The decrease in net income was largely due to lower revenue from issuer services and cash markets trading, partially offset by higher revenue from derivatives markets trading and clearing as well as higher information services revenue.
Revenue decreased 7% to C$162.3m for the first quarter of 2012, compared to C$174.7m for the same period a year ago.
Cash markets revenue decreased 27% to C$24.6m, compared to C$33.6m for the same period prior year.
Issuer services revenue declined 19% to C$50.2m, compared to C$62m for the same period last year.
TMX Group CFO Michael Ptasznik said that the impact of market conditions on the company’s equity business was somewhat offset by its diversified business model during the first quarter.
"While issuer services, cash markets and energy markets trading revenue declined year over year, revenue in other key areas of our business grew over the first quarter of last year," Ptasznik said.
