Euronext Returns Flat Spot FX Trading Revenue in Q3 2022

The European New Exchange Technology (Euronext), a Pan-European exchange, returned a flat revenue from its spot forex marketplaces at the end of the third quarter of 2022. The exchange’s revenue from the market came in at €7.3 million, which is the same result posted at the end of the second quarter of the year. However, compared to Q3 2021, the revenue represents a 30.1% jump.

Euronext, which operates regulated markets in Belgium, France, and Italy, among other countries, disclosed these numbers in its Q3 2022 results shared with Finance Magnates on Thursday. The exchange's carried-over revenue comes as Euronext FX’s total spot trading volumes dropped -7% in Q3 2022 but improved by 24.2% when compared to Q3 2021. The spot forex volumes for Q3 2022 came in at $1.44 trillion.

Additionally, the average daily volume of the market slumped -8% to $21.74 billion during the third quarter.

“Euronext FX trading volumes and revenue benefited from the continued positive momentum with heightened volatility, geographic expansion and product diversification,” Euronext said.

“Over the third quarter of 2022, average daily volumes of USD 21.7 billion were recorded, up +24.2% compared to Q3 2021. On a like-for-like basis at constant currencies, FX trading revenue was up +11.2% in Q3 2022 compared to Q3 2021,” the Pan-European exchange added.

Broader Market Revenue

Meanwhile, Euronext’s trading revenues from its cash, derivatives, fixed income and power trading marketplaces (spot forex market included) dropped -9% to €117.8 billion in the third quarter. During the second quarter, the figure came in at €129.2 billion.

Similarly, when compared to the same quarter in 2021, the total revenue from these marketplaces in Q3 2022 dropped -5.2% as the figure came in at €124.2 billion last year.

Our Q3 results demonstrated the robustness of our business model
We are happy to report strong adjusted EBITDA and adjusted net income and to have confirmed our leading position in equity listing in Europe and as the main trading venue in Europe
Report: https://t.co/VllTOpAy8E pic.twitter.com/I1rE4rm6mZ

— Euronext (@euronext) November 3, 2022

“This third quarter of 2022 demonstrated the robustness of Euronext’s diversified business model in a more challenging trading environment," Stéphane Boujnah, the Chief Executive Officer and Chairman of the Managing Board of Euronext, noted.

"We recorded strong growth in our non-volume related activities, as well as good performance of derivatives, FX and power trading activities," Boujnah added.