NEW YORK (AP) — Nasdaq OMX Group Inc. says its fourth-quarter profit rose 23 percent on lower impairment charges and taxes at the global exchange operator compared with a year ago.
But Nasdaq OMX Group's revenue fell as the exchange operator faces increasing market competition. Competing trading platforms launched in recent years have eaten away at market share held by long-standing exchange operators like Nasdaq OMX and NYSE Euronext. The increased competition has also pressured fees generated from handling trades.
Nasdaq OMX Group's shares fell almost 2 percent in morning trading.
Its net income for the final three months of 2009 rose to $43 million, or 20 cents per share. Excluding special charges, however, its earnings fell 10 percent from a year ago.
To add a comment, please register or login.