Exclusive Online Only ContentCME Net Income Jumps, While Revenue Contracts
February 4, 2010
CME Group said Thursday that net income in its fourth quarter jumped to $203 million, from $62 million, even as its revenue contracted.
In the last quarter of 2009, the operator of options, commodity and derivatives markets said its revenue was $667 million. That’s down 4 percent from $692 million, the year earlier.
Its net income was reduced $24 million, for the reduced value of its investment in the Dubai Mercantile Exchange.
Income from operations fell 3 percent, to $265 million, from $274 million.
For the full year, net income surged 15 percent, to $826 million. In 2008, it was $715 million. Revenue gained 2%, to $2.61 billion, from $2.56 billion.
The 2009 GAAP results reflect the operations of Chicago Mercantile Exchange (CME), Board of Trade of the City of Chicago (CBOT) and New York Mercantile
"Despite lingering market stress and a cyclical year-end slowdown, CME Group finished the fourth quarter with the strongest quarterly performance all year," said CME Group Executive Chairman Terry Duffy. "We achieved the highest quarterly revenue, operating income and net income as some of our major markets began to rebound.’’
Duffy said CME saw more than 55 percent growth in FX and metals trading, as well as 20 percent growth in interest rate and energy trading. He also said January gave the CME its second-highest month in overall volume since the credit crisis began.
