Duncan Niederauer, the chief executive of NYSE Euronext, hailed the "excellent foundation" set by the exchange group during the third quarter for its $10 billion takeover by rival operator the IntercontinentalExchange.

The Big Board operator this morning reported a 65% year-on-year increase in its third quarter net income, to $178 million. Total revenues fell slightly, from $902 million to $890 million, but cost-cutting efforts and a £5 million gain on the sale of the exchange's 12% stake in the Qatar Exchange helped to boost group profits.