Virt-X, the pan-European blue chip exchange, has reported its first profit since it was formed in 2001 from the merger of the Swiss Exchanges and Tradepoint.

The exchange reported a profit of £2.6m (€4.1m) for the first half of 2002 compared with a loss of £4.2m for the six months to September 2001, which included the final three months of Tradepoint and the first three months of Virt-X.