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Ok. This morning NYX reported….. NEW YORK, Feb 08, 2010 (BUSINESS WIRE) — NYSE Euronext (NYX) announced trading volumes for its global derivatives and cash equities exchanges for January 2010. Derivatives trading volumes in January 2010 were stronger, with European derivatives volumes increasing 32.4% and U.S. options trading volumes increasing 102.4% versus prior year. Cash equities trading volumes were mixed in January 2010, with European cash transactions increasing 4.1% and U.S. cash equities trading volumes declining 23.7% from prior year levels, respectively. Both European and U.S. cash trading volumes, however, increased from fourth quarter 2009 levels. Familar theme? Derivatives Revenue
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In Trader’s Magazine, there is a meaty article on NASDAQ. See here : http://www.tradersmagazine.com/issues/20_302/nasdaq-omx-stock-exchange-options-market-robert-greifeld-104931-1.html Some key takeaways from that article: -Nasdaq’s fight to hang onto its share of the pie this year forced it to take its pricing model into the red. Inverted pricing. Loss-leader strategy to stem the slide. – The upshot is that domestic equities is now a lot less important to Nasdaq’s bottom line. Today Nasdaq takes in more money from domestic options trading than it does from domestic stock trading. And it has been aggressively expanding in foreign markets. – “Access Services” is more revenue than
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