TMX Group managed to make its derivatives business more profitable in the first quarter of 2010 than it had been a year ago, even though revenue fell by 16%.
Overall first quarter revenue at the TMX Group, operator of the Toronto Stock Exchange and Bourse de Montréal, rose 2% year on year to C$139.7m. Cash flows from its operating activities were C$71.6m, up 18% on the first quarter of 2009.
That enabled it to make net income of C$49.1m, up 14% from C$42.9m last year.“We are pleased to deliver...