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NYSE flexes profits muscle

NYSE Group, the newly-public parent of the New York Stock Exchange, made profits of $30.3m (€24.4m) in its first quarter, up 17% from the same time last year. The results came as John Thain, the exchange's chief executive, eyes international exchanges with a view to consolidation.

The results included the operations of the New York Stock Exchange for the full first quarter and of Archipelago, the exchange's electronic rival now known as NYSE Arca, since it was acquired for $10bn in March. They also included earnings from the Pacific Exchange, an options exchange NYSE acquired through buying Archipelago.

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