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Deutsche Bourse Profit Soars on Market Volatility

German stock exchange operator Deutsche Boerse reported a 44 percent rise in third-quarter operating profit on Wednesday, beating market expectations.

The group, which also runs derivatives exchange Eurex and is in the process of acquiring leading U.S. equity options market International Securities Exchange (ISE), said earnings before interest, tax and amortization (EBITA) were 368.3 million euros ($532.1 million).

The average of forecasts in a Reuters poll of 12 analysts had been for EBITA of 340.2 million euros, and the highest forecast was 364.1 million euros.

Deutsche Boerse said in a statement that group sales grew 30 percent year-on-year in the third quarter to 561.9 million euros, above the Reuters poll consensus of 552.9 million euros.

Deutsche Boerse's sales growth stemmed partly from increased turnover in cash equities and derivatives amid higher volatility sparked by the credit crisis, which began with the U.S. subprime mortgage market meltdown this summer.