Nasdaq lost $49m (€43m) in the second quarter thanks to high costs of closing failed businesses outside the US combined with a sharp drop in revenues.

Nasdaq recorded its first loss in six quarters after setting aside nearly $60m to cover costs of closing international businesses including Nasdaq Europe. Robert Greifeld, who took over the exchange in June, decided almost immediately to focus on the US market. More than $20m is to cover severance pay packages as Nasdaq made 129 staff redundant.