Britain’s NEX Group says first-quarter revenue rose 7 pct

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(Reuters) – British financial technology company and electronic broker NEX Group (NXGN.L) reported a 7 percent rise in first quarter revenue on a constant currency basis.

The company, set to be taken over by U.S. exchange operator CME Group (CME.O) in the second half of 2018, pointed to some periods of increased volatility on financial markets as driving revenues.

“We’ve seen a solid start to the year with episodic volatility driving volumes across the EBS and BrokerTec platforms and increased demand for our products and services,” Chief Executive Officer Michael Spencer said in a statement.

Reporting by Noor Zainab Hussain in Bengaluru

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