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NYSE Euronext (NYX) today announced trading volumes for its global cash equities and derivatives exchanges for September 20091. Trading volumes in September 2009 were mostly lower compared to September 2008 levels, during which crisis-level volatility drove near-record trading volumes. While trading volumes declined year-over-year, volumes in September increased from August 2009 levels with U.S. and European cash products increasing 2.9% and 13.2%, respectively, and U.S. and European derivatives products increasing 30.0% and 24.4%, respectively.
Highlights
- NYSE, NYSE Arca and NYSE Amex (“NYSE Group”) U.S. cash products handled ADV of 3.0 billion shares in September 2009 decreased 30.8% compared to September 2008, but increased 2.9% compared to August 2009. NYSE Group matched share of all U.S. equity trading volume in September 2009 was 28.0%, up from 27.4% in August 2009, and compared to matched market share of 22.6% for our next largest competitor. NYSE Group’s Tape A matched market share in September 2009 was 36.1%, up from 33.8% in August 2009.
- NYSE Euronext is the largest exchange operator in the two fastest growing tapes in the U.S. equity markets. Year-to-date, total Tape A and Tape B consolidated ADV of 8.0 billion shares increased a combined 32.9%, compared to the prior year period, while Tape C consolidated ADV of 2.3 billion shares has increased only 1.4% during the same period.
- NYSE Euronext European cash products ADV of 1.5 million transactions in September 2009 decreased 20.2% compared to September 2008, but increased 13.2% from August 2009.
- NYSE Euronext European derivatives products ADV in September 2009 of 4.4 million contracts decreased 9.3% compared to September 2008, but increased 24.4% from August 2009. Total interest rate products ADV in September 2009 of 2.3 million contracts increased 0.4% compared to September 2008 and total equity products ADV of 2.0 million contracts decreased 18.4% compared to September 2008.
- NYSE Euronext U.S. equity options ADV of 3.0 million contracts in September 2009 increased 49.4% compared to September 2008 levels, and increased 30.0% from August 2009. NYSE Euronext’s U.S. options exchanges accounted for 21.4% of the total consolidated equity options trading in September 2009, up from 12.3% in September 2008, and up from 18.2% in August 2009. The increase in ADV and market share year-over-year was driven mostly by the addition of the former Amex options business. The increase in ADV and market share compared to August was driven in part by increased trading related to the anticipated sale of an equity stake in NYSE Amex Options and NYSE Amex Options pricing changes implemented July 1, 2009.
- NYSE Liffe U.S. futures and futures options ADV in September 2009 of approximately 21,000 contracts increased from approximately 12,000 contracts in August 2009 with the launch of equity index futures trading in September based on the MSCI U.S., EM and EAFE indexes.
Cash Trading
U.S. Cash
- NYSE Group U.S. cash products handled ADV in September 2009 decreased 30.8% to 3.0 billion shares, compared to September 2008, but increased 2.9% from August 2009. In the third quarter of 2009, ADV of 2.9 billion was 19.2% below the third quarter of 2008. Year-to-date, NYSE Group handled ADV of 3.5 billion shares was 5.2% above the same period last year.
- NYSE Group matched share of all U.S. equity volume in September 2009 was 28.0%, compared to matched market share of 22.6% for our next largest competitor.
- Consolidated Tape A and Tape B trading volume in September accounted for approximately 75% of all Consolidated Tape trading in the U.S. market which includes trade reporting facility (“TRF”) volumes.
NYSE-listed (Tape A)
- Total Tape A consolidated ADV in September 2009 decreased 16.5% to 5.7 billion shares compared to 6.8 billion shares in September 2008 and decreased 3.5% compared to August 2009. In the third quarter of 2009, total Tape A consolidated ADV of 5.5 billion shares was 1.5% below the third quarter of 2008. Year-to-date, total Tape A consolidated ADV of 6.0 billion shares was 25.1% above the prior year period.
- Tape A matched ADV of NYSE Group in September 2009 decreased 28.5% to 2.1 billion shares compared to September 2008, but increased 3.3% compared to August 2009. In the third quarter 2009, Tape A matched ADV of 2.0 billion shares was 17.9% below the third quarter of 2008. Year-to-date, NYSE Group matched ADV in Tape A increased 4.0% compared to the prior year period.
- NYSE Group’s Tape A matched market share in September 2009 was 36.1%, up from 33.8% in August 2009, and compared to matched market share of 17.7% for our next largest competitor. TRF market share across Tape A was 34.8%, down from 37.6% in August 2009, but up from 25.0% in December 2008.
- Designated Market Maker (“DMM”) participation in September 2009 was 9.1%, compared to 8.8% in August 2009. Supplemental Liquidity Provider (“SLP”) participation in September 2009 was 9.5%, compared to 7.6% in August 2009. A total of 6 SLPs are now on the platform. DMM and SLP participation pertain only to trading on NYSE.
NYSE Arca and NYSE Amex-listed (Tape B)
- Total Tape B consolidated ADV in September 2009 decreased 24.4% to 1.5 billion shares compared to September 2008, but increased 2.9% compared to August 2009. In the third quarter of 2009, total Tape B consolidated ADV of 1.5 billion shares was 4.8% below the third quarter of 2008. Year-to-date, total Tape B consolidated ADV of 2.0 billion shares was 62.4% above the prior year period.
- NYSE Group’s matched ADV of Tape B in September 2009 decreased 40.7% to 348 million shares compared to September 2008 and was flat compared to August 2009. In the third quarter of 2009, Tape B matched ADV of 352 million shares decreased 20.9% compared to the third quarter of 2008. Year-to-date, NYSE Group Tape B matched ADV was 37.8% above the prior year period.
- Tape B matched market share of NYSE Group in September 2009 was 22.6%, down from 23.3% in August 2009, compared to matched market share of 25.1% for our next largest competitor. TRF market share across Tape B in September 2009 was 34.4% compared to 21.5% in December 2008.
Nasdaq-listed (Tape C)
- Total Tape C consolidated ADV in September 2009 decreased 4.8% to 2.4 billion shares, compared to 2.5 billion shares in September 2008. Total Tape C consolidated volumes represented approximately 25% of all consolidated tape trading in the U.S. in September 2009. In the third quarter of 2009, total Tape C consolidated ADV of 2.3 billion shares declined slightly compared to the third quarter of 2008. Year-to-date, total Tape C consolidated ADV was 1.4% above the prior year period.
- NYSE Group’s matched ADV of Tape C decreased 33.4% to 295 million shares in September 2009 compared to 443 million shares in September 2008, but increased 8.9% compared to August 2009. In the third quarter of 2009, Tape C matched ADV of 284 million shares decreased 26.4% compared to the third quarter of 2008. Year-to-date, NYSE Group’s Tape C matched ADV decreased 16.2% to 318 million shares.
- NYSE Group’s Tape C matched market share in September 2009 decreased to 12.2% from 12.6% in August 2009, compared to matched market share of 32.4% for our nearest competitor. TRF market share across Tape C in August 2009 was 40.9% compared to 29.9% in December 2008.
Exchange Traded Products
- NYSE Group matched exchange-traded products ADV (included in volumes from Tape B and Tape C noted above) of 317 millions shares in September 2009 decreased 49.1% compared to September 2008. In the third quarter of 2009, matched exchange-traded products ADV of 335 million shares was 29.3% below the third quarter of 2008. Year-to-date, matched exchange-traded products ADV was 27.2% above the prior year period.
European Cash
- NYSE Euronext European cash products ADV of 1.5 million transactions in September 2009 decreased 20.2%, compared to September 2008, but increased 13.2% compared to August 2009 and represented the second consecutive monthly increase in ADV. In the third quarter of 2009, European cash products ADV of 1.3 million transactions decreased 15.0% compared to the third quarter of 2008. Year-to-date, European cash products ADV of 1.4 million transactions was 9.5% below the same period last year.
Derivatives Trading
European Derivatives
- NYSE Euronext European derivatives products ADV in September 2009 was 4.4 million futures and options contracts, a decrease of 9.3% from September 2008, but an increase of 24.4% from the 3.5 million contracts recorded in August 2009. The 4.4 million in futures and options contracts ADV in September 2009 consisted of 3.5 million contracts executed through our full-service LIFFE CONNECT trading platform and 0.8 million, or 19.3%, executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products.
- In the third quarter of 2009, European derivatives products ADV was 3.8 million contracts, 1.4% above the third quarter of 2008. The 3.8 million in futures and options contracts ADV in the third quarter of 2009 consisted of 2.9 million contracts executed through LIFFE CONNECT and 0.9 million contracts, or 22.4%, executed through Bclear. Year-to-date European derivatives products ADV of 4.1 million contracts was 2.1% below prior year levels.
- Total interest rate products ADV of 2.3 million contracts in September 2009 increased 0.4% and 22.2% from September 2008 and August 2009, respectively. In the third quarter of 2009, interest rate products ADV of 1.9 million contracts was down 0.7% from the third quarter of 2008. Year-to-date, total interest rate products ADV decreased 12.8% compared to the prior year period.
- Total equity products (including Bclear) ADV of 2.0 million contracts in September 2009 decreased 18.4% compared to September 2008, but increased 27.1% compared to August 2009. In the third quarter of 2009, total equity products ADV of 1.9 million contracts, including 1.0 million contracts executed through LIFFE CONNECT, was 3.8% above the 1.8 million contracts executed in the third quarter of 2008 which included 1.1 million contracts executed through LIFFE CONNECT. Year-to-date total equity products ADV increased 11.3% from the prior year period driven primarily by a 41.6% increase in volume executed through Bclear.
U.S. Derivatives
- NYSE Group U.S. equity options (NYSE Arca and NYSE Amex) ADV of 3.0 million contracts in September 2009 increased 49.4% compared to September 2008 and increased 30.0% compared to August 2009. In the third quarter of 2009, NYSE group U.S. equity options ADV of 2.6 million contracts increased 46.3% compared to the third quarter of 2008. Year-to-date, NYSE Group U.S. equity options volume of 2.5 million contracts was 43.1% above the prior year period.
- Total U.S. consolidated options ADV decreased 13.9% to 14.0 million contracts in September 2009, but increased 10.1% compared to August 2009. In the third quarter of 2009, U.S. consolidated options ADV of 13.2 million contracts decreased 8.1% compared to the third quarter of 2008. Year-to-date, U.S. consolidated options ADV of 13.5 million contracts was 1.4% above the prior year period.
- NYSE Euronext’s U.S. options exchanges accounted for 21.4% of the total consolidated equity options trading in September 2009, up from 12.3% in September 2008, and up from 18.2% in August 2009. The increase in ADV and market share year-over-year was driven mostly by the addition of the former Amex options business. The increase in ADV and market share compared to August was driven in part by increased trading related to the anticipated sale of an equity stake in NYSE Amex Options and NYSE Amex Options pricing changes implemented July 1, 2009.
- NYSE Euronext U.S. futures and futures options (NYSE Liffe U.S.) ADV in September 2009 of approximately 21,000 contracts increased from approximately 12,000 contracts in August 2009 with the launch of equity index futures trading in September based on the MSCI U.S., EM and EAFE indexes. There are no fees for MSCI equity index futures trading through December 2009.
Other Metrics
- The average EUR/USD exchange rate for the third quarter of 2009 of $1.43 represented an increase of 4.9% from the second quarter of 2009, but a decrease of 4.9% compared to the third quarter of 2008. Year-to-date, the average EUR/USD exchange rate is running 10.2% below the same period last year.
- The average GBP/USD exchange rate for the third quarter of 2009 of $1.64 represented an increase of 5.8% from the second quarter of 2009, but a decrease of 13.3% compared to the third quarter of 2008. Year-to-date, the average GBP/USD exchange rate is running 20.8% below the same period last year.
Please click herefor the Monthly Transaction Activity Data Table.
1 Euronext equities transactions count each buy and sell order as separate
transactions,
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NYSE Euronext |
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| Monthly Volume Summary - Cash Products | ||||||||||||||||||||||||||||||
| Average Daily Volume | Total Volume | Average Daily Volume | Total Volume | |||||||||||||||||||||||||||
| (Unaudited) | Sep-09 | Sep-08 | % Chg | Sep-09 | Sep-08 | % Chg | YTD 2009 | %
Chg vs. YTD 2008 |
YTD 2009 | %
Chg vs. YTD 2008 |
||||||||||||||||||||
| Number of Trading Days - European Markets | 22 | 22 | 22 | 22 | 191 | 191 | ||||||||||||||||||||||||
| Number of Trading Days - U.S. Markets | 21 | 21 | 21 | 21 | 188 | 188 | ||||||||||||||||||||||||
| European Cash Products (trades in thousands) | 1,475 | 1,848 | -20.2 | % | 32,443 | 40,661 | -20.2 | % | 1,381 | -9.5 | % | 263,858 | -10.0 | % | ||||||||||||||||
| Equities | 1,420 | 1,787 | -20.5 | % | 31,241 | 39,316 | -20.5 | % | 1,323 | -10.3 | % | 252,636 | -10.8 | % | ||||||||||||||||
| Exchange-Traded Funds | 14 | 11 | 32.9 | % | 309 | 232 | 32.9 | % | 14 | 81.0 | % | 2,694 | 80.1 | % | ||||||||||||||||
| Structured Products | 35 | 46 | -24.0 | % | 762 | 1,003 | -24.0 | % | 39 | 0.1 | % | 7,459 | -0.4 | % | ||||||||||||||||
| Bonds | 6 | 5 | 20.0 | % | 131 | 110 | 20.0 | % | 6 | 7.5 | % | 1,069 | 6.9 | % | ||||||||||||||||
| U.S. Cash Products (shares in millions) 2 | 3,021 | 4,366 | -30.8 | % | 63,446 | 91,684 | -30.8 | % | 3,523 | 5.2 | % | 662,283 | 4.7 | % | ||||||||||||||||
| NYSE Listed (Tape A) Issues 1 | ||||||||||||||||||||||||||||||
| NYSE Group Handled Volume 2 | 2,249 | 3,179 | -29.2 | % | 47,238 | 66,768 | -29.2 | % | 2,569 | 3.4 | % | 482,915 | 2.9 | % | ||||||||||||||||
| NYSE Group Matched Volume 3 | 2,054 | 2,872 | -28.5 | % | 43,132 | 60,308 | -28.5 | % | 2,330 | 4.0 | % | 438,119 | 3.5 | % | ||||||||||||||||
| Total NYSE Listed Consolidated Volume | 5,686 | 6,812 | -16.5 | % | 119,414 | 143,061 | -16.5 | % | 5,996 | 25.1 | % | 1,127,225 | 24.5 | % | ||||||||||||||||
| NYSE Group Share of Total Consolidated Volume | ||||||||||||||||||||||||||||||
| Handled Volume 2 | 39.6 | % | 46.7 | % | -7.1 | % | 39.6 | % | 46.7 | % | -7.1 | % | 42.8 | % | -9.0 | % | 42.8 | % | -9.0 | % | ||||||||||
| Matched Volume 3 | 36.1 | % | 42.2 | % | -6.1 | % | 36.1 | % | 42.2 | % | -6.1 | % | 38.9 | % | -7.9 | % | 38.9 | % | -7.9 | % | ||||||||||
| NYSE Arca & Amex (Tape B) Listed Issues | ||||||||||||||||||||||||||||||
| NYSE Group Handled Volume 2 | 402 | 669 | -39.9 | % | 8,447 | 14,056 | -39.9 | % | 564 | 37.0 | % | 106,095 | 36.3 | % | ||||||||||||||||
| NYSE Group Matched Volume 3 | 348 | 586 | -40.7 | % | 7,308 | 12,316 | -40.7 | % | 494 | 37.8 | % | 92,784 | 37.1 | % | ||||||||||||||||
| Total NYSE Arca & Amex Listed Consolidated Volume | 1,541 | 2,037 | -24.4 | % | 32,357 | 42,783 | -24.4 | % | 2,043 | 62.4 | % | 384,083 | 61.6 | % | ||||||||||||||||
| NYSE Group Share of Total Consolidated Volume | ||||||||||||||||||||||||||||||
| Handled Volume 2 | 26.1 | % | 32.9 | % | -6.8 | % | 26.1 | % | 32.9 | % | -6.8 | % | 27.6 | % | -5.1 | % | 27.6 | % | -5.1 | % | ||||||||||
| Matched Volume 3 | 22.6 | % | 28.8 | % | -6.2 | % | 22.6 | % | 28.8 | % | -6.2 | % | 24.2 | % | -4.3 | % | 24.2 | % | -4.3 | % | ||||||||||
| Nasdaq Listed (Tape C) Issues | ||||||||||||||||||||||||||||||
| NYSE Group Handled Volume 2 | 370 | 517 | -28.5 | % | 7,760 | 10,860 | -28.5 | % | 390 | -14.0 | % | 73,273 | -14.5 | % | ||||||||||||||||
| NYSE Group Matched Volume 3 | 295 | 443 | -33.4 | % | 6,191 | 9,294 | -33.4 | % | 318 | -16.2 | % | 59,832 | -16.6 | % | ||||||||||||||||
| Total Nasdaq Listed Consolidated Volume | 2,411 | 2,531 | -4.8 | % | 50,627 | 53,157 | -4.8 | % | 2,299 | 1.4 | % | 432,146 | 0.9 | % | ||||||||||||||||
| NYSE Group Share of Total Consolidated Volume | ||||||||||||||||||||||||||||||
| Handled Volume 2 | 15.3 | % | 20.4 | % | -5.1 | % | 15.3 | % | 20.4 | % | -5.1 | % | 17.0 | % | -3.1 | % | 17.0 | % | -3.1 | % | ||||||||||
| Matched Volume 3 | 12.2 | % | 17.5 | % | -5.3 | % | 12.2 | % | 17.5 | % | -5.3 | % | 13.8 | % | -3.0 | % | 13.8 | % | -3.0 | % | ||||||||||
| Exchange-Traded Funds 1,4 | ||||||||||||||||||||||||||||||
| NYSE Group Handled Volume 2 | 364 | 708 | -48.6 | % | 7,638 | 14,862 | -48.6 | % | 556 | 26.9 | % | 104,496 | 26.3 | % | ||||||||||||||||
| NYSE Group Matched Volume 3 | 317 | 623 | -49.1 | % | 6,656 | 13,075 | -49.1 | % | 487 | 27.2 | % | 91,621 | 26.6 | % | ||||||||||||||||
| Total ETF Consolidated Volume | 1,461 | 2,171 | -32.7 | % | 30,679 | 45,600 | -32.7 | % | 2,068 | 56.3 | % | 388,848 | 55.5 | % | ||||||||||||||||
| NYSE Group Share of Total Consolidated Volume | ||||||||||||||||||||||||||||||
| Handled Volume 2 | 24.9 | % | 32.6 | % | -7.7 | % | 24.9 | % | 32.6 | % | -7.7 | % | 26.9 | % | -6.2 | % | 26.9 | % | -6.2 | % | ||||||||||
| Matched Volume 3 | 21.7 | % | 28.7 | % | -7.0 | % | 21.7 | % | 28.7 | % | -7.0 | % | 23.6 | % | -5.3 | % | 23.6 | % | -5.3 | % | ||||||||||
| NYSE Euronext | ||||||||||||||||||||||||||||||
| Monthly Volume Summary - Derivatives Products | ||||||||||||||||||||||||||||||
| Average Daily Volume | Total Volume | Average Daily Volume | Total Volume | |||||||||||||||||||||||||||
| (Unaudited; contracts in thousands) | Sep-09 | Sep-08 | % Chg | Sep-09 | Sep-08 | % Chg | YTD 2009 | %
Chg vs. YTD 2008 |
YTD 2009 | %
Chg vs. YTD 2008 |
||||||||||||||||||||
| Number of Trading Days - European Markets | 22 | 22 | 22 | 22 | 191 | 191 | ||||||||||||||||||||||||
| Number of Trading Days - U.S. Markets | 21 | 21 | 21 | 21 | 188 | 188 | ||||||||||||||||||||||||
| European Derivatives Products | 4,355 | 4,800 | -9.3 | % | 95,817 | 105,605 | -9.3 | % | 4,147 | -2.1 | % | 792,109 | -2.6 | % | ||||||||||||||||
| of which Bclear | 842 | 995 | -15.3 | % | 18,531 | 21,884 | -15.3 | % | 1,071 | 41.6 | % | 204,565 | 40.9 | % | ||||||||||||||||
| Total Interest Rate Products | 2,282 | 2,274 | 0.4 | % | 50,210 | 50,021 | 0.4 | % | 2,016 | -12.8 | % | 385,125 | -13.2 | % | ||||||||||||||||
| Short Term Interest Rate Products | 2,182 | 2,165 | 0.8 | % | 48,006 | 47,631 | 0.8 | % | 1,917 | -13.0 | % | 366,212 | -13.5 | % | ||||||||||||||||
| Medium and Long Term Interest Rate Products 5 | 100 | 109 | -7.7 | % | 2,205 | 2,390 | -7.7 | % | 99 | -6.7 | % | 18,913 | -7.2 | % | ||||||||||||||||
| Total Credit Derivatives Products (Bclear) | - | - | - | - | - | - | ||||||||||||||||||||||||
| Total Equity Products 6 | 2,021 | 2,477 | -18.4 | % | 44,462 | 54,483 | -18.4 | % | 2,084 | 11.3 | % | 397,997 | 10.7 | % | ||||||||||||||||
| Individual Equity Products | 1,350 | 1,614 | -16.3 | % | 29,699 | 35,499 | -16.3 | % | 1,467 | 20.1 | % | 280,130 | 19.5 | % | ||||||||||||||||
| Equity Index Products | 671 | 863 | -22.2 | % | 14,762 | 18,984 | -22.2 | % | 617 | -5.2 | % | 117,867 | -5.7 | % | ||||||||||||||||
| of which Bclear | 842 | 995 | -15.3 | % | 18,531 | 21,884 | -15.3 | % | 1,071 | 41.6 | % | 204,565 | 40.9 | % | ||||||||||||||||
| Individual Equity Products | 687 | 858 | -19.9 | % | 15,112 | 18,875 | -19.9 | % | 939 | 44.4 | % | 179,381 | 43.6 | % | ||||||||||||||||
| Equity Index Products | 155 | 137 | 13.7 | % | 3,419 | 3,008 | 13.7 | % | 132 | 24.5 | % | 25,184 | 23.9 | % | ||||||||||||||||
| Commodity Products | 52 | 50 | 4.0 | % | 1,145 | 1,101 | 4.0 | % | 47 | -13.3 | % | 8,987 | -13.7 | % | ||||||||||||||||
| U.S. Derivatives Products | ||||||||||||||||||||||||||||||
| Equity Options 7 | ||||||||||||||||||||||||||||||
| NYSE Group Options Contracts | 2,998 | 2,007 | 49.4 | % | 62,948 | 42,140 | 49.4 | % | 2,486 | 43.1 | % | 467,409 | 42.4 | % | ||||||||||||||||
| Total Consolidated Options Contracts | 13,993 | 16,252 | -13.9 | % | 293,863 | 341,302 | -13.9 | % | 13,530 | 1.4 | % | 2,543,548 | 0.9 | % | ||||||||||||||||
| NYSE Group Share of Total | 21.4 | % | 12.3 | % | 21.4 | % | 12.3 | % | 18.4 | % | 5.4 | % | 18.4 | % | 5.4 | % | ||||||||||||||
| NYSE Liffe U.S. | ||||||||||||||||||||||||||||||
| Futures and Futures Options Volume | 20.6 | - | 431.8 | - | 16.6 | - | 3,113.5 | - | ||||||||||||||||||||||
| 1 | Includes all volume executed in NYSE Group crossing sessions. | |
| 2 | 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. | |
| 3 | Represents the total number of shares of equity securities and ETFs executed on the NYSE Group's exchanges. | |
| 4 | Data included in previously identified categories. | |
| 5 | Data includes currency products. | |
| 6 | Includes all trading activities for Bclear, NYSE Liffe's clearing service for wholesale derivatives. | |
| 7 | Includes trading in U.S. equity options contracts, not equity-index options. | |
| 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. | ||
| US Equities data has been updated for Amex integration for October 2008 forward. |
Source:
