Revenue for the company was aided by divisional performance and FX hedges.
Financial technology company NEX Group has announced its trading statement for the period of April 1, 2018, to June 30, 2018, as well as its revenue for the first quarter of this year. The results were posted ahead of its Annual General Meeting today.
Group revenue for the first quarter of this year, ending June 30, 2018, increased by seven percent on a constant currency basis, or three percent on a reported basis. According to the statement, the company benefited from divisional performance and FX hedges.
NEX’s markets revenue also increased on a constant currency basis, up two percent. However, on a reported basis revenue decreased by two percent. This was due to the phasing of the China Foreign Exchange TradeSystem (CFETS) revenue recognition, which held back growth.
Looking at NEX Optimisation’s revenue, on a constant currency basis the first quarter saw a jump of seven percent when compared to the same period last year. On a reported basis this figure comes in at an increase of four percent.
Commenting on the results, Michael Spencer, Group Chief Executive Officer of NEX said: “We’ve seen a solid start to the year with episodic Volatility driving volumes across the EBS and BrokerTec platforms and increased demand for our products and services from TriOptima and Reset.”
CME acquisition
In March this year, Finance Magnates reported that Chicago-based CME Group officially confirmed that it would acquire the NEX Group. The size of the deal is estimated at £3.9 billion ($5.5 billion). It is expected to be completed in the second half of this year.
CME Group is seeking to acquire all shares as an indicative cash price of £10 ($14) per share. At the time of the announcement, shares in NEX closed up 9.8 percent at 976.43p giving the company a market value of nearly £3.71 billion ($5.22 billion).
In the statement, Spencer also spoke on the progress of the deal. He added: “as previously outlined, the transaction with CME remains on track to complete in the second half of the current calendar year.”
Financial technology company NEX Group has announced its trading statement for the period of April 1, 2018, to June 30, 2018, as well as its revenue for the first quarter of this year. The results were posted ahead of its Annual General Meeting today.
Group revenue for the first quarter of this year, ending June 30, 2018, increased by seven percent on a constant currency basis, or three percent on a reported basis. According to the statement, the company benefited from divisional performance and FX hedges.
NEX’s markets revenue also increased on a constant currency basis, up two percent. However, on a reported basis revenue decreased by two percent. This was due to the phasing of the China Foreign Exchange TradeSystem (CFETS) revenue recognition, which held back growth.
Looking at NEX Optimisation’s revenue, on a constant currency basis the first quarter saw a jump of seven percent when compared to the same period last year. On a reported basis this figure comes in at an increase of four percent.
Commenting on the results, Michael Spencer, Group Chief Executive Officer of NEX said: “We’ve seen a solid start to the year with episodic Volatility driving volumes across the EBS and BrokerTec platforms and increased demand for our products and services from TriOptima and Reset.”
CME acquisition
In March this year, Finance Magnates reported that Chicago-based CME Group officially confirmed that it would acquire the NEX Group. The size of the deal is estimated at £3.9 billion ($5.5 billion). It is expected to be completed in the second half of this year.
CME Group is seeking to acquire all shares as an indicative cash price of £10 ($14) per share. At the time of the announcement, shares in NEX closed up 9.8 percent at 976.43p giving the company a market value of nearly £3.71 billion ($5.22 billion).
In the statement, Spencer also spoke on the progress of the deal. He added: “as previously outlined, the transaction with CME remains on track to complete in the second half of the current calendar year.”
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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