Regulatory Filings • Oct 9, 2013
Regulatory Filings
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Global Derivatives ADV Down Year-over-Year but Up Sequentially European and U.S. Cash Equities ADV Down Year-over-Year but Up Sequentially
October 9, 2013 – NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for September 20131 . Global derivatives average daily volume ("ADV") of 6.5 million contracts, excluding Bclear in September 2013 decreased 7.5% compared to September 2012, but increased 12.7% from August 2013. U.S. equity options volumes in September 2013 decreased 11.7% compared to September 2012, but increased 8.8% sequentially. ADV in U.S. cash equities declined 9.3% year-over-year, but increased 13.1% month-over-month. European cash equities ADV in September 2013 decreased 5.8% compared to September 2012, but increased 4.8% from August 2013 levels.
1 All NYSE Euronext derivatives transactions count buy and sell orders together as a single transaction. NYSE Euronext European equities transactions count each buy and sell order as separate transactions, NYSE Euronext U.S. equities transactions count buy and sell orders together as a single transaction.
2012, but increased 13.1% compared to August 2013. NYSE Euronext's Tape A matched market share in September 2013 was 31.3%, up from 31.1% in September 2012 and up from 30.7% in August 2013.
• The preliminary average net revenue per transaction type (as defined below) for each of the primary trading venues in the third quarter of 2013 is included below:
| c Trading Venue |
3Q12 | 2Q13 | Preliminary 3Q13 |
|---|---|---|---|
| 1 European Derivatives (ex. Bclear) |
\$0.657 | \$0.610 | \$0.63 |
| 2 U.S. Derivatives |
\$0.144 | \$0.156 | \$0.16 |
| 3 European Cash |
\$0.537 | \$0.562 | \$0.54 |
| 4 U.S. Cash |
\$0.040 | \$0.047 | \$0.048 |
1 Average net revenue per contract, excluding Bclear.
2 Average net revenue per contract. Excludes NYSE Liffe U.S. trading volum e.
3 Average net revenue per transaction.
4 Average net revenue per 100 shares handled.
• The average EUR/USD exchange rate for the third quarter of 2013 of \$1.33 represented an increase of 1.5% from the second quarter of 2013 and an increase of 5.8% compared to the third quarter of 2012. The average GBP/USD exchange rate for the third quarter of 2013 of \$1.55 represented a decrease of 1.0% from the second quarter of 2013 and a decrease of 1.9% compared to the third quarter of 2012.
Please click here for the Monthly Transaction Activity Data Table.
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets - the New York Stock Exchange, NYSE Euronext, NYSE MKT, NYSE Alternext and NYSE Arca - represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index. For more information, please visit: http://www.nyx.com.
This written communication contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as "may," "hope," "will," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential," "continue," "could," "future" or the negative of those terms or other words of similar meaning. You should carefully read forward-looking statements, including statements that contain these
words, because they discuss our future expectations or state other "forward-looking" information. Forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time. ICE Group, ICE and NYSE Euronext caution readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement.
Forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving ICE Group, ICE and NYSE Euronext, including future financial results, ICE's and NYSE Euronext's plans, objectives, expectations and intentions, the expected timing of completion of the transaction and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in ICE's and NYSE Euronext's filings with the U.S. Securities and Exchange Commission (the "SEC"). These risks and uncertainties include, without limitation, the following: the inability to close the merger in a timely manner; the failure to satisfy other conditions to completion of the merger, including receipt of required regulatory and other approvals; the failure of the proposed transaction to close for any other reason; the possibility that any of the anticipated benefits of the proposed transaction will not be realized; the risk that integration of NYSE Euronext's operations with those of ICE will be materially delayed or will be more costly or difficult than expected; the challenges of integrating and retaining key employees; the effect of the announcement of the transaction on ICE's, NYSE Euronext's or the combined company's respective business relationships, operating results and business generally; the possibility that the anticipated synergies and cost savings of the merger will not be realized, or will not be realized within the expected time period; the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; general competitive, economic, political and market conditions and fluctuations; actions taken or conditions imposed by the United States and foreign governments or regulatory authorities; and adverse outcomes of pending or threatened litigation or government investigations. In addition, you should carefully consider the risks and uncertainties and other factors that may affect future results of the combined company, as are described in the section entitled "Risk Factors" in the joint proxy statement/prospectus filed by ICE Group with the SEC, and as described in ICE's and NYSE Euronext's respective filings with the SEC that are available on the SEC's web site located at www.sec.gov, including the sections entitled "Risk Factors" in ICE's Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 6, 2013, and "Risk Factors" in NYSE Euronext's Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 26, 2013. You should not place undue reliance on forward-looking statements, which speak only as of the date of this written communication. Except for any obligations to disclose material information under the Federal securities laws, ICE Group, ICE and NYSE Euronext undertake no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this written communication.
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction, ICE Group has filed with the SEC a registration statement on Form S−4, which the SEC has declared effective and which contains a joint proxy statement/prospectus with respect to the proposed acquisition of NYSE Euronext by ICE Group. The final joint proxy
statement/prospectus has been delivered to the stockholders of ICE and NYSE Euronext. INVESTORS AND SECURITY HOLDERS OF BOTH ICE AND NYSE EURONEXT ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION CAREFULLY AND IN ITS ENTIRETY, INCLUDING ANY DOCUMENTS PREVIOUSLY FILED WITH THE SEC AND INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE IT CONTAINS IMPORTANT INFORMATION REGARDING ICE, NYSE EURONEXT AND THE PROPOSED TRANSACTION. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus, as well as other filings containing information about ICE and NYSE Euronext, without charge, at the SEC's website at http://www.sec.gov. Investors may also obtain these documents, without charge, from ICE's website at http://www.theice.com and from NYSE Euronext's website at http://www.nyx.com.
| Average Daily Volume | Total Volume | Average Daily Volume | Total Volume | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| % Chg vs. | % Chg vs. | ||||||||||
| (Unaudited; contracts in thousands) | sept-13 | sept-12 | % Chg | sept-13 | sept-12 | % Chg | YTD 2013 | YTD 2012 | YTD 2013 | YTD 2012 | |
| Number of Trading Days - European Cash Number of Trading Days - European Derivatives Number of Trading Days - U.S. Markets |
21 21 20 |
20 20 19 |
21 21 20 |
20 20 19 |
191 192 188 |
191 192 188 |
|||||
| European Derivatives Products of which Bclear |
3 164 333 |
3 455 | -8,4% 584 -43,1% |
66 435 6 986 |
69 105 | -3,9% 11 685 -40,2% |
3 882 688 |
2,7% -36,0% |
745 379 132 099 |
2,2% -36,3% |
|
| Total Fixed Income Products | 2 033 | 1 998 | 1,8% | 42 700 | 39 965 | 6,8% | 2 385 | 31,2% | 457 895 | 30,5% | |
| Short Term Interest Rate Products | 1 884 | 1 841 | 2,3% | 39 567 | 36 828 | 7,4% | 2 207 | 32,4% | 423 839 | 31,7% | |
| Medium and Long Term Interest Rate Products 1 | 149 | 157 | -4,9% | 3 134 | 3 138 | -0,1% | 177 | 17,7% | 34 056 | 17,1% | |
| Total Equity Products 2 | 1 037 | 1 363 -23,9% | 21 780 | 27 261 -20,1% | 1 405 | -25,1% | 269 845 | -25,4% | |||
| Individual Equity Products | 522 | 814 -36,0% | 10 952 | 16 288 -32,8% | 907 | -34,7% | 174 114 | -35,0% | |||
| Futures | 127 | 395 -67,9% | 2 658 | 7 895 -66,3% | 513 | -44,8% | 98 557 | -45,1% | |||
| Options Equity Index Products |
395 516 |
420 549 |
-5,9% -6,0% |
8 294 10 828 |
8 393 10 972 |
-1,2% -1,3% |
394 499 |
-14,1% 2,2% |
75 557 95 731 |
-14,6% 1,7% |
|
| of which Bclear Individual Equity Products |
331 220 |
584 -43,4% 456 -51,6% |
6 950 4 629 |
11 685 -40,5% 9 118 -49,2% |
687 587 |
-36,1% -41,3% |
131 846 112 792 |
-36,4% -41,6% |
|||
| Futures | 122 | 382 -68,2% | 2 558 | 7 650 -66,6% | 500 | -44,7% | 96 001 | -45,0% | |||
| Options | 99 | 73 | 34,3% | 2 071 | 1 469 | 41,0% | 87 | -8,8% | 16 791 | -9,3% | |
| Equity Index Products | 111 | 128 -13,9% | 2 321 | 2 567 | -9,6% | 99 | 33,2% | 19 054 | 32,5% | ||
| Commodity Products | 93 | 94 | -0,9% | 1 955 | 1 879 | 4,0% | 92 | 5,8% | 17 639 | 5,2% | |
| U.S. Derivatives Products | |||||||||||
| Equity Options 3 | |||||||||||
| NYSE Euronext Options Contracts Total Consolidated Options Contracts |
3 641 14 292 |
15 863 | 4 122 -11,7% -9,9% |
72 828 285 832 301 402 |
78 318 | -7,0% -5,2% |
4 036 14 826 |
4,6% -0,2% |
758 723 2 787 252 |
4,6% -0,2% |
|
| NYSE Group Share of Total | 25,5% | 26,0% | 25,5% | 26,0% | 27,2% | 1,2% | 27,2% | 1,2% | |||
| NYSE Liffe U.S. | |||||||||||
| Futures and Futures Options Volume* | 73,7 | 83,7 -11,9% | 1 548 | 1 673 | -7,5% | 55,9 | -28,9% | 10 796,0 | -28,9% | ||
| European Cash Products (trades in thousands) | 1 343 | 1 426 | -5,8% | 28 206 | 28 530 | -1,1% | 1 395 | -9,1% | 266 371 | -9,6% | |
| Equities | 1 300 | 1 377 | -5,6% | 27 292 | 27 533 | -0,9% | 1 346 | -9,3% | 257 036 | -9,8% | |
| Exchange-Traded Funds | 13 | 14 | -7,3% | 267 | 274 | -2,7% | 14 | -0,8% | 2 616 | -1,3% | |
| Structured Products | 27 | 30 | -12,3% | 559 | 607 | -7,9% | 30 | -4,6% | 5 810 | -5,1% | |
| Bonds | 4 | 6 | -27,4% | 88 | 116 -23,8% | 5 | -6,2% | 910 | -6,7% | ||
| U.S. Cash Products (shares in millions) 5 | 1 514 | 1 669 | -9,3% | 30 286 | 31 720 | -4,5% | 1 528 | -11,7% | 287 177 | -11,7% | |
| NYSE Listed (Tape A) Issues 4 | |||||||||||
| Handled Volume 5 Matched Volume 6 |
1 085 | 1 218 | -11,0% | 21 693 | 23 146 | -6,3% | 1 092 | -11,7% | 205 310 | -11,7% | |
| Total NYSE Listed Consolidated Volume | 1 051 3 361 |
1 160 3 730 |
-9,4% -9,9% |
21 021 67 212 |
22 034 70 866 |
-4,6% -5,2% |
1 053 3 442 |
-10,2% -8,0% |
197 956 647 161 |
-10,2% -8,0% |
|
| Share of Total Consolidated Volume | |||||||||||
| Handled Volume 5 | 32,3% | 32,7% | -0,4% | 32,3% | 32,7% | -0,4% | 31,7% | -1,3% | 31,7% | -1,3% | |
| Matched Volume 6 | 31,3% | 31,1% | 0,2% | 31,3% | 31,1% | 0,2% | 30,6% | -0,8% | 30,6% | -0,8% | |
| NYSE Arca, MKT and Regional (Tape B) Listed Issues | |||||||||||
| Handled Volume 5 | 262 | 241 | 8,8% | 5 248 | 4 583 | 14,5% | 251 | -1,7% | 47 194 | -1,7% | |
| Matched Volume 6 | 243 | 219 | 11,1% | 4 868 | 4 161 | 17,0% | 231 | 0,6% | 43 514 | 0,6% | |
| Total NYSE Arca & MKT Listed Consolidated Volume | 1 067 | 1 048 | 1,7% | 21 331 | 19 919 | 7,1% | 1 091 | 0,8% | 205 192 | 0,8% | |
| Share of Total Consolidated Volume Handled Volume 5 |
24,6% | 23,0% | 1,6% | 24,6% | 23,0% | 1,6% | 23,0% | -0,6% | 23,0% | -0,6% | |
| Matched Volume 6 | 22,8% | 20,9% | 1,9% | 22,8% | 20,9% | 1,9% | 21,2% | 0,0% | 21,2% | 0,0% | |
| Nasdaq Listed (Tape C) Issues | |||||||||||
| Handled Volume 5 | 167 | 210 | -20,4% | 3 345 | 3 991 | -16,2% | 184 | -22,1% | 34 673 | -22,1% | |
| Matched Volume 6 | 148 | 181 | -18,5% | 2 955 | 3 443 | -14,2% | 165 | -18,7% | 30 946 | -18,7% | |
| Total Nasdaq Listed Consolidated Volume | 1 764 | 1 796 | -1,8% | 35 271 | 34 117 | 3,4% | 1 743 | -0,6% | 327 665 | -0,6% | |
| Share of Total Consolidated Volume Handled Volume 5 |
|||||||||||
| Matched Volume 6 | 9,5% 8,4% |
11,7% 10,1% |
-2,2% -1,7% |
9,5% 8,4% |
11,7% 10,1% |
-2,2% -1,7% |
10,6% 9,4% |
-2,9% -2,2% |
10,6% 9,4% |
-2,9% -2,2% |
|
| Exchange-Traded Products 5,7 | |||||||||||
| Handled Volume 5 | |||||||||||
| Matched Volume 6 | 239 221 |
220 200 |
8,4% 10,6% |
4 771 4 421 |
4 181 3 796 |
14,1% 16,4% |
235 216 |
-2,0% 0,5% |
44 093 40 645 |
-2,0% 0,5% |
|
| Total ETF Consolidated Volume | 997 | 987 | 1,0% | 19 944 | 18 758 | 6,3% | 1 044 | -0,2% | 196 288 | -0,2% | |
| Share of Total Consolidated Volume | |||||||||||
| Handled Volume 5 | 23,9% | 22,3% | 1,6% | 23,9% | 22,3% | 1,6% | 22,5% | -0,4% | 22,5% | -0,4% | |
| Matched Volume 6 | 22,2% | 20,2% | 2,0% | 22,2% | 20,2% | 2,0% | 20,7% | 0,1% | 20,7% | 0,1% |
1 Data includes currency products.
2 Includes all trading activities for Bclear, NYSE Liffe's clearing service for wholesale derivatives.
3 Includes trading in U.S. equity options contracts, not equity-index options.
4 Includes all volume executed in NYSE Group crossing sessions.
5 Represents the total number of shares of equity securities and ETFs internally matched on the NYSE Group's exchanges or routed to
6 Represents the total number of shares of equity securities and ETFs executed on the NYSE Group's exchanges. and executed at an external market center. NYSE Arca routing includes odd-lots.
7 Data included in previously identified categories.
* ADVs calculated with the appropriate number of NYSE Liffe U.S. trading days.
Source: NYSE Euronext, Options Clearing Corporation and Consolidated Tape as reported for equity securities.
All trading activity is single-counted, except European cash trading which is double counted to include both buys and sells.
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