
Listing Services 57 58 55
Information Services 118 108 99
Technology Solutions 131 95 73
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Revenues less transaction rebates, brokerage, 506 451 412
clearance and exchange fees
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Operating Expenses:
Compensation and benefits 150 126 113
Marketing and advertising 7 8 6
Depreciation and amortization 33 28 26
Professional and contract services 41 35 27
Computer operations and data communications 22 20 18
Occupancy 26 23 22
Regulatory 8 8 8
Merger and strategic initiatives -- 25 (3)
Restructuring charges -- -- 10
General, administrative and other 17 19 15
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Total operating expenses 304 292 242
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Operating income 202 159 170
Interest income 2 2 2
Interest expense (32) (26) (24)
Loss on divestiture of business -- -- (14)
Loss from unconsolidated investees, net (1) -- --
---------------------------
Income before income taxes 171 135 134
Income tax provision 58 47 45
---------------------------
Net income 113 88 89
Net loss attributable to noncontrolling interests -- -- --
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Net income attributable to NASDAQ OMX $ 113 $ 88 $ 89
===========================
Per share information:
Basic earnings per share $ 0.68 $ 0.53 $ 0.53
===========================
Diluted earnings per share $ 0.66 $ 0.52 $ 0.52
===========================
Cash dividends declared per common share $ 0.13 $ 0.13 $ 0.13
===========================
Weighted-average common shares outstanding for
earnings per share:
Basic 167.3 166.4 166.2
Diluted 172.1 170.1 170.5
The NASDAQ OMX Group, Inc.
Revenue Detail
(in millions)
(unaudited)
Three Months Ended
---------------------------
Septembe June Septembe
r 30, 30, r 30,
2013 2013 2012
---------------------------
MARKET SERVICES
Derivative Trading and Clearing Revenues:
U.S. derivative trading and clearing $ 106 $ 125 $ 110
Cost of revenues:
Transaction rebates (58) (68) (57)
Brokerage, clearance and exchange fees (6) (9) (9)
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Total U.S. derivative trading and clearing cost (64) (77) (66)
of revenues
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Net U.S. derivative trading and clearing revenues 42 48 44
European derivative trading and clearing revenues 29 28 28
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Total net derivative trading and clearing revenues 71 76 72
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Cash Equity Trading Revenues:
U.S. cash equity trading 259 315 297
Cost of revenues:
Transaction rebates (173) (208) (193)
Brokerage, clearance and exchange fees (61) (78) (75)
---------------------------
Total U.S. cash equity cost of revenues (234) (286) (268)
---------------------------
Net U.S. cash equity trading revenues 25 29 29
European cash equity trading 21 22 18
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Total net cash equity trading revenues 46 51 47
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Fixed Income Trading Revenues:
Fixed income trading 19 -- --
Cost of revenues:
Brokerage, clearance and exchange fees (1) -- --
---------------------------
Total net fixed income trading revenues 18 -- --
---------------------------
Access and Broker Services Revenues 65 63 66
---------------------------
Total Market Services revenues less transaction 200 190 185
rebates, brokerage, clearance and exchange fees
---------------------------
LISTING SERVICES
U.S. listing services 43 44 43
European listing services 14 14 12
---------------------------
Total Listing Services revenues 57 58 55
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INFORMATION SERVICES
Market Data Products Revenues:
U.S. market data products 73 64 61
European market data products 20 20 17
Index data products 7 6 6
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Total Market Data Products revenues 100 90 84
Index Licensing and Services Revenues 18 18 15
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Total Information Services revenues 118 108 99
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TECHNOLOGY SOLUTIONS
Corporate Solutions Revenues:
Governance 4 4 3
Investor relations 47 24 11
Multimedia solutions 15 7 3
Public relations 12 9 5
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Total Corporate Solutions revenues 78 44 22
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Market Technology Revenues:
Software, license and support 36 35 36
Change request and advisory 9 9 7
Software as a service 8 7 8
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Total Market Technology revenues 53 51 51
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Total Technology Solutions revenues 131 95 73
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Total revenues less transaction rebates, brokerage, $ 506 $ 451 $ 412
clearance and exchange fees
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The NASDAQ OMX Group, Inc.
Condensed Consolidated Balance Sheets
(in millions)
September 30, December 31,
2013 2012
----------------------------
Assets (unaudited)
Current assets:
Cash and cash equivalents $ 300 $ 497
Restricted cash 81 85
Financial investments, at fair value 190 223
Receivables, net 372 333
Deferred tax assets 54 33
Default funds and margin deposits 1,934 209
Other current assets 141 112
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Total current assets 3,072 1,492
Non-current restricted cash -- 25
Property and equipment, net 249 211
Non-current deferred tax assets 399 294
Goodwill 6,191 5,335
Intangible assets, net 2,409 1,650
Other non-current assets 166 125
----------------------------
Total assets $ 12,486 $ 9,132
============================
Liabilities
Current liabilities:
Accounts payable and accrued expenses $ 255 $ 172
Section 31 fees payable to SEC 19 97
Accrued personnel costs 115 111
Deferred revenue 187 139
Other current liabilities 114 119
Deferred tax liabilities 38 35
Default funds and margin deposits 1,934 209
Current portion of debt obligations 45 136
----------------------------
Total current liabilities 2,707 1,018
Debt obligations 2,673 1,840
Non-current deferred tax liabilities 716 713
Non-current deferred revenue 152 156
Other non-current liabilities 182 196
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Total liabilities 6,430 3,923
----------------------------
Commitments and contingencies
Equity
NASDAQ OMX stockholders' equity:
Common stock 2 2
Additional paid-in capital 4,270 3,771
Common stock in treasury, at cost (1,023) (1,058)
Accumulated other comprehensive loss (51) (185)
Retained earnings 2,857 2,678
----------------------------
Total NASDAQ OMX stockholders' equity 6,055 5,208
Noncontrolling interests 1 1
----------------------------
Total equity 6,056 5,209
----------------------------
Total liabilities and equity $ 12,486 $ 9,132
============================
The NASDAQ OMX Group, Inc.
Reconciliation of GAAP Net Income, Diluted Earnings Per Share, Operating Income
and
Operating Expenses to Non-GAAP Net Income, Diluted Earnings Per Share, Operating
Income, and Operating Expenses
(in millions, except per share amounts)
(unaudited)
Three Months Ended
---------------------------
Septembe June Septembe
r 30, 30, r 30,
2013 2013 2012
---------------------------
GAAP net income attributable to NASDAQ OMX $ 113 $ 88 $ 89
---------------------------
Non-GAAP adjustments:
Merger and strategic initiatives (1) -- 25 (3)
Loss on divestiture of business -- -- 14
Restructuring charges -- -- 10
Special legal expenses -- -- 4
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Total non-GAAP adjustments -- 25 25
Adjustment to the income tax provision to reflect (3) (8) (10)
non-GAAP adjustments (2)
Significant tax adjustments, net (3) 3 -- 1
---------------------------
---------------------------
Total non-GAAP adjustments, net of tax -- 17 16
Non-GAAP net income attributable to NASDAQ OMX $ 113 $ 105 $ 105
===========================
GAAP diluted earnings per share $ 0.66 $ 0.52 $ 0.52
Total adjustments from non-GAAP net income above -- 0.10 0.10
---------------------------
Non-GAAP diluted earnings per share $ 0.66 $ 0.62 $ 0.62
===========================
Three Months Ended
---------------------------
Septembe June Septembe
r 30, 30, r 30,
2013 2013 2012
---------------------------
GAAP operating income $ 202 $ 159 $ 170
---------------------------
Non-GAAP adjustments:
Merger and strategic initiatives (1) -- 25 (3)
Restructuring charges -- -- 10
Special legal expenses -- -- 4
---------------------------
Total non-GAAP adjustments -- 25 11
---------------------------
Non-GAAP operating income $ 202 $ 184 $ 181
===========================
Total Non-GAAP revenues less transaction rebates, $ 506 $ 451 $ 412
brokerage, clearance and exchange fees
Non-GAAP operating margin (4) 40% 41% 44%
(1) For the three months ended September 30, 2013, merger and strategic
initiatives expense included $8 million of costs primarily related to the
acquisitions of eSpeed and the TR Corporate Solutions businesses. This amount
was offset by the remeasurement of a contingent purchase price liability
related to the BWise acquisition due to changes in the anticipated performance
of BWise.
(2) Relates to the $8 million of merger and strategic initiatives expense
described in note (1) above. We determine the tax effect of each item based on
the tax rules in the respective jurisdiction where the transaction occurred.
(3) This amount represents an increase in net deferred tax liabilities resulting
from changes in tax rates in various jurisdictions.
(4) Non-GAAP operating margin equals non-GAAP operating income divided by
non-GAAP revenues less transaction rebates, brokerage, clearance and exchange
fees.
The NASDAQ OMX Group, Inc.
Reconciliation of GAAP Net Income, Diluted Earnings Per Share, Operating Income
and
Operating Expenses to Non-GAAP Net Income, Diluted Earnings Per Share, Operating
Income, and Operating Expenses
(in millions)
(unaudited)
Three Months Ended
----------------------------------------
September 30, June 30, September 30,
2013 2013 2012
----------------------------------------
GAAP operating expenses $ 304 $ 292 $ 242
----------------------------------------
Non-GAAP adjustments:
Merger and strategic initiatives (1) -- (25) 3
Restructuring charges -- -- (10)
Special legal expenses -- -- (4)
----------------------------------------
Total non-GAAP adjustments -- (25) (11)
----------------------------------------
Non-GAAP operating expenses $ 304 $ 267 $ 231
========================================
(1) For the three months ended September 30, 2013, merger and strategic
initiatives expense included $8 million of costs primarily related to the
acquisitions of eSpeed and the TR Corporate Solutions businesses. This amount
was offset by the remeasurement of a contingent purchase price liability
related to the BWise acquisition due to changes in the anticipated performance
of BWise.
The NASDAQ OMX Group, Inc.
Quarterly Key Drivers Detail
(unaudited)
Three Months Ended
--------------------------------
September June September
30, 30, 30,
2013 2013 2012
--------------------------------
Market Services
Derivative Trading and Clearing
U.S. Equity Options
Total industry average daily volume (in 13.6 15.9 13.8
millions)
NASDAQ OMX PHLX matched market share 16.7% 18.0% 21.4%
The NASDAQ Options Market matched market 9.0% 8.9% 5.2%
share
NASDAQ OMX BX Options Market matched market 1.0% 1.0% 0.7%
share
--------------------------------
Total market share 26.7% 27.9% 27.3%
NASDAQ OMX Nordic and NASDAQ OMX Baltic
Average daily volume:
Options, futures and fixed-income contracts 346,940 438,418 371,230
Finnish option contracts traded on Eurex 116,583 101,255 70,211
NASDAQ OMX Commodities
Power contracts cleared (TWh)(1) 363 424 384
Cash Equity Trading
NASDAQ securities
Total average daily share volume (in 1.63 1.78 1.66
billions)
Matched market share executed on NASDAQ 24.3% 25.5% 25.2%
Matched market share executed on NASDAQ OMX 2.3% 2.4% 2.7%
BX
Matched market share executed on NASDAQ OMX 0.7% 0.8% 1.2%
PSX
Market share reported to the FINRA/NASDAQ
Trade Reporting Facility 37.7% 35.8% 31.5%
--------------------------------
Total market share (2) 65.0% 64.5% 60.6%
New York Stock Exchange, or NYSE, securities
Total average daily share volume (in 3.12 3.58 3.39
billions)
Matched market share executed on NASDAQ 11.3% 11.7% 12.8%
Matched market share executed on NASDAQ OMX 2.3% 2.2% 2.5%
BX
Matched market share executed on NASDAQ OMX 0.5% 0.5% 0.6%
PSX
Market share reported to the FINRA/NASDAQ
Trade Reporting Facility 33.6% 32.0% 28.6%
--------------------------------
Total market share (2) 47.7% 46.4% 44.5%
NYSE MKT and regional securities
Total average daily share volume (in 1.02 1.24 0.94
billions)
Matched market share executed on NASDAQ 13.0% 14.6% 16.1%
Matched market share executed on NASDAQ OMX 3.1% 2.7% 3.0%
BX
Matched market share executed on NASDAQ OMX 1.4% 1.4% 1.5%
PSX
Market share reported to the FINRA/NASDAQ
Trade Reporting Facility 32.4% 31.2% 29.5%
--------------------------------
Total market share (2) 49.9% 49.9% 50.1%
Total U.S.-listed securities
Total average daily share volume (in 5.77 6.60 5.99
billions)
Matched share volume (in billions) 67.9 80.7 76.6
Matched market share executed on NASDAQ 15.3% 15.9% 16.8%
Matched market share executed on NASDAQ OMX 2.4% 2.4% 2.7%
BX
Matched market share executed on NASDAQ OMX 0.7% 0.8% 0.9%
PSX
--------------------------------
Total market share 18.4% 19.1% 20.4%
NASDAQ OMX Nordic and NASDAQ OMX Baltic
Securities
Average daily number of equity trades 285,404 329,030 284,764
Total average daily value of shares traded $ 4.0 $ 4.4 $ 3.2
(in billions)
Total market share 67.3% 69.7% 68.5%
Listing Services
Initial public offerings
NASDAQ 38 35 17
Exchanges that comprise NASDAQ OMX Nordic and -- 6 1
NASDAQ OMX Baltic
New listings
NASDAQ (3) 59 67 40
Exchanges that comprise NASDAQ OMX Nordic and 5 12 4
NASDAQ OMX Baltic (4)
Number of listed companies
NASDAQ (5) 2,602 2,581 2,610
Exchanges that comprise NASDAQ OMX Nordic and 752 758 754
NASDAQ OMX Baltic (6)
Technology Solutions
Market Technology
Order intake (in millions)(7) $ 119 $ 44 $ 34
Total order value (in millions)(8) $ 579 $ 507 $ 540
(1) Primarily transactions executed on Nord Pool and reported for clearing to
NASDAQ OMX Commodities measured by Terawatt hours (TWh) .
(2) Includes transactions executed on NASDAQ's, NASDAQ OMX BX's and NASDAQ OMX
PSX's systems plus trades reported through the FINRA/NASDAQ Trade Reporting
Facility.
(3) New listings include IPOs, including those completed on a best efforts
basis, issuers that switched from other listing venues, closed-end funds and
separately listed exchange traded funds.
(4) New listings include IPOs and represent companies listed on the exchanges
that comprise NASDAQ OMX Nordic and NASDAQ OMX Baltic and companies on the
alternative markets of NASDAQ OMX First North.
(5) Number of listed companies for NASDAQ at period end, including separately
listed ETFs.
(6) Represents companies listed on the exchanges that comprise NASDAQ OMX
Nordic and NASDAQ OMX Baltic and companies on the alternative markets of
NASDAQ OMX First North at period end.
(7) Total contract value of orders signed during the period.
(8) Represents total contract value of orders signed that are yet to be
recognized as revenue.
CONTACT: Media Relations:
Joseph Christinat +1.646.441.5121
Joseph.Christinat@NASDAQOMX.Com
Investor Relations:
Ed Ditmire +1.212.401.8737
Ed.Ditmire@NASDAQOMX.Com
News Source: NASDAQ OMX
23.10.2013 Dissemination of a Corporate News, transmitted by DGAP -
a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US6311031081
WKN:
End of Announcement DGAP News-Service
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DGAP-News: NASDAQ OMX Reports Third Quarter 2013 Results
| Source: EQS Group AG