The Chicago Board Options Exchange’s net income fell 21% in the first quarter as costs rose, although trading revenue held up during the period.
Quarterly revenues totalled $98.6m on volume of 273.1m contracts, down only 5% from $104.3m on volume of 282.5m contracts in the first quarter of 2008.
A 3% fall in trading volume, combined with a barely changed rate per contract, translated into a 3% fall in...