* Deutsche Boerse Q3 EBIT 245.4 mln eur
* Q3 net income 159.9 mln eur
* Q3 net revenue 471 mln eur
* Abandons FY EBIT, revenue targets because of lower volatility
FRANKFURT, Oct 29 (Reuters) - German exchange operator Deutsche Boerse abandoned its 2012 revenue and profit targets as lower market volatility caused a slump in third-quarter trading.
The operator of the Frankfurt Stock Exchange and the Eurex derivatives exchange said the company now expects full-year 2012 net revenue of around 1.95 billion euros, well below the initial target range of between 2.15 billion euros to 2.3 billion euros.
"In the prior-year period, market participants had entered into more hedges than usual and regrouped their portfolios more frequently due to substantial volatility connected with the turbulence in the euro zone and the downgrade of the US credit rating," the company said.
Net revenue fell to 471 million euros in the third quarter, down from the 578.6 million in the year-earlier period.
For 2013 the company said it was "well positioned" to generate higher net revenue than in 2012, but weak trading in October would nonetheless "negatively impact" its full-year forecast of achieving earnings before interest and taxes (EBIT) in the range of 1.2 billion euros to 1.35 billion euros.
In July, Deutsche Boerse signalled it may have to abandon its full-year revenue target.
Third-quarter EBIT fell to 245.4 million euros from 333 million euros in the same period a year earlier, but broadly in line with the 247 million euros forecast in a Reuters poll.