National & World Ag News Headlines CME Group Report Lower Quarterly Income USAgNet - 05/01/2012 CME Group Inc. reported first-quarter 2012 revenues of $775 million and operating income of $451 million. First-quarter net income attributable to CME Group was $267 million and diluted earnings per share were $4.02. "During the first quarter, global trading volumes were impacted by low levels of volatility, particularly in financial instruments," said CME Group Executive Chairman Terry Duffy. "The uncertainty about market direction has led to a greater focus on the release of economic data that measures the overall health of the economy. While concerns remain, there are some positive signs that an improving economy would bode well for our product set as the trading community responds to better news." First-quarter 2012 average daily volume was 12.3 million contracts, up 5 percent from fourth-quarter 2011, but down 11 percent compared with 13.8 million contracts during the first quarter of 2011. Average daily volume in first-quarter 2011 was exceptionally strong driven by the impact of significant unrest in the Middle East and a natural disaster in Japan. Clearing and transaction fee revenues of $621 million were up 4 percent from fourth-quarter 2011, but down 10 percent from the strong first quarter in 2011. First-quarter market data and information services revenue was $114 million, up 8 percent from fourth-quarter 2011 and up 7 percent compared with the same quarter last year. First-quarter total average rate per contract was 81.1 cents, in line with fourth-quarter 2011, and up slightly from first-quarter 2011. First-quarter 2012 operating expense was $323 million, up 5 percent from first-quarter 2011, and down 7 percent sequentially. During the first quarter the effective tax rate was 38.6 percent, which included a one-time adjustment. The company expects the effective tax rate to be 41 percent for the remaining quarters of the year, representing the lower end of the original guidance range. As of March 31, the company had $1.1 billion of cash and marketable securities and $2.1 billion of long-term debt. Send this article to a friend Other National Headlines Stricter Country-of-Origin Labels on Meat Imposed Senate Farm Bill Floor Consideration Begins House Ag Holds First Hearing in Process of CFTC Reauthorization Global Seed Treatment Market to Reach $4.45 Billion by 2018 Monsanto Launches Online Insect Forecasting Tool Johanns Offers, Cosponsors Amendments to Improve Farm Bill Wisconsin Raw Milk Trial to Continue into Next Week Copyright © 2013 - USAgNet.com. All Rights Reserved.