NZX enjoys rising revenues
The New Zealand Exchange’s operating revenue was $11.85m in the first quarter of 2010, up 46% year on year. Operating expenditure rose 113% to $7.25m. Ebitda for the period was $5.22m, up 18% year on year.
The exchange expects its headline product to be dairy derivatives. It predicts that volume in these products will be modest in the short term, which means that in 2010 and 2011, “a significant part of NZX’s derivatives revenue will derive from participant fees”.
It expects market data revenue to rise steadily over 2010, after it bottomed in the fourth quarter of 2009.
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