NEX revenue increases by 7 percent 11 July 2018London Reporter: Maddie Saghir
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NEX Group’s revenue for Q1 to 30 June 2018 has increased by 7 percent on a constant currency basis, according to the company’s new trading statement.
The announcement was made ahead of its annual general meeting.
NEX said it had benefited from divisional performance and foreign exchange (FX) hedges.
NEX Markets revenue increased by 2 percent on a constant currency basis (decreased by 2 percent on a reported basis) as the phasing of the China Foreign Exchange Trade System (CFETS) revenue recognition held back revenue growth.
Additionally, NEX Optimisation’s revenue increased by 7 percent on a constant currency basis (4 percent on a reported basis) during the first quarter compared to the same period last year.
Michael Spencer, group CEO of NEX, said: “We’ve seen a solid start to the year with episodic volatility driving volumes across the EBS and BrokerTec platforms and increased demand for our products and services from TriOptima and Reset.”
He added: “As previously outlined, the transaction with CME remains on track to complete in the second half of the current calendar year.”
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