Financial markets operator Euronext NV (EPA:ENX) has released its quarterly financial report for Q1-2018, indicating healthy growth across most of its business lines, including 16% top line Revenue growth.
Euronext indicated that its recently acquired Forex ECN business, FastMatch, also did fairly well in Q1, with FastMatch revenues totaling €5.2 million (USD $6.2 million) in Q1, or an average of €1.7 million monthly. That’s up from an average of €1.5 million monthly in Q4-2017.
Euronext acquired 90% of FastMatch last August for $153 million – a fairly steep price, given the company’s run rate Revenues of about $25 million annually. Euronext didn’t break out FastMatch’s EBITDA or profitability levels, but at a monthly Revenue level of €1.7 million, we believe that its margins are fairly low at this stage.
Euronext’s full Q1-2018 report can be seen here.