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FRANKFURT, Germany - Deutsche Boerse AG, the company that operates Germany's stock exchange, said late Tuesday that its third-quarter profit rose 8 percent on revenue from Eurex and Clearstream.
The Frankfurt-based operator of the DAX-30 index and derivatives exchange Eurex, which it owns jointly with the Swiss Exchange, earned 257.3 million euros ($329 million) in the July-September period, compared with 238.2 million euros last year.
Sales rose nearly 10 percent to 616.1 million euros ($787.9 million) from 561.9 million euros a year earlier.
Looking ahead, the company expects to achieve "record" results for the year thanks in part to cost-management efforts and lower tax rates. It will issue cost guidance for 2009 in early December following the meeting of the supervisory board.
The results were released well after shares of Deutsche Boerse closed 13.4 percent higher to 68.70 euros ($87.86) in Frankfurt trading.
Xetra sales revenue fell by 12 percent to 99.9 million euros ($127.7 million), a decline the company blamed on what it said was investor restraint in cash market trading. The trading volume on Xetra, the electronic trading index, fell 18 percent to 540.3 billion euros ($691 billion) from 602.2 billion in the third quarter of 2007.
Revenue in the Clearstream segment, including interest from banking business, dipped 3 percent to 244.9 million euros ($313.2 million). The average worth of the securities held in custody by Clearstream slipped 2 percent to 10.8 trillion euros ($13.8 trillion).
Sales in the company's Market Data & Analytics sales rose percent to 46.1 million euros ($58.9 million), mainly because of new subscriptions for price and trading data for cash and futures markets.
Information Technology revenue fell 2 percent to 23.4 million euros ($29.9 million) due to lower volumes recorded on the trading platforms for external costumers.
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