The latest financial report reveals significant growth in foreign exchange revenue, marking a 21.3% increase in the fourth quarter of 2024, reaching a total of $93.6 million. This surge is attributed to a rise in trading volumes for options and emerging markets within the foreign exchange sector.
In addition to the foreign exchange gains, revenue from rates has seen an 8.8% increase compared to the same period last year, bringing that figure to $169.6 million. This rise is attributed to enhanced trading volumes in interest rate derivatives, listed rate products, and U.S. Treasury transactions.
Revenue from data, network, and post-trade services rose by 10.3% to $32.6 million. Much of this increase comes from the strong performance of subscription-based revenue channels, particularly through Fenics Market Data and Lucera. However, revenues were slightly dampened due to a decline in post-trade revenue following the sale of the Capitalab business during the same quarter. When excluding the effects of Capitalab, revenue in this segment increased by over 20% year-over-year.
Pre-tax adjusted earnings for the quarter reached $129.5 million, reflecting a 16.9% growth, while post-tax adjusted earnings totaled $123.5 million, a notable 21.9% increase. This resulted in adjusted earnings per share of $0.25, marking a 19% improvement. Furthermore, adjusted EBITDA for the quarter was reported at $192.0 million, which is 26.7% higher than the previous year.
A quarterly qualified cash dividend of $0.02 per share has been declared and is scheduled for payment on March 20, 2025, for stockholders of record as of March 6, 2025, coinciding with the ex-dividend date.
The Chief Operating Officer highlighted that the company achieved record revenues for both the fourth quarter and the full year, with growth rates of 11% and 12%, respectively. This increase is largely fueled by outstanding performance in the ECS, rates, and foreign exchange divisions, which are surpassing overall market growth. Current trading volumes indicate a continuation of this upward trend into 2025, exceeding first-quarter records from the previous year.
Additionally, there was a note of recognition for a leadership figure within the organization, who has been nominated for a significant governmental position. The confidence in their capabilities suggests that the expected transition could positively influence the organization, given their proven expertise and dedication to fiscal management.
In summary, the reported financial performance not only showcases robust revenue growth across various business segments but also indicates strong momentum as the company moves forward into the new fiscal year, with substantial trading volumes and continued operational success expected.