Van der Moolen Holding N.V. today reported 1st quarter US revenues continue to decline but European revenues sharply up.

Total revenues increased with 9% compared to 4th quarter 2006 to € 40.2 mln in the 1st quarter of 2007. US Q1 revenues decreased 56% to € 7,4 mln compared to € 16,8 mln in Q4. European trading revenues increased 71% to € 32,8 mln in Q1 2007 from € 19,2 mln in Q4.

US revenues declined sharply in the first quarter, mainly due to the full implementation of NYSE Hybrid, decline of NYSE market share and specialist participation rate. We expect no significant change in revenue for our US business during the 2nd quarter.

European trading entities showed a strong revenue growth and exceeded expectation. The strong growth in the European operations was triggered by diversification of financial products we trade as well as excellent trading conditions, both in terms of volume and volatility throughout all European markets we operate in.

Richard den Drijver, CEO of Van der Moolen Holding N.V. says: “Our European operations perform strongly, US operations remain challenging. As reported before, we are reconsidering our business focus in the US. Q1 developments confirm that fundamental changes in our US operations are necessary, a process that I will personally manage from our VDM Headquarters in New York.

Van der Moolen N.V. will release its full Q1 results at May 16.