Attached files
 ICS
Key Segment Revenue Stats $ in millions
RC= Recurring
ED= Event-Driven
Exhibit 99.3
Fee Revenues
(1)
3Q09
3Q10
Type
Proxy
Equities
28.8
$
28.3
$
RC
Stock Record Position Growth
2%
-4%
Pieces
25.7
27.2
Mutual Funds
9.8
$
21.7
$
ED
Pieces
13.9
28.2
Contests/Specials
4.7
$
4.4
$
ED
Pieces
6.7
6.4
Total Proxy
43.3
$
54.4
$
Total Pieces
46.3
61.8
Notice and Access Opt-in %
63%
61%
Suppression %
49%
46%
Interims
Mutual Funds
(Annual/Semi-Annual Reports/Annual Prospectuses)
22.7
$
26.2
$
RC
Position Growth
1%
9%
Pieces
122.0
135.6
Mutual Funds
(Supplemental Prospectuses) & Other
20.2
$
16.0
$
ED
Pieces
127.0
96.4
Total Interims
42.9
$
42.2
$
Total Pieces
249.0
232.0
Transaction
Transaction Reporting
37.4
$
42.3
$
RC
Reporting
Fulfillment
Post-Sale Fulfillment
17.8
$
18.6
$
RC
Pre-Sale Fulfillment
8.7
$
9.0
$
ED
Total Fulfillment
26.5
$
27.6
$
Other
Other -
Recurring
-
$
3.0
$
RC
Communications
Other -
Event-Driven
(2)
11.2
$
12.0
$
ED
Total Other
11.2
$
15.0
$
Total Fee Revenues
161.3
$
181.5
$
Total Distribution Revenues
173.4
$
175.0
$
Total Revenues as reported -
GAAP
334.7
$
356.5
$
Total RC Fees
106.7
$
118.4
$
Total ED Fees
54.6
$
63.1
$
FY10 Ranges
Low
High
Sales
2%
4%
3%
3%
Losses
0%
-1%
-1%
-1%
Key
Net New Business
2%
3%
2%
2%
Revenue
Internal growth
0%
0%
0%
0%
Drivers
Event-Driven
0%
2%
5%
5%
Acquisitions
0%
1%
1%
1%
Distribution
-4%
1%
1%
2%
TOTAL
-2%
7%
9%
10%
(1) As of 3Q10, these items represent fee revenues only and exclude distribution revenues which are set
out separately. The historical numbers have been adjusted to exclude distribution revenues
(2) Other includes 4.7M pieces for 3Q09 and 3.3M pieces for 3Q10 primarily related to corporate actions
30 |
 SPS
and
Outsourcing
Key
Segment
Revenue
Stats
$ in millions
RC= Recurring
ED= Event-Driven
vv
3Q09
3Q10
Type
Equity
Transaction-Based
Equity Trades
60.6
$
57.6
$
RC
Internal Trade Volume
(1)
1,512
1,516
Internal Trade Growth
2%
0%
Trade Volume (Average Trades per Day in '000)
(2) (3)
1,555
1,556
Non-Transaction
Other Equity Services
50.3
$
51.5
$
RC
Total Equity
110.9
$
109.1
$
Fixed Income
Transaction-Based
Fixed Income Trades
12.0
$
11.9
$
RC
Internal Trade Volume
(1)
296
277
Internal Trade Growth
2%
-7%
Trade Volume (Average Trades per Day in '000)
(3)
296
279
Non-Transaction
Other Fixed Income Services
7.2
$
6.5
$
RC
Total Fixed Income
19.2
$
18.3
$
Outsourcing
Outsourcing
6.2
$
6.2
$
RC
# of Clients
6
7
Total Net Revenue as reported -
GAAP
136.3
$
133.6
$
FY10 Ranges
Low
High
Sales
7%
6%
5%
6%
Losses
-5%
-4%
-4%
-4%
Key
Net New Business
2%
2%
1%
2%
Revenue
Transaction & Non-transaction
4%
-2%
-3%
-3%
Drivers
Concessions
-5%
-2%
-4%
-4%
Internal growth
-1%
-4%
-7%
-7%
Acquisitions
1%
0%
1%
0%
TOTAL
2%
-2%
-5%
-5%
(1) 3Q09 Internal Trade Volume previously was reported as 1,470 and 249 for Equities and Fixed Income,
respectively. These numbers were adjusted to reflect Losses and Sales in order to present
consistent business for the purpose of calculating internal trade growth (2) Equity Trade
volume adjusted to exclude trades processed under fixed priced contracts. Management believes excluding this trade volume presents a stronger correlation between
trade volume and Equity Trade revenue
(3) Prior Year's trade volume was re-stated for comparability
31 |