Regulatory Filings • May 9, 2011
Regulatory Filings
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Global Derivatives ADV in April Declines to 8.8 Million Contracts; Spike in Trading Volumes in Prior Year Driven by Sovereign Debt Crisis in Europe; Down only 2% Compared to Strong 1Q11 NYSE Liffe U.S. ADV Up Over 300% on Trading in New Products European Cash Trading Volumes Down 4%, U.S. Cash Down 31%
May 9, 2011 – NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for April 2011 1 . Global derivatives average daily volume ("ADV") of 8.8 million contracts traded per day in April 2011 decreased 18.5% versus the prior year, which benefited from un-seasonally strong trading volumes due to heightened market volatility driven by the sovereign debt crisis in Europe. April 2010 was the second highest level of derivatives monthly trading volume in 2010, second only to May 2010. When compared to the strong first quarter of 2011, Global Derivatives trading volumes in April 2011 are down only 2.4%. Cash equities ADV in April 2011 declined across all venues, with European cash ADV decreasing 3.9% and U.S. cash trading volumes decreasing 30.8% from April 2010 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.
The increase compared to both periods was driven by the launch of Eurodollar and U.S. Treasury futures on March 21 and March 28, respectively.
European Derivatives
U.S. Derivatives
NYSE Euronext U.S. equity options (NYSE Arca and NYSE Amex) ADV of 4.0 million contracts in April 2011 decreased 0.3% compared to April 2010 and decreased 7.6%
compared to March 2011. Year-to-date, U.S. equity options ADV of 4.3 million contracts was 13.7% above prior year levels.
European Cash
U.S. Cash
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 Amex, 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, and is the only exchange operator in the Fortune 500. For more information, please visit: http://www.nyx.com.
In connection with the proposed business combination transaction between NYSE Euronext and Deutsche Boerse AG, Alpha Beta Netherlands Holding N.V. ("Holding"), a newly formed holding company, has filed, and the SEC has declared effective on May 3, 2011, a Registration Statement on Form F-4 with the U.S. Securities and Exchange Commission ("SEC") that includes (1) a proxy
statement of NYSE Euronext that will also constitute a prospectus for Holding and (2) an offering prospectus of Holding to be used in connection with Holding's offer to acquire Deutsche Boerse AG shares held by U.S. holders. NYSE Euronext will mail the definitive proxy statement/prospectus (when finalized) to its stockholders in connection with the vote to approve the merger of NYSE Euronext and a wholly owned subsidiary of Holding, and Holding will mail the offering prospectus to Deutsche Boerse AG shareholders in the United States in connection with Holding's offer to acquire all of the outstanding shares of Deutsche Boerse AG. Holding has also filed an offer document with the German Federal Financial Supervisory Authority (Bundesanstalt fuer Finanzdienstleistungsaufsicht) ("BaFin"), which was approved by the BaFin for publication pursuant to the German Takeover Act (Wertpapiererwerbs-und Übernahmegesetz) on May 2, 2011, and was published on May 4, 2011.
Investors and security holders are urged to read the definitive proxy statement/prospectus (when it becomes available), the offering prospectus and the offer document regarding the proposed business combination transaction because they contain important information. You may obtain a free copy of the definitive proxy statement/prospectus (when it becomes available), the offering prospectus and other related documents filed by NYSE Euronext and Holding with the SEC on the SEC's Web site at www.sec.gov. The definitive proxy statement/prospectus (when it becomes available) and other documents relating thereto may also be obtained for free by accessing NYSE Euronext's Web site at www.nyse.com. The offer document is available at Holding's Web site at www.global-exchange-operator.com.
This document is neither an offer to purchase nor a solicitation of an offer to sell shares of Holding, Deutsche Boerse AG or NYSE Euronext. The final terms and further provisions regarding the public offer are disclosed in the offer document that has been approved by the BaFin and in documents that have been filed with the SEC.
No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and applicable European regulations. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer is not being made directly or indirectly in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction.
This announcement and related materials do not constitute in France an offer for ordinary shares in Holding. The relevant final terms of the proposed business combination transaction will be disclosed in the information documents reviewed by the competent European market authorities.
NYSE Euronext, Deutsche Boerse AG, Holding and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from NYSE Euronext stockholders in respect of the proposed business combination transaction. Additional information regarding the interests of such potential participants will be included in the definitive proxy statement/prospectus and the other relevant documents filed with the SEC when they become available.
This document includes forward-looking statements about NYSE Euronext, Deutsche Boerse AG, Holding, the enlarged group and other persons, which may include statements about the proposed business combination, the likelihood that such transaction could be consummated, the effects of any transaction on the businesses of NYSE Euronext or Deutsche Boerse AG, and other statements that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance and actual results of operations, financial condition and liquidity, and the development of the industries in which NYSE Euronext and Deutsche Boerse AG operate may differ materially from those made in or suggested by the forward-looking statements contained in this document. Any forward-looking statements speak only as at the date of this document. Except as required by applicable law, none of NYSE Euronext, Deutsche Boerse AG or Holding undertakes any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
| Average Daily Volume | Total Volume | Average Daily Volume | Total Volume | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| % Chg vs. | % Chg vs. | |||||||||
| (Unaudited; contracts in thousands) | avr-11 | avr-10 | % Chg | avr-11 | avr-10 | % Chg | YTD 2011 | YTD 2010 | YTD 2011 | YTD 2010 |
| Number of Trading Days - European Markets Number of Trading Days - U.S. Markets |
19 20 |
20 21 |
19 20 |
20 21 |
83 82 |
83 82 |
||||
| European Derivatives Products | 4 721 | 6 790 | -30,5% | 89 699 | 135 805 | -34,0% | 4 653 | -12,5% | 386 228 | -12,5% |
| of which Bclear | 1 842 | 2 850 | -35,4% | 34 990 | 56 995 | -38,6% | 1 016 | -28,7% | 84 325 | -28,7% |
| Total Fixed Income Products | 1 929 | 2 753 | -29,9% | 36 659 | 55 056 | -33,4% | 2 524 | -7,3% | 209 451 | -7,3% |
| Short Term Interest Rate Products | 1 817 | 2 654 | -31,6% | 34 516 | 53 089 | -35,0% | 2 396 | -8,1% | 198 887 | -8,1% |
| Medium and Long Term Interest Rate Products 1 | 113 | 98 | 14,6% | 2 143 | 1 968 | 8,9% | 127 | 12,7% | 10 563 | 12,7% |
| Total Equity Products 2 | 2 714 | 3 980 | -31,8% | 51 570 | 79 599 | -35,2% | 2 044 | -19,6% | 169 680 | -19,6% |
| Individual Equity Products | 2 254 | 3 385 | -33,4% | 42 828 | 67 703 | -36,7% | 1 492 | -22,6% | 123 839 | -22,6% |
| Futures | 1 756 | 2 587 | -32,1% | 33 369 | 51 747 | -35,5% | 845 | -28,0% | 70 146 | -28,0% |
| Options Equity Index Products |
498 460 |
798 595 |
-37,6% -22,6% |
9 459 8 742 |
15 956 11 896 |
-40,7% -26,5% |
647 552 |
-14,2% -10,2% |
53 693 45 841 |
-14,2% -10,2% |
| of which Bclear | 1 842 | 2 850 | -35,4% | 34 990 | 56 995 | -38,6% | 1 016 | -28,7% | 84 325 | -28,7% |
| Individual Equity Products Futures |
1 785 1 701 |
2 763 2 587 |
-35,4% -34,3% |
33 914 32 319 |
55 266 51 745 |
-38,6% -37,5% |
941 828 |
-28,3% -29,4% |
78 066 68 757 |
-28,3% -29,4% |
| Options | 84 | 176 | -52,3% | 1 594 | 3 522 | -54,7% | 112 | -19,1% | 9 310 | -19,1% |
| Equity Index Products | 57 | 86 | -34,5% | 1 076 | 1 729 | -37,8% | 75 | -32,9% | 6 259 | -32,9% |
| Commodity Products | 77 | 57 | 34,7% | 1 470 | 1 149 | 27,9% | 86 | 60,5% | 7 097 | 60,5% |
| U.S. Derivatives Products | ||||||||||
| Equity Options 3 | ||||||||||
| NYSE Euronext Options Contracts | 4 034 | 4 047 | -0,3% | 80 687 | 84 984 | -5,1% | 4 319 | 13,7% | 354 119 | 13,7% |
| Total Consolidated Options Contracts | 15 705 | 15 941 | -1,5% | 314 103 | 334 758 | -6,2% | 16 915 | 16,8% | 1 387 064 | 16,8% |
| NYSE Group Share of Total | 25,7% | 25,4% | 25,7% | 25,4% | 25,5% | -0,7% | 25,5% | -0,7% | ||
| NYSE Liffe U.S. | ||||||||||
| Futures and Futures Options Volume | 91,7 | 18,8 387,4% | 1 834 | 395 364,2% | 38,8 | 91,3% | 3 181,4 | 91,3% | ||
| European Cash Products (trades in thousands) | 1 519 | 1 580 | -3,9% | 28 860 | 31 602 | -8,7% | 1 738 | 22,4% | 144 237 | 22,4% |
| Equities | 1 461 | 1 520 | -3,9% | 27 757 | 30 394 | -8,7% | 1 670 | 22,6% | 138 597 | 22,6% |
| Exchange-Traded Funds | 16 | 18 -12,8% | 302 | 364 -17,2% | 19 | 17,6% | 1 618 | 17,6% | ||
| Structured Products Bonds |
37 5 |
36 | 2,6% 6 -14,7% |
697 104 |
715 | -2,5% 128 -19,0% |
43 5 |
26,1% -14,6% |
3 571 451 |
26,1% -14,6% |
| U.S. Cash Products (shares in millions) 5 | 1 982 | 2 862 | -30,8% | 39 637 | 60 105 | -34,1% | 2 230 | -15,0% | 182 820 | -15,0% |
| NYSE Listed (Tape A) Issues 4 | ||||||||||
| Handled Volume 5 | ||||||||||
| Matched Volume 6 | 1 409 1 330 |
2 129 1 978 |
-33,8% -32,7% |
28 179 26 610 |
44 706 41 537 |
-37,0% -35,9% |
1 605 1 517 |
-15,6% -14,0% |
131 577 124 415 |
-15,6% -14,0% |
| Total NYSE Listed Consolidated Volume | 3 995 | 5 796 | -31,1% | 79 902 | 121 721 | -34,4% | 4 428 | -13,2% | 363 114 | -13,2% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 | 35,3% | 36,7% | -1,4% | 35,3% | 36,7% | -1,4% | 36,2% | -1,0% | 36,2% | -1,1% |
| Matched Volume 6 | 33,3% | 34,1% | -0,8% | 33,3% | 34,1% | -0,8% | 34,3% | -0,3% | 34,3% | -0,3% |
| NYSE Arca & Amex (Tape B) Listed Issues | ||||||||||
| Handled Volume 5 | 296 | 381 | -22,2% | 5 923 | 7 999 | -26,0% | 334 | -12,3% | 27 414 | -12,3% |
| Matched Volume 6 | 265 | 343 | -22,8% | 5 295 | 7 199 | -26,4% | 300 | -11,6% | 24 565 | -11,6% |
| Total NYSE Arca & Amex Listed Consolidated Volume | 1 154 | 1 492 | -22,7% | 23 081 | 31 342 | -26,4% | 1 303 | -11,7% | 106 832 | -11,7% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 Matched Volume 6 |
25,7% 22,9% |
25,5% 23,0% |
0,2% -0,1% |
25,7% 22,9% |
25,5% 23,0% |
0,2% -0,1% |
25,7% 23,0% |
-0,1% 0,0% |
25,7% 23,0% |
-0,1% 0,0% |
| Nasdaq Listed (Tape C) Issues | ||||||||||
| Handled Volume 5 Matched Volume 6 |
277 234 |
352 291 |
-21,5% -19,6% |
5 534 4 672 |
7 400 6 104 |
-25,2% -23,5% |
291 247 |
-14,5% -11,4% |
23 829 20 244 |
-14,5% -11,4% |
| Total Nasdaq Listed Consolidated Volume | 1 928 | 2 525 | -23,6% | 38 557 | 53 016 | -27,3% | 2 021 | -15,3% | 165 723 | -15,3% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 | 14,4% | 14,0% | 0,4% | 14,4% | 14,0% | 0,4% | 14,4% | 0,1% | 14,4% | 0,1% |
| Matched Volume 6 | 12,1% | 11,5% | 0,6% | 12,1% | 11,5% | 0,6% | 12,2% | 0,5% | 12,2% | 0,5% |
| Exchange-Traded Funds 5,7 | ||||||||||
| Handled Volume 5 | 271 | 360 | -24,9% | 5 413 | 7 569 | -28,5% | 305 | -16,3% | 24 970 | -16,3% |
| Matched Volume 6 | 242 | 326 | -25,9% | 4 838 | 6 852 | -29,4% | 273 | -15,9% | 22 380 | -15,9% |
| Total ETF Consolidated Volume | 1 061 | 1 433 | -26,0% | 21 216 | 30 091 | -29,5% | 1 200 | -16,7% | 98 428 | -16,7% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 | 25,5% | 25,2% | 0,3% | 25,5% | 25,2% | 0,3% | 25,4% | 0,1% | 25,4% | 0,1% |
| Matched Volume 6 | 22,8% | 22,8% | 0,0% | 22,8% | 22,8% | 0,0% | 22,7% | 0,2% | 22,7% | 0,2% |
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 and
executed at an external market center. NYSE Arca routing includes odd-lots.
6 Represents the total number of shares of equity securities and ETFs executed on the NYSE Group's exchanges.
7 Data included in previously identified categories.
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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