NYSE reports 2006 profits

5 February 2007

New York Stock Exchange Group (NYSE) has announced fourth quarter profits of $45.5 million, with profits of $205 million reported for the whole of 2006.

Increased transaction fees, together with gains from options trading, was the main driver of profits, although earnings were hit by significant restructuring and merger costs.

NYSE's busy year included a merger with Archipelago Holdings in March, making the exchange a publicly traded company, as well as numerous other changes.

"Among other things, we have revamped our transaction pricing, restructured the profile of our business portfolio - including through the implementation of the Hybrid Market and taking full control of our technology expenses as a result of our 100 per cent ownership of SIAC - announced the NASD Regulation transaction, and launched our new options platform," said the group's chief financial officer, Nelson Chai.

Plans for 2007 include the impending merger with Euronext, the cost of which has also affected profits.

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