NYSE Euronext saw Q1 profits fall by 32 per cent to $121m and revenue fall 17 per cent to $952m.

The stock exchange operator said derivatives trading dropped in London by 28% and share trading volumes also fell.

"Our first quarter results reflect the challenging operating environment which carried over into 2012 and will continue to result in near-term headwinds," said Duncan Niederauer, Chief Executive of NYSE Euronext.

NYSE was forced to drop a planned merger with Deutsche Borse in February after the European Commission objected on competition grounds. This failed merger cost the company $36m.

Other operating expenses, excluding merger expenses and exit costs, were $405 million in the first quarter of 2012, down $10 million, or 2% compared to the first quarter of 2011. Excluding the impact of new business initiatives (“NBIs”) and a $5 million positive impact attributable to foreign currency fluctuations, other operating expenses were down $12 million, or 3%, compared to the first quarter of 2011. Operating income, excluding merger expenses and exit costs was $196m, down $68m compared to the Q1 in 2011.

NYSE Euronext is building out its colocation business across the world through a fleet of Liquidity Centers and a growing service portfolio.