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8-K - FORM 8-K - NYSE Euronexty83485e8vk.htm
EX-99.3 - EX-99.3 - NYSE Euronexty83485exv99w3.htm
EX-99.2 - EX-99.2 - NYSE Euronexty83485exv99w2.htm
EX-99.5 - EX-99.5 - NYSE Euronexty83485exv99w5.htm
EX-99.6 - EX-99.6 - NYSE Euronexty83485exv99w6.htm
EX-99.4 - EX-99.4 - NYSE Euronexty83485exv99w4.htm
Exhibit 99.1
                                         
    Year ended December 31, 2009  
    Information  
    Services and  
            Cash Trading     Technology     Corporate and        
$ in millions   Derivatives     and Listings     Solutions     Eliminations     Consolidated  
Revenues
                                       
Transaction and Clearing Fees
  $ 845     $ 2,582     $     $     $ 3,427  
Market Data
    42       221       140             403  
Listing
          407                   407  
Technology Services
                222             222  
Other Revenue
    31       188             6       225  
 
                             
Total Revenue
    918       3,398       362       6       4,684  
 
                                       
Transaction-based Expenses:
                                       
Section 31 Fees
          388                   388  
Liquidity Payments, Routing & Clearing
    195       1,623                   1,818  
 
                             
 
                                       
Total Revenue, Less Transaction-based Expenses
    723       1,387       362       6       2,478  
 
                                       
Merger Expenses & Exit Costs (M&E)
    382       104       27       3       516  
Other Operating Expenses
    381       867       309       119       1,676  
 
                             
Operating Income — GAAP
  $ (40 )   $ 416     $ 26     $ (116 )   $ 286  
 
                             
Operating Income — Excluding M&E
  $ 342     $ 520     $ 53     $ (113 )   $ 802  
 
                             
Operating Margin — Excluding M&E
    47 %     37 %     15 %     N/M       32 %
Certain items in the table above have been reclassified to conform to the anticipated presentation in our 2010 results of operations. To supplement NYSE Euronext’s consolidated financial statements prepared in accordance with GAAP and to better reflect period-over-period comparisons, NYSE Euronext uses non-GAAP financial measures of performance, financial position or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure, calculated and presented in accordance with GAAP. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to (i) present the effects of certain merger expenses, exit costs and other special items and (ii) improve overall understanding of NYSE Euronext’s current financial performance and its prospects for the future. Specifically, NYSE Euronext believes the non-GAAP financial results provide useful information to both management and investors regarding certain additional financial and business trends relating to financial condition and operating results. In addition, management uses these measures for reviewing financial results and evaluating financial performance. The non-GAAP adjustments for all periods presented are based upon information and assumptions available as of the date of this filing.