Deutsche Boerse sells shares in Bats amid flat quarterly earnings

Group reports slight increase in revenues, as Clearstream bolsters results in third quarter.

Deutsche Boerse has sold approximately a third of its shares in Bats Global Markets for $86 million, as the Group reports a relatively flat third quarter.

The earnings report explained that following the sale, “the company expects a positive impact on the earnings after tax of around €23 million in the fourth quarter 2016.”

The shares were sold on 26 October this year, to “optimise its portfolio of shareholdings.”

The exchange saw revenues total €558.5 million in the third quarter this year, up only slightly from the same period last year when revenues totalled €555 million.

Deutsche Boerse’s Clearstream business unit has reported an increase in net revenues, as the Group sees a flat third quarter amid a weak market environment.

However, its Clearstream business saw a 6% increase in revenues, from €184 million in Q3 last year, to €196 million in the third quarter this year.

Similarly, Deutsche Boerse’s Eurex unit posted a slight increase in revenues, totalling €228 million in the third quarter this year, compared to €221 million in the same period in 2015.

Its market and data services business sales were down almost 6% from €102 million in 2015, to €96 million in the third quarter this year.

Deutsche Boerse attributed its increase in net revenues to Eurex, Clearstream amid a “weaker market environment.”

Chief financial officer of Deutsche Boerse, Gregor Pottmeyer, said the Group were able to “compensate for the weaker market environment through growth areas such as commodities and Clearstream’s international business and to increase net revenue overall.”