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Higher average daily volume boosts CME Group's Q1 results

CME GroupInc. reported on April 28 first-quarter net income of $367.8million, or $1.09 per common share, up from $330.4 million, or 98 cents percommon share, in the year-ago period.

Adjusted for nonrecurring items, net income would have been$390 million and EPS would have been $1.15, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate forthe quarter was $1.15.

"Our record first-quarter financial performance wasdriven by our highest quarterly average daily volume to date, including recordvolumes in energy, overall options and electronic options," CME GroupExecutive Chairman and President Terry Duffy said.

Total revenues for the quarter climbed to $934.2 millionfrom $842.7 million. Clearing and transaction fees rose to $796.1 million from$708.2 million. Market data and information services revenues increased to$102.4 million from $98.0 million. Access and communication fees were $21.6million, compared with $21.3 million.

Total expenses increased to $360.3 million from $335.4million.

First-quarter average daily volume was 16.9 millioncontracts in the first quarter, up 13% from 15.0 million contracts in the firstquarter of 2015.