Nasdaq Reports Mixed Volumes, Revenue Per Contract In Q2
Zacks Investment Research | Jul 10, 2017 11:32PM ET
Nasdaq, Inc. (NASDAQ:NDAQ) has reported mixed volumes for second-quarter 2017. While the U.S. equity options volume surged 75% year over year to 386 million contracts, revenue per contract was 15 cents, down by a penny on a year-over-year basis. Market share jumped to 41.4%
European options and futures volumes have, however, decreased 18% year over year to 22.2 million contracts in the second quarter. Revenue per contract was 39 cents, up 4 cents on a year-over-year basis.
Under its cash equities, Nasdaq’s U.S. matched equity volume in the second quarter totaled 79.3 billion shares, down 1.5% from the year-ago quarter. While the European equity volume increased 7.3% year over year to $220 billion. Again, the U.S. Fixed income volume in the second quarter decreased 9.5% year over year to $4.8 billion, the European fixed income volume on the other hand was 7 million contracts, up 25% year over year.
Despite the weakness in equity trading in recent years, Nasdaq’s organic growth has been aided by its strategy of accelerating its non-transaction revenue base, which includes market technology, listing and information revenues, plus management's medium-term outlook calls for mid-single digit growth over the next three to five years.
In the second quarter, there were 3,512 listed companies on Nasdaq compared with 3,464 in the year-ago quarter. Total listings improved 3.1% over the year-ago quarter to 3,857.
Year to date, Nasdaq’s shares have gained 6.2%, underperforming the 13.2% increase of the Zacks categorized Zacks Investment Research
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