Regulatory Filings • Jul 9, 2009
Regulatory Filings
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NYSE Euronext Announces Trading Volumes for June 2009 and other Metrics June European Interest Rate Derivatives ADV at Highest Levels Since April 2008;
Second Quarter 2009 Trading Volumes Increase Across All Venues
July 9, 2009 – NYSE Euronext (NYX) today announced trading volumes for its global cash equities and derivatives exchanges for June 20091 . Trading volumes in June 2009 generally receded from May 2009 levels, but ended the quarter with solid increases year-over-year across all venues, including increases of 24.9% in U.S. cash trading, 6.1% in European cash trading, 10.2% in European derivatives and 71.3% in U.S. equity options. European interest rate derivatives average daily volume ("ADV") in June were at their highest levels since April 2008.
1 Euronext equities transactions count each buy and sell order as separate transactions, NYSE Group equities transactions count buy and sell orders together as a single transaction. All NYSE Euronext derivatives transactions count buy and sell orders together as a single transaction. Prior year period does not include the former Amex equities and options businesses.
ADV was driven mostly by the addition of the former Amex options business and stronger options market volumes.
NYSE Group U.S. cash products handled ADV in June 2009 increased 0.6% to 3.2 billion shares, compared to June 2008, but decreased 16.0% from May 2009. In the second quarter 2009, ADV of 3.6 billion was 24.9% above the second quarter 2008, but 9.5% below the first quarter 2009. Year-to-date, NYSE Group handled ADV of 3.8 billion shares was 19.4% above the same period last year. NYSE Group matched share of all U.S. equity volume in June 2009 was 29.7%, compared to 20.8% for our next largest competitor.
NYSE-listed (Tape A)
• Tape B matched market share of NYSE Group in June 2009 was 23.9%, compared to market share of 21.2% for our next largest competitor. TRF market share across Tape B increased in June 2009 to 36.4% from 21.5% in December 2008.
• NYSE Group matched exchange-traded funds ADV (included in volumes from Tape B and Tape C noted above) increased 30.8% to 456 million shares in June 2009. In the second quarter 2009, matched exchange-traded funds ADV increased 80.5%, compared to the second quarter 2008, but decreased 14.3% compared to the first quarter of 2009. Year-to-date, matched exchange-traded funds ADV was 68.2% above the prior year period.
NYSE Euronext European cash products ADV of 1.3 million transactions in June 2009 decreased 9.4%, compared to June 2008 and decreased 10.5% compared to May 2009. For the second quarter 2009, ADV of 1.5 million transactions was 6.1% above the second quarter 2008 and 5.8% above the first quarter 2009. European cash products ADV yearto-date of 1.4 million transactions was 6.6% below the same period last year. As previously announced, on April 1, 2009 NYSE Euronext introduced an integrated transaction fee structure across its pan-European cash equity markets which is based on a fee per executed order instead of a fee per trade. As expected, the net capture rate for European cash declined in-line with expectations when the new pricing structure was announced.
NYSE Euronext European derivatives products ADV in June 2009 was 4.6 million futures and options contracts, an increase of 2.5% from June 2008, but down 17.4% from the record 5.6 million contracts recorded in May 2009. The 4.6 million in futures and options contracts ADV in June 2009 consisted of 3.4 million contracts executed through our fullservice CONNECT trading platform and a total of 1.2 million contracts executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products.
For the second quarter 2009, European derivatives products ADV was 4.9 million contracts, 10.2% above the 4.4 million contracts recorded in the second quarter 2008. Year-to-date European derivatives products ADV of 4.3 million contracts was 3.6% below prior year levels.
NYSE Euronext's U.S. equity options (NYSE Arca and NYSE Amex) ADV in June 2009 increased 66.4% to 2.8 million contracts compared to June 2008, and increased 8.9% compared to May 2009. June 2009 ADV reflected seasonally higher levels of institutional flow, driven in part by the benefit of new technology from the rollout of the new trading floor, that resulted in an increase in market share. This business is traditionally lower margin. Total U.S. consolidated options ADV increased 0.8% to 13.4 million contracts in June 2009, but decreased 9.2% from May 2009. Year-to-date, U.S. equity options volume of 2.4 million contracts was 41.4% above the prior year period. NYSE Euronext's U.S. options exchanges accounted for 20.5% of the total consolidated equity options trading in June 2009, up from 12.4% in June 2008, and up from the 17.1% recorded in May 2009.
The average EUR/USD exchange rate for the second quarter of 2009 of \$1.36 represented an increase of 4.4% from the first quarter of 2009, but a decrease of 12.8% compared to the second quarter of 2008. Year-to-date, the average EUR/USD exchange rate is running 12.8% below the same period last year. The average GBP/USD exchange rate for the second quarter of 2009 of \$1.55 represented an increase of 8.0% from the first quarter of 2009, but a decrease of 21.4% compared to the second quarter of 2008. Year-to-date, the average GBP/USD exchange rate is running 24.4% below the same period last year.
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 more than 8,000 listed issues, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca and NYSE Amex -- represent nearly 40 percent of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business 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 S&P 100 index and Fortune 500. For more information, please visit: www.nyx.com
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext's ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext's reference document for 2008 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on April 28, 2009 under No. R. 09-031), 2008 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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