Nasdaq reports strong Q1 amid falling FICC revenues

CEO, Bob Greifeld, said strong performance was down to “relentless focus on applied technology, innovation, and resiliency.”

Nasdaq’s first quarter earnings revealed a 5% increase in overall net revenues, as earnings for fixed income, currency and commodities (FICC) fell.

The trading venue’s net revenues were up from $507 million in Q1 2015, to $534 million in the first quarter this year.

However, FICC suffered a decline in revenues from $24 million in the first quarter last year, to $20 million in Q1 this year.

The report said the declines in FICC were “due to the negative impact of NFX trading incentives and a decline in US fixed income revenues, partially offset by higher European fixed income and commodities revenues.”

Nasdaq’s equity derivatives trading and clearing net revenues were up $2 million in the first quarter this year compared to the same period last year, totalling $48 million.

The increase in equity derivatives revenues “was primarily driven by higher US industry trading volumes and higher US average net capture, partially offset by lower US market share,” Nasdaq said.

Chief executive officer at Nasdaq, Bob Greifeld, said the company’s “relentless focus on applied technology, innovation, and resiliency continues to strengthen our competitive position.”