TMX Q1 net income falls

Source: TMX Group

TMX Group Inc. [TSX:X] announced results for the first quarter ended March 31, 2012.

Commenting on the first quarter of 2012, Thomas Kloet, Chief Executive Officer of TMX Group said: "Despite a somewhat challenging economic environment globally so far in 2012, we remain focused on growth. We continue to make very good progress on some key initiatives, including the launch of REPO clearing by CDCC, the integration of Razor Risk Technologies within our technology services operation and the development of TMX Quantum XA. We remain committed to investing in our existing business and other new opportunities while looking for additional ways to realize efficiencies."

Michael Ptasznik, Chief Financial Officer of TMX Group said, "The impact of market conditions on our equity business was somewhat offset by our diversified business model during the first quarter. While issuer services, cash markets and energy markets trading revenue declined year over year, revenue in other key areas of our business grew over the first quarter of last year. Higher volumes on BOX and MX contributed to growth in derivatives revenues. In addition, we have experienced growth through diversification within our information services operation as we have expanded into other services including those provided by TMX Atrium." 

Read the full statement here

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