Nasdaq OMX Group 3Q Profit Rises On Cost Cuts

Nasdaq OMX made some changes to trading fees that are expected to increase revenue by as much as $15 million in the fourth quarter, assuming the exchange operator maintains the market share and volume it saw in October for the remainder of the quarter, Greifeld said.

Greifeld noted improvement at Nasdaq OMX's BX market, which it launched earlier in the year. It was the second U.S. cash equity market Nasdaq launched in 2009 as it tries to regain market share. BX's market share of U.S. cash equities was 2.7 percent in the third quarter, but rose to 3.7 percent in October, Greifeld said during the call.

Revenue for European equity markets also dipped during the quarter as the value of shares traded declined and because of currency exchange rates.

Nasdaq OMX was able to offset some of the declines in revenue by reducing costs. The exchange operator cut costs by 4 percent in the quarter. Operating expenses totaled $218 million. Declining expenses was primarily the result of lower compensation and benefits payments and a cut in marketing and advertising spending.

Shares of Nasdaq OMX lost 13 cents to close at $18.07 Thursday.

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