Core Insights - OTC Markets Group Inc. reported strong financial results for the second quarter of 2025, with significant growth in revenues and net income compared to the same period in 2024 [3][4][9] Financial Performance - Gross revenues reached $30.5 million, an increase of 11% year-over-year [3][4] - Net revenues were $29.5 million, up 10% from $26.8 million in the previous year [3][4] - Operating income increased by 8% to $8.8 million, with an operating profit margin of 29.9% [3][4][9] - Net income rose to $7.3 million, reflecting an 8% increase compared to $6.7 million in the prior year [3][4][9] - Diluted earnings per share (EPS) increased by 7% to $0.60, while adjusted diluted EPS rose by 8% to $0.92 [3][4][9] Revenue Breakdown - OTC Link revenues grew by 19% to $6.4 million, driven by elevated trading volumes [3][4][9] - Market Data Licensing revenues increased by 14% to $12.3 million, with professional user revenues up 28% [3][4][9] - Corporate Services revenues saw a 3% increase to $11.7 million, supported by price increases and a higher number of subscribers [3][4][9] Operational Highlights - The company launched the OTCID Basic Market on July 1, 2025, enhancing trading opportunities for public companies [2] - Average daily trades increased significantly to approximately 63,000, compared to about 35,000 in the prior year [4][9] - The company returned $2.2 million to shareholders in the form of dividends during the quarter [4] Shareholder Returns - A quarterly cash dividend of $0.18 per share was declared, payable on September 18, 2025 [5] - The company has a stock buyback program authorized for up to 300,000 shares, although no shares were repurchased in the second quarter of 2025 [6]

Second Quarter 2025 Highlights: Gross revenues of $30.5 million for the quarter, up 11% versus the prior year periodOperating income of $8.8 million for the quarter, up 8% versus the prior year periodOperating profit margin of 29.9%, versus 30.4% for the prior year periodNet income of $7.3 million, up 8% versus the prior year period, and quarterly diluted GAAP EPS of $0.60, up 7% Total cash returned to shareholders during the quarter of $2.2 million, in the form of dividendsAnnouncing third quarter 2025 div ...

Group 1: Economic Indicators and Market Reactions - The recent US non-farm employment data significantly underperformed market expectations, leading to concerns about a cooling labor market [1] - The labor participation rate remained stable, but the slowdown in wage growth and a slight increase in the unemployment rate indicate weakening marginal resilience in the job market [1] - The market is experiencing a rapid repricing of economic outlook, with major US stock indices dropping over 1.5% and a short-term decline of 5 basis points in the 10-year US Treasury yield [1] Group 2: Federal Reserve Policy Uncertainty - The dismissal of the US Bureau of Labor Statistics head and the resignation of Federal Reserve Governor Kugler have amplified policy uncertainty [2] - There is a noticeable split among Federal Reserve officials, with dovish members advocating for an early interest rate cut due to weak employment data, while hawkish members focus on persistent core PCE inflation above the 2% target [2] Group 3: Market Expectations and Trading Platforms - Market bets on a policy shift have increased significantly, with the probability of a 25 basis point rate cut in September rising to 82%, a 30 percentage point increase from before the data release [3] - XBIT decentralized exchange has gained traction among investors seeking to hedge against traditional market volatility, offering advantages such as no KYC requirements and self-custody of assets [3] Group 4: Geopolitical Risks and Asset Performance - The escalation of geopolitical tensions, particularly the Russia-Ukraine situation, has injected risk premiums into global asset pricing, with gold futures surpassing $2050 per ounce and Brent crude oil futures rising by 2.3% [5] - The dollar index is experiencing fluctuations due to a combination of safe-haven demand and expectations of policy easing, while emerging market currencies are depreciating under risk sentiment [5] Group 5: Market Volatility and Investment Strategies - The non-farm data has acted as a catalyst for global financial markets to reassess economic and policy fundamentals, with the VIX index rising above 20, indicating potential for sustained asset price volatility [8] - Investors are advised to increase allocations to cash and high-rated bonds in their portfolios to mitigate liquidity shocks and price adjustments due to fluctuating policy expectations [5][8]

Core Viewpoint - Nasdaq reported its monthly trading volumes for July 2025, indicating ongoing activity in the capital markets [1]. Company Overview - Nasdaq is a leading global technology company that provides services to corporate clients, investment managers, banks, brokers, and exchange operators, enhancing their interaction with global capital markets [2]. - The company aims to deliver advanced platforms that improve liquidity, transparency, and integrity within the global economy [2]. - Nasdaq offers a diverse range of data, analytics, software, and client-centric services to help clients achieve their business objectives [2]. Contact Information - Media Relations Contact: David Lurie, +1.914.538.0533, David.Lurie@Nasdaq.com [4] - Investor Relations Contact: Ato Garrett, +1.212.401.8737, Ato.Garrett@Nasdaq.com [4]

Core Insights - CME Group reported its second-highest average daily volume (ADV) for July 2025 at 21.9 million contracts, following a record of 24.8 million contracts in July 2024 [1] - The company achieved a record monthly ADV in cryptocurrency products, with 302,000 contracts traded, representing a notional value of $13.6 billion [4] Volume Breakdown - Interest Rate ADV reached 10.8 million contracts - Equity Index ADV was 5.5 million contracts - Energy ADV totaled 2.4 million contracts - Agricultural ADV amounted to 1.7 million contracts - Metals ADV was 783,000 contracts - Foreign Exchange ADV stood at 747,000 contracts [4] Notable Increases - SOFR futures ADV increased by 3% to 3.3 million contracts - U.S. Treasury Bond options ADV rose by 21% to 203,000 contracts - NY Heating Oil futures ADV surged by 29% to 218,000 contracts - Micro Gold futures ADV saw a significant increase of 92% to 203,000 contracts [4] Cryptocurrency Highlights - Record monthly Micro Ether futures ADV reached 175,000 contracts - Record monthly Ether futures ADV was 22,000 contracts - Micro E-mini Equity Index futures and options ADV of 2.2 million contracts represented 40% of overall Equity Index ADV [4] BrokerTec Performance - BrokerTec U.S. Repo average daily notional value (ADNV) increased by 23% to $358.7 billion - Customer average collateral balances for the rolling 3-months ending June 2025 were $132.9 billion for cash collateral and $145.2 billion for non-cash collateral [4]

Company Overview - Miami International Holdings, Inc. (MIH) is a technology-driven leader in building and operating regulated financial markets across multiple asset classes [1][4] - MIH owns several exchanges including Miami International Securities Exchange, MIAX PEARL, MIAX Emerald, MIAX Sapphire, MIAX Futures Exchange, MIAX Derivatives Exchange, and others [4][5] Initial Public Offering (IPO) Details - MIH has launched a roadshow for its initial public offering of 15,000,000 shares of common stock, with an expected price range of $19 to $21 per share [1] - The underwriters will have a 30-day option to purchase up to an additional 2,250,000 shares [1] - The common stock has been approved for listing on the New York Stock Exchange under the ticker symbol "MIAX" [1] Underwriters - J.P. Morgan, Morgan Stanley, and Piper Sandler are acting as lead joint bookrunning managers for the proposed offering [1] - Additional joint bookrunning managers include Keefe, Bruyette & Woods, Inc., Raymond James, William Blair, and Rosenblatt [1] Regulatory Information - A registration statement on Form S-1 relating to MIH's common stock has been filed with the SEC but has not yet become effective [3] - The shares may not be sold nor may offers to buy be accepted prior to the registration statement becoming effective [3]

Core Points - TMX Group Limited has declared a dividend of $0.22 per common share, marking a 10% increase from the previous dividend of $0.20 [1][2] - This increase represents the fifth dividend hike in three years, indicating the strength of TMX Group's business model and its adaptive global growth strategy [2] - The dividend is payable on August 29, 2025, to shareholders of record as of August 15, 2025 [1] Company Overview - TMX Group operates global markets and provides various services including listing markets, trading markets, clearing facilities, and technology solutions [4] - Key operations include the Toronto Stock Exchange, TSX Venture Exchange, and other financial services across North America and international markets [4] - The company is headquartered in Toronto and has offices in major cities such as Montréal, Calgary, Vancouver, New York, London, Singapore, and Vienna [4]

Core Insights - Intercontinental Exchange (ICE) reported second-quarter 2025 adjusted earnings per share of $1.81, exceeding the Zacks Consensus Estimate by 2.3% and reflecting a year-over-year increase of 19.1% [1][10] - The company achieved record net revenues of $2.5 billion, up 9.8% year over year, and also surpassed the Zacks Consensus Estimate by 0.7% [3][10] - Adjusted operating income rose 13.9% year over year to $1.6 billion, with an adjusted operating margin expansion of 200 basis points to 61% [4][10] Financial Performance - Total operating expenses decreased by 0.4% year over year to $1.3 billion, attributed to lower rent, occupancy, and administrative expenses [3] - Adjusted operating expenses were $983 million, reflecting a 3.8% year-over-year increase, while the adjusted operating income was $1.6 billion [4] - Operating cash flow was reported at $2.5 billion, up 12.1% year over year, and adjusted free cash flow increased by 14.2% to $2 billion [11] Segment Performance - Exchanges' net revenues reached $1.3 billion, a 16% increase year over year, with adjusted operating income of $1.1 billion, up 15.3% [5] - Fixed Income and Data Services revenues were $597 million, a 6% increase year over year, with adjusted operating income rising 2.8% to $261 million [6] - Mortgage Technology revenues increased by 5% to $531 million, with adjusted operating income up 22.1% year over year [7][8] Financial Position - As of June 30, 2025, ICE had cash and cash equivalents of approximately $2.3 billion, a 13.5% increase from December 31, 2024 [9] - Long-term debt stood at $17.3 billion, showing a slight increase from the end of 2024, while total equity rose by 2.9% to $28.5 billion [9] Guidance and Shareholder Returns - For the third quarter of 2025, GAAP operating expenses are expected to be between $1.245 billion and $1.255 billion, with adjusted operating expenses projected between $995 million and $1 billion [12] - ICE repurchased $496 million of its common stock and paid $555 million in dividends in the first half of 2025, with a declared dividend of 48 cents per share for the third quarter [14]

July 31, 2025 1 CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS 2Q25 Earnings Supplement This presentation may contain "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements regarding ICE's business that are not historical facts are forward- looking statements that involve risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in these forward-looking st ...

Coinbase Global is set to report second-quarter earnings after the closing bell Thursday, with traders anticipating a big swing from the crypto exchange's stock. https://t.co/EqfF6BCrFi ...