The latest quarter results included $18m of pre-tax merger expenses and exit costs as well as the impact of the requisite reversal of discrete tax reserves, while prior year’s costs were $43m.
Total revenues, less transaction-based expenses, was $613m in the fourth quarter of 2010, down $27m, or 4% compared to $640m in the fourth quarter of 2009.
During the fourth quarter of 2010, derivatives net revenue dropped 6% as a 10% increase in US options net transaction revenue was offset by negative currency impact and lower European derivatives ADV.
In Cash Trading and Listings segment, revenue decline of 7% reflected a 13% decline in US cash ADV, year-over-year pricing changes in European cash and negative currency impact.
Operating income, excluding merger expenses and exit costs, was $188m, down $21m, or 10% compared to the fourth quarter of 2009 and included an $11 million negative impact attributable to foreign currency fluctuations.
Adjusted EBITDA, which excludes merger expenses and exit costs, was $268m, compared to $275m in the fourth quarter of 2009.
NYSE Euronext CEO Duncan Niederauer said 2010 was a year of significant progress for NYSE Euronext in executing on the company’s key strategic priorities and accelerating the transformation of business.
"We made significant investments in key business areas such as our new data centers, New York Portfolio Clearing and our Universal Trading Platform, and in 2011 our focus will be on leveraging these investments to continue to drive success for our customers and shareholders," Niederauer concluded.
