NYSE Euronext has reported a 25% increase in operating income during the first quarter of the year, despite suffering from falling revenues, as its derivatives business overtook equities as the biggest source of income.

The transatlantic exchange group today reported net revenues of $645m (€488m) and net income of $140m during the first quarter, a 25% increase on the same period last year, with derivatives revenues increasing by 44% to $224m.