Two North American exchanges last week reported declines in their market data revenues because of a shrinking user base and the tough economic climate.
Nasdaq’s Market Information Services revenue declined 11.3 percent to $43.9 million compared with the fourth quarter of 2002 and 16.7 percent compared with the first quarter of 2002. Nasdaq attributes the decline to the drop in Nasdaq’s Level 1 and InterMarket Tape Fee revenue.
Nasdaq’s net income was $2.6 million in the first quarter of 2003,
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