NYSE Euronext Announces Trading Volumes For September 2012 And Other Metrics - Trading Volumes In September Down Year-Over-Year; Rebound From August 2012 Levels

NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for September 2012^[1]. Trading volumes in September 2012 were down year-over-year, but rebounded across the four principal trading venues fromlower levels recorded in August 2012.

Highlights 

• NYSE Euronext global derivatives ADV in September 2012 of 7.7 million contracts decreased 19.4% compared to September 2011, but increased 19.8% from August 2012 levels. 
• NYSE Euronext European derivatives products ADV in September 2012 of 3.5 million contracts decreased 28.2% compared to September 2011, but increased 6.5% from August 2012.  Excluding Bclear, NYSE Liffe's trade administration and clearing service for OTC products, European derivatives products ADV decreased 20.9% compared to September 2011, but increased 30.6% from August 2012 levels. 
• NYSE Euronext U.S. equity options ADV of 4.1 million contracts in September 2012 decreased 10.2% compared to September 2011 levels, but increased 33.5% from August 2012.   NYSE Euronext’s U.S. options exchanges accounted for 26.0% of total U.S. consolidated equity options trading in September 2012, down from 26.8% in September 2011, but up from 24.8% in August 2012.     
• NYSE Liffe U.S. ADV of approximately 83,700 contracts decreased 26.2% compared to September 2011, but increased 32.4% versus August 2012. 
• NYSE Euronext European cash products ADV of 1.4 million transactions in September 2012 decreased 24.2% compared to September 2011, but increased 31.3% from August 2012 levels. 
• NYSE Euronext U.S. cash products handled ADV of 1.7 billion shares in September 2012 decreased 34.7% compared to September 2011, but increased 15.4% compared to August 2012.   NYSE Euronext’s Tape A matched market share in September 2012 was 31.1%, down from 36.3% in September 2011 and down from 31.6% in August 2012. 

* The preliminary average net revenue per transaction type (as defined below) for each of the primary trading venues in the third quarter of 2012 is included below:

Derivatives Trading

European Derivatives  

• NYSE Euronext European derivatives products ADV in September 2012 of 3.5 million contracts decreased 28.2% compared to September 2011, but increased 6.5% from August 2012 levels. 
• The 3.5 million in European derivatives futures and options contracts ADV in September 2012 consisted of 2.9 million contracts executed through our full-service LIFFE CONNECT trading platform and 0.6 million contracts, or 16.9%, executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products.  Excluding Bclear,NYSE Liffe's trade administration and clearing service for OTC products, European derivatives products ADV decreased 20.9% compared to September 2011, but increased 30.6% compared to August 2012. 
• In the third quarter of 2012, European derivatives products ADV of 3.4 million contracts was 22.2% below prior year levels.  The 3.4 million in futures and options contracts ADV in the third quarter of 2012 consisted of 2.6 million contracts executed through LIFFE CONNECT trading platform and 0.8 million contracts, or 24.5%, executed through Bclear.
• Year-to-date, European derivatives products ADV of 3.8 million contracts was 20.4% below prior year levels. The 3.8 million in futures and options contracts ADV year-to-date consisted of 2.7 million contracts executed through LIFFE CONNECT trading platform and 1.1 million contracts, or 28.4%, executed through Bclear.
• Total fixed income products ADV of 2.0 million contracts in September 2012 decreased 21.5% from September 2011, but increased 39.6% from August 2012.   In the third quarter of 2012, total fixed income products ADV of 1.7 million contracts was 26.2% below prior year levels.  Year-to-date, total fixed income products ADV of 1.8 million contracts was 24.2% below prior year levels. 
• Total equity products (including Bclear) ADV of 1.4 million contracts in September 2012 decreased 37.2% compared to September 2011 and decreased 21.0% from August 2012. The 1.4 million contracts in equity products ADV in September 2012 consisted of 0.8 million contracts in individual equity products ADV and 0.6 million contracts in equity index products ADV.   The 0.8 million contracts in individual equity products ADV consisted of 0.4 million in futures contracts, which represented a 59.2% decrease compared to September 2011 and 0.4 million in options contracts, which represented a 18.8% decrease compared to September 2011.  The average net rate per contract for individual equity futures contracts is significantly lower than other European derivatives products. In the third quarter of 2012, total equity products ADV of 1.6 million contracts were 19.4% below prior year levels. Year-to-date, total equity products ADV of 1.9 million contracts was 17.4% below prior year levels. 
• Total commodities products ADV of approximately 94,000 contracts in September 2012 increased 2.8% compared to September 2011 and increased 5.7% compared to August 2012.   In the third quarter of 2012, total commodities product ADV of 100,000 contracts was 27.7% above prior year levels.   Year-to-date, total commodities product ADV of 87,000 contracts was 3.9% above prior year levels.   

U.S. Derivatives

• NYSE Euronext U.S. equity options ADV of 4.1 million contracts in September 2012 decreased 10.2% compared to September 2011, but increased 33.5% compared to August 2012. In the third quarter of 2012, U.S. equity options ADV of 3.5 million contracts was 27.4% below prior year levels.  Year-to-date, U.S. equity options ADV of 3.9 million contracts was 13.2% below prior year levels.   
• Total U.S. consolidated equity options ADV decreased 7.4% to 15.9 million contracts in September 2012 compared to September 2011, but increased 27.5% compared to August 2012. In the third quarter of 2012, U.S. consolidated equity options ADV of 13.8 million contracts was 25.2% below prior year levels. Year-to-date, U.S. consolidated equity options ADV of 14.9 million contracts was 13.5% below prior year levels.    
• NYSE Euronext’s U.S. options exchanges accounted for 26.0% of total U.S. consolidated equity options trading in September 2012, down from 26.8% in September 2011, but up from 24.8% in August 2012.
• NYSE Liffe U.S. ADV of approximately 83,700 contracts decreased 26.2% compared to September 2011, but increased 32.4% from August 2012.   In the third quarter of 2012, U.S. futures and futures options ADV of 66,400 contracts was 43.7% below prior year levels.  Year-to-date, U.S. futures and futures options ADV of 78,600 contracts was 1.0% above prior year levels.

Cash Trading

European Cash

• NYSE Euronext European cash products ADV of 1.4 million transactions in September 2012 decreased 24.2% compared to September 2011 and increased 31.3% compared to August 2012.     
• September 2012 market share in European Cash products was 68.7%, up from 65.7% in September 2011 and up from 68.2% in August 2012.  
• In the third quarter of 2012, European cash products ADV of 1.3 million transactions was 30.9% below prior year levels.
• Year-to-date, European cash products ADV of 1.5 million transactions was 12.5% below prior year levels.

U.S. Cash

• NYSE Euronext U.S. cash products handled ADV in September 2012 decreased 34.7% to 1.7 billion shares compared to September 2011, but increased 15.4% from August 2012.
• In the third quarter of 2012, U.S. cash products handled ADV was 1.6 billion shares, down 39.3% from prior year levels.
• Year-to-date, U.S. cash products handled ADV was 1.7 billion shares, down 25.8% from prior year levels.      
• NYSE Euronext’s Tape A matched market share in September 2012 was 31.1%, down from 36.3% in September 2011 and down from 31.6% in August 2012.

Exchange Traded Funds

• NYSE Euronext U.S. matched exchange-traded funds ADV (included in volumes for Tape B and Tape C) of 200 million shares in September 2012 decreased 52.5% compared to September 2011, but increased 19.2% compared to August 2012. 
• In the third quarter of 2012, NYSE Euronext U.S. matched exchange-traded funds ADV of 186 million shares was 54.6% below prior year levels.
• Year-to-date, NYSE Euronext U.S. matched exchange-traded funds ADV of 215 million shares was 33.6% below prior year levels.   

Other Metrics

• Beginning with the third quarter of 2012, the Financial Industry Regulatory Authority (“FINRA”) will no longer utilize office space and other services provided by NYSE Euronext.   As a result, “other revenue” will be lower by approximately $3 million beginning with the third quarter of 2012.  
• The average EUR/USD exchange rate for the third quarter of 2012 of $1.25 represented a decrease of 2.5% from the second quarter of 2012 and a decrease of 11.5% compared to the third quarter of 2011. The average GBP/USD exchange rate for the third quarter of 2012 of $1.58 represented a decrease of 0.1% from the second quarter of 2012 and a decrease of 1.9% compared to the third quarter of 2011.
• During the third quarter of 2012, a total of 4.7 million shares were repurchased at an average price of $25.46. The current stock repurchase authorization has $128 million remaining as of September 30, 2012.   As a result of these repurchases, the weighted average diluted shares outstanding in the third quarter of 2012 was 247 million shares.        

Please click here for the Monthly Transaction Activity Data Table.