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Hellenic Exchanges S.A. has announced that the first quarter of 2016 has resulted in €1.9 million ($2.1 million) in after tax profits. The result is starkly different from the first quarter of 2015, when the profits of the Athens Exchange Group totaled €4.1 million ($4.6 million).
The 54 per cent decline year-on-year is a direct result of declining turnover. After the introduction of capital controls in Greece in June 2015, trading activity and the capitalization of the cash market in the country have significantly declined.
According to the earnings report, the average daily traded value (ADTV) of securities amounted to €71.7 million ... (read more)