Earnings Release • Jan 10, 2013
Earnings Release
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NYSE Euronext Announces Trading Volumes for December 2012 and Other Metrics Global Derivatives ADV of 7.5 Million Contracts in December In-line with Prior Year NYSE Liffe Fixed Income Products ADV Up 17% Versus Prior Year European and U.S. Cash Equities ADV Lower
January 10, 2013 – NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for December 20121 . Global derivatives average daily volume ("ADV") of 7.5 million contracts in December 2012 was down slightly compared to December 2011 and decreased 8.0% from November 2012 levels on seasonally slower trading activity. European derivatives fixed income ADV, however, increased 17.4% from December 2011 levels. Trading volumes in European and U.S. equities, declined both year-over-year and month-over-month.
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.
| Trading Venue | 4Q11 | 3Q12 | Preliminary 4Q12 |
|---|---|---|---|
| 1 European Derivatives (ex. Bclear) |
\$0.698 | \$0.657 | \$0.67 |
| U.S. Derivatives2 | \$0.148 | \$0.144 | \$0.14 |
| European Cash3 | \$0.582 | \$0.537 | \$0.58 |
| U.S. Cash4 | \$0.039 | \$0.040 | \$0.040 |
1 Average net revenue per contract, excluding Bclear.
2 Average net revenue per contract. Excludes NYSE Liffe U.S. trading volume.
3 Average net revenue per transaction.
4 Average net revenue per 100 shares handled.
European Derivatives
million contracts in individual equity products ADV and 0.5 million contracts in equity index products ADV. The 1.3 million contracts in individual equity products ADV consisted of 0.9 million in futures contracts, which represented a 14.0% decrease compared to December 2011 and 0.4 million in options contracts, which represented a 17.9% decrease compared to December 2011. In the fourth quarter of 2012, total equity products ADV of 1.9 million contracts were 7.6% below prior year levels. For the full-year 2012, total equity products ADV of 1.9 million contracts were 12.3% below prior year levels.
• For the full-year 2012, European cash products market share was 66.2% with ADV of 1.4 million transactions which was 15.5% below prior year levels.
U.S. Cash
Exchange Traded Funds
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 press release may contain "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 involve a number of risks and uncertainties. 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 forwardlooking statement. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving 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 inability to complete the merger due to the failure of NYSE Euronext stockholders to adopt the merger agreement or the failure of ICE stockholders to approve the issuance of ICE common stock in connection with the merger; 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 and 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 described in the section entitled "Risk Factors" in the joint proxy statement/prospectus to be delivered to ICE's and NYSE Euronext's respective shareholders, and 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,
2011, as filed with the SEC on February 8, 2012, and ICE's Quarterly Reports on Form 10-Q for the quarters ended June 30, 2012, as filed with the SEC on August 1, 2012 and September 30, 2012, as filed with the SEC on November 5, 2012, and "Risk Factors" in NYSE Euronext's Form 10−K for the fiscal year ended December 31, 2011, as filed with the SEC on February 29, 2012. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Except for any obligations to disclose material information under the Federal securities laws, NYSE Euronext undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this press release.
In connection with the proposed transaction, ICE intends to file with the SEC a registration statement on Form S−4, which will include a joint proxy statement/prospectus with respect to the proposed acquisition of NYSE Euronext. The final joint proxy statement/prospectus will be 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, when it becomes available because it will contain important information regarding ICE, NYSE Euronext and the proposed merger. Investors will be able to 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.
ICE, NYSE Euronext and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the transactions contemplated by the merger agreement.
You can find information about ICE and ICE's directors and executive officers in ICE's Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the SEC on February 8, 2012, and ICE's proxy statement for its 2012 annual meeting of stockholders, as filed with the SEC on March 30, 2012.
You can find information about NYSE Euronext and NYSE Euronext's directors and executive officers in NYSE Euronext's Annual Report on Form 10-K for the year ended December 31, 2011, as filed with the SEC on February 29, 2012, and NYSE Euronext's proxy statement for its 2012 annual meeting of stockholders, filed with the SEC on March 26, 2012.
Additional information about the interests of potential participants will be included in the joint proxy statement/prospectuses, if and when it becomes available, and the other relevant documents filed by ICE and NYSE Euronext with the SEC.
This announcement does not constitute and offer or any solicitation of any offer, to buy or subscribe for any securities.
| Average Daily Volume | Total Volume | Average Daily Volume | Total Volume | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| (Unaudited; contracts in thousands) | déc-12 | déc-11 | % Chg | déc-12 | déc-11 | % Chg | YTD 2012 | % Chg vs. YTD 2011 |
YTD 2012 | % Chg vs. YTD 2011 |
| Number of Trading Days - European Cash Number of Trading Days - European Derivatives Number of Trading Days - U.S. Markets |
19 19 20 |
21 21 21 |
19 19 20 |
21 21 21 |
256 257 250 |
256 257 250 |
||||
| European Derivatives Products of which Bclear |
3 491 1 103 |
3 440 | 1,5% 1 240 -11,1% |
66 326 20 949 |
72 245 26 046 -19,6% |
-8,2% | 3 719 1 103 |
-16,8% -3,3% |
955 802 283 554 |
-16,8% -3,3% |
| Total Fixed Income Products | 1 587 | 1 352 | 17,4% | 30 146 | 28 390 | 6,2% | 1 754 | -22,0% | 450 896 | -22,0% |
| Short Term Interest Rate Products | 1 468 | 1 268 | 15,8% | 27 897 | 26 625 | 4,8% | 1 602 | -24,1% | 411 806 | -24,1% |
| Medium and Long Term Interest Rate Products 1 | 118 | 84 | 40,8% | 2 249 | 1 766 | 27,4% | 152 | 9,5% | 39 089 | 9,5% |
| Total Equity Products 2 | 1 807 | 2 021 -10,6% | 34 335 | 42 432 -19,1% | 1 875 | -12,3% | 481 969 | -12,3% | ||
| Individual Equity Products | 1 296 | 1 529 -15,2% | 24 626 | 32 109 -23,3% | 1 398 | -10,4% | 359 382 | -10,4% | ||
| Futures | 907 | 1 056 -14,0% | 17 241 | 22 168 -22,2% | 959 | -1,6% | 246 542 | -1,6% | ||
| Options Equity Index Products |
389 511 |
492 | 473 -17,9% 3,9% |
7 385 9 709 |
10 323 | 9 941 -25,7% -6,0% |
439 477 |
-25,1% -17,5% |
112 841 122 587 |
-25,1% -17,5% |
| of which Bclear | 1 103 | 1 240 -11,1% | 20 949 | 26 046 -19,6% | 1 103 | -3,3% | 283 554 | -3,3% | ||
| Individual Equity Products Futures |
983 907 |
1 142 -14,0% 1 055 -14,0% |
18 671 17 241 |
23 986 -22,2% 22 165 -22,2% |
1 027 938 |
-3,1% -2,2% |
263 840 240 967 |
-3,1% -2,2% |
||
| Options | 75 | 87 | -13,2% | 1 430 | 1 820 -21,4% | 89 | -11,9% | 22 873 | -11,9% | |
| Equity Index Products | 120 | 98 | 22,2% | 2 278 | 2 060 | 10,6% | 77 | -5,5% | 19 714 | -5,5% |
| Commodity Products | 97 | 68 | 43,3% | 1 844 | 1 422 | 29,7% | 89 | 10,6% | 22 937 | 10,6% |
| U.S. Derivatives Products | ||||||||||
| Equity Options 3 | ||||||||||
| NYSE Euronext Options Contracts | 3 888 | 3 936 | -1,2% | 77 767 | 82 656 | -5,9% | 3 893 | -11,6% | 973 140 | -12,3% |
| Total Consolidated Options Contracts | 14 275 | 14 224 | 0,4% | 285 492 298 702 | -4,4% | 14 727 | -12,2% | 3 681 821 | -12,8% | |
| NYSE Group Share of Total | 27,2% | 27,7% | 27,2% | 27,7% | 26,4% | 0,1% | 26,4% | 0,1% | ||
| NYSE Liffe U.S. | ||||||||||
| Futures and Futures Options Volume* | 72,6 | 89,6 -19,0% | 1 452 | 1 882 -22,8% | 72,7 | -10,4% | 18 769,2 | -10,4% | ||
| European Cash Products (trades in thousands) | 1 068 | 1 338 | -20,2% | 20 297 | 28 095 | -27,8% | 1 445 | -15,5% | 370 013 | -15,9% |
| Equities Exchange-Traded Funds |
1 026 12 |
1 287 -20,2% 15 -25,0% |
19 503 221 |
27 023 -27,8% 325 -32,1% |
1 396 13 |
-15,1% -35,0% |
357 365 3 412 |
-15,4% -35,2% |
||
| Structured Products | 24 | 31 -20,9% | 459 | 642 -28,4% | 31 | -25,7% | 7 885 | -26,0% | ||
| Bonds | 6 | 5 | 20,5% | 114 | 104 | 9,0% | 5 | 5,8% | 1 350 | 5,3% |
| U.S. Cash Products (shares in millions) 5 | 1 531 | 1 794 | -14,7% | 30 623 | 37 682 | -18,7% | 1 685 | -26,2% | 421 338 | -26,8% |
| NYSE Listed (Tape A) Issues 4 | ||||||||||
| Handled Volume 5 | 1 110 | 1 277 | -13,1% | 22 196 | 26 821 | -17,2% | 1 207 | -24,9% | 301 769 | -25,5% |
| Matched Volume 6 | 1 068 | 1 212 | -11,8% | 21 363 | 25 445 | -16,0% | 1 147 | -24,7% | 286 785 | -25,3% |
| Total NYSE Listed Consolidated Volume | 3 353 | 3 623 | -7,4% | 67 069 | 76 086 | -11,9% | 3 659 | -16,3% | 914 654 | -16,9% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 Matched Volume 6 |
33,1% 31,9% |
35,3% 33,4% |
-2,2% -1,5% |
33,1% 31,9% |
35,3% 33,4% |
-2,2% -1,5% |
33,0% 31,4% |
-3,8% -3,5% |
33,0% 31,4% |
-3,8% -3,5% |
| NYSE Arca, MKT and Regional (Tape B) Listed Issues | ||||||||||
| Handled Volume 5 Matched Volume 6 |
225 | 295 | -23,7% | 4 501 | 6 192 | -27,3% | 248 | -35,0% | 61 957 | -35,5% |
| Total NYSE Arca & MKT Listed Consolidated Volume | 209 970 |
263 1 170 |
-20,6% -17,1% |
4 171 19 403 |
5 517 24 580 |
-24,4% -21,1% |
225 1 055 |
-34,6% -28,4% |
56 127 263 832 |
-35,1% -29,0% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 | 23,2% | 25,2% | -2,0% | 23,2% | 25,2% | -2,0% | 23,5% | -2,4% | 23,5% | -2,4% |
| Matched Volume 6 | 21,5% | 22,4% | -0,9% | 21,5% | 22,4% | -0,9% | 21,3% | -2,0% | 21,3% | -2,0% |
| Nasdaq Listed (Tape C) Issues | ||||||||||
| Handled Volume 5 | 196 | 222 | -11,7% | 3 926 | 4 669 | -15,9% | 230 | -21,8% | 57 612 | -22,4% |
| Matched Volume 6 | 175 | 189 | -7,5% | 3 506 | 3 979 | -11,9% | 199 | -21,6% | 49 756 | -22,2% |
| Total Nasdaq Listed Consolidated Volume | 1 689 | 1 615 | 4,6% | 33 776 | 33 911 | -0,4% | 1 749 | -13,5% | 437 168 | -14,2% |
| Share of Total Consolidated Volume Handled Volume 5 |
||||||||||
| Matched Volume 6 | 11,6% 10,4% |
13,8% 11,7% |
-2,2% -1,3% |
11,6% 10,4% |
13,8% 11,7% |
-2,2% -1,3% |
13,2% 11,4% |
-1,4% -1,2% |
13,2% 11,4% |
-1,4% -1,2% |
| Exchange-Traded Funds 5,7 | ||||||||||
| Handled Volume 5 Matched Volume 6 |
208 | 279 | -25,3% | 4 166 | 5 854 | -28,8% | 233 | -35,4% | 58 195 | -35,9% |
| Total ETF Consolidated Volume | 193 929 |
248 1 139 |
-22,1% -18,5% |
3 858 18 575 |
5 202 23 917 |
-25,8% -22,3% |
211 1 020 |
-34,9% -28,2% |
52 682 255 004 |
-35,5% -28,7% |
| Share of Total Consolidated Volume | ||||||||||
| Handled Volume 5 | 22,4% | 24,5% | -2,1% | 22,4% | 24,5% | -2,1% | 22,8% | -2,5% | 22,8% | -2,5% |
| Matched Volume 6 | 20,8% | 21,7% | -0,9% | 20,8% | 21,7% | -0,9% | 20,7% | -2,1% | 20,7% | -2,1% |
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 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.
* ADVs calculated with the appropriate number of NYSE Liffe U.S. trading days.
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