Nasdaq quarterly profit rises as trading volumes surge

(Reuters) -Nasdaq's profit rose in the third quarter, the exchange operator said on Tuesday, as persistent market volatility from macroeconomic and U.S. policy uncertainty boosted trading volumes. Traders actively shuffled their portfolios to navigate the Trump administration's uncertain trade policies and growth concerns, boosting volumes for the exchange's U.S. equity options contracts, as well as cash equities. The company's market services revenue from trading grew 14% to $303 million. That aligns with robust results reported by trading desks across major U.S. banks like JPMorgan Chase, Goldman Sachs and Citigroup last week. AI-fueled corporate earnings and lower rates also fueled U.S. indices to record highs. The company reported an adjusted profit of $511 million, or 88 cents per share, for the three months ended September 30, up from $429 million, or 74 cents per share, a year earlier. (Reporting by Ateev Bhandari in Bengaluru; Editing by Sriraj Kalluvila)

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