CME Group profit beats estimates on higher trading revenue
(Reuters) - CME Group Inc, the world's largest futures market operator, reported a better-than-expected quarterly profit as options trading volumes reached record levels in volatile markets.
Revenue from clearing and transaction fees rose 11 percent to $715 million, while daily trading volumes rose 7 percent, said CME, which owns the Chicago Mercantile Exchange.
"During the quarter, we reached record levels of options volume and the highest percentage of volume traded electronically", Chief Executive Phupinder Gill said on Thursday.
Net income attributable to CME Group in the third quarter ended Sept. 30 rose to $359.9 million, or $ 1.06 per share, from $290 million, or 86 cents, a year earlier.
Excluding items, the company earned $1.02 per share, handily beating analysts' average estimate of 99 cents, according to Thomson Reuters I/B/E/S.
Up to Wednesday's close of $95.94, the stock had gained 8.2 percent this year.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Don Sebastian)
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