Nasdaq cans 24-hour trading

Losing more than enough in just 12 hours...

Losing more than enough in just 12 hours...

US technology exchange Nasdaq is canning its joint venture with Nasdaq Japan to provide a 24-hour global trading service. The exchange will write off costs of £13m as a result of the cancellation. The news came at Nasdaq's result meeting where it announced a 55 per cent fall in profits to $8.8m from $19.6m for the same period last year. Revenues were down too - from $221.3m for the second quarter of last year to $205.3m this year.