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UPDATE 1-CME profit plunges on higher expenses, lower market data revenue

(Adds Q3 details)

Oct 26 (Reuters) - CME Group Inc, the world's largest futures market operator, reported a 34.7 percent fall in quarterly profit, hurt by higher expenses and lower revenue from market data and information services.

The company, which owns the Chicago Board of Trade and other futures exchanges, said its expenses rose 2.1 percent to $322.9 million in the third quarter ended Sept. 30.

Revenue from market data and information services declined 4.2 percent to $96.9 million.

Late last year, the company changed the pricing of its data services, which help investors make trading decisions and minimize risk.

Equity trading slumped 8.8 percent, owing to less volatile market as compared to last year, which was marked with uncertainties over Brexit and U.S. election.

However, CME's average daily trading volume rose 9.7 percent to 15.7 million contracts.

The Illinois-based company's net income fell to $308.6 million, or $0.91 per share, from $472.8 million, or $1.39 per share, a year earlier. (Reporting by Roopal Verma in Bengaluru; Editing by Maju Samuel)