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- Euronext: Second busiest month ever & record half-year, +42.8% y-o-y on a daily average basis
- NYSE Group: new record volume day, month and quarter
- Liffe: Busiest month ever & record half-year, +38.2% y-o-y on a daily average basis
- NYSE Arca Options: total volume up over 50% y-t-d, average daily volume up 89% y-o-y
NYSE Euronext (NYSE Euronext: NYX) today announced transaction activity data(1) for its six cash equities exchanges and six derivatives exchanges. As the world's leading and most diversified global exchange group, NYSE Euronext operates the world's largest and most liquid cash equities market centers.
CASH PRODUCTS
Euronext
-- Euronext's cash markets registered their second busiest month
ever with 27.1 million transactions completed in June 2007, up
36.3% from the same month last year. This represents a record
average daily volume of 1.3 million, up 42.8% on June 2006. In
total, 148.7 million cash transactions were registered on
Euronext since the beginning of the year, up 27.9% from the
same period in 2006, a record half-year.
-- Euronext reported 26 million transactions registered in
Equities in June 2007, up 36.6% from the same month last year,
representing a record daily average of 1.2 million
transactions, up 43.1% year-on-year.
-- Year-on-year average daily transactions on Euronext were up
113.4% on Exchange-Traded Funds, up 32.3% on Structured
Products, which include warrants and certificates, and up
20.8% on Bonds.
NYSE Group
-- NYSE Group exchanges reported 2.9 billion shares handled(2)
per day, up 8.9% year-to-date.
-- NYSE Group's operations in NYSE-listed securities reported 2.3
billion shares handled per day, up 12.4% from the same month
last year and 11.3% year-to-date.
-- As the largest liquidity pool for ETFs, NYSE Group's
operations in ETF trading reported 292 million shares handled
daily, up 26.2% from the same period last year and 31.8%
year-to-date.
-- NYSE Group volume reached a new all-time record with nearly
5.2 billion shares traded on Friday, June 22, 2007, including
record Crossing Session II volume of nearly 1.4 billion shares
traded. NYSE Group exchanges also registered new monthly and
quarterly record volumes in June with 60.7 billion shares
traded during the month and 166.3 billion shares traded during
the quarter.
LISTINGS
NYSE Euronext
-- There were 39 new listings (IPOs, closed-end funds and
transfers) and 12 new ETF listings on NYSE Euronext's markets
in June 2007.
Euronext
-- There were 18 IPOs on Euronext's markets in June 2007,
including 6 new listings on Alternext. This brings the total
number of IPOs listed since the beginning of the year to a
record of 70, with EUR 3.9/$5.3 billion raised in connection
with listing, as compared to 62 during the same period in
2006. Additionally, 6 new ETFs were listed on NextTrack in
June 2007.
NYSE Group
-- In June, there were 27 new listings on NYSE Group markets,
including 6 ETFs. These listings included 6 domestic IPOs by
operating companies raising $5.1/EUR 3.8 billion, 3
international IPOs raising $2.8/EUR 2.1 billion, 1
international transfer to the NYSE from Nasdaq and 4 domestic
spin-offs. These listings also included 7 closed-end funds
raising $3.4/EUR 2.5 billion as compared to 2 funds raising
$785/EUR 581.3 million in June of 2006.
-- In June, the New York Stock Exchange served as the premier
gateway for India-based companies raising capital in the U.S.
with two of the largest offerings by Indian companies: ICICI
and Sterlite Industries raising $6.0/EUR 4.4 billion.
DERIVATIVES PRODUCTS
Liffe
-- Liffe experienced its busiest month ever trading 89.8 million
futures and options contracts in June 2007, up 31.9% on the
same month in 2006 and up 38.2% on a daily average basis, and
over 452 million contracts year-to-date, up 16.9% on the same
period last year. June 7 was Liffe's busiest day ever, with
8.9 million futures and options contracts, beating the
previous record of 6.9 million contracts on March 13, 2007.
-- Bclear, Liffe's wholesale equity derivatives administration
and clearing service, processed a record 16.7 million
contracts during the month and is up 95.6% year-to-date.
-- Interest rate products traded over 46 million contracts in
June and over 238 million contracts year-to-date, up 13.5%
from the same period in 2006. Liffe's flagship contract, the
Three Month Euribor Future, traded a record monthly volume of
21.9 million contracts.
-- Equity products traded over 42 million contracts in the month,
up 42.3% on June 2006, and more than 207 million contracts
year-to-date, up 20.7% year-on-year. Liffe's Universal Stock
Futures had their busiest month ever, trading 12.6 million
contracts.
-- Liffe's Commodity products had a record month trading 1.2
million contracts.
NYSE Arca
-- NYSE Arca reported 1.2 million equity option contracts
executed per day in June 2007, up 89% from the same month last
year, and up 5.6% from May 2007.
-- From January 1 through June 29, 2007, NYSE Arca Options
achieved a 62% increase in its share of trading in the SEC
penny pilot issues. Average daily volume in the penny pilot
issues has increased 106% to 227 thousand contracts per day in
June, up from 110 thousand contracts per day in January 2007.
-- In June, NYSE Arca Options began trading index options for the
first time with nearly 13,500 contracts traded.
ADDITIONAL BUSINESS HIGHLIGHTS
-- On June 12, the launch of four new Exchange Traded Funds on
Euronext raised the number listed on NextTrack, Euronext's
market segment dedicated to ETFs, to over 200, with nearly 150
underlying indices.
-- On June 19, Euronext rounded out its index offering with
covered call and protective put strategy indices. The launch
of these new indices reflects Euronext's continuing commitment
to providing investors, asset managers and structured product
issuers with effective tools that match their needs and market
trends.
-- On June 27, the number of companies listed on Alternext
reached 100, confirming the market's role as a benchmark for
small and mid-size companies. In just over two years,
companies have raised more than EUR 1.0/$1.4 billion in
connection with listing on Alternext. The companies listed on
Alternext cover a wide range of sectors and represent a total
global market capitalization of over EUR 5.0/$6.8 billion (as
of June 27).
-- On June 28, Liffe announced that from Monday, August 20, it
will introduce a new trade matching algorithm for its Short
Term Interest Rate futures contracts. Liffe is seeking to
increase opportunities for market participants through the
introduction of this new trade matching algorithm.
-- On June 11, New York Stock Exchange floor brokers and
appropriately registered and supervised floor broker staff
received SEC approval to handle all securities from their
booth premises, including those listed on other markets.
Focused on being responsive to the needs of the trading
community as the marketplace changes and industry competition
intensifies, the NYSE is committed to ensuring that brokers
and specialists have the tools to more competitively and
aggressively represent customers while adding value to
transactions both on and off the NYSE floor.
-- In June, NYSE Arca Options submitted its report and
recommendations to the SEC detailing the success and benefits
to the investing public of the SEC's industry-wide penny pilot
program. NYSE Arca and the options industry experienced a
number of key market quality improvements with respect to the
13 option classes trading in the pilot program, including
spreads tightening 45-61%. Additionally, NYSE Arca's quote
mitigation plan reduced average daily quote traffic by 13%, or
12.1 million quotes, which more than offset the increase in
quoting in the penny classes.
-- During the 1st half of 2007, the NYSE has implemented several
changes to its trading systems and infrastructure that has
greatly reduced order flow latency from approximately 290
milliseconds (ms) to less than 100 ms. A new Common Customer
Gateway (CCG) replacing the Common Message Switch (CMS) for
interfacing to the NYSE trading systems will begin
implementation in the 4th quarter of 2007. Leveraging the
high-performance TCM messaging server developed by NYSE
TransactTools, this new gateway further strengthens NYSE
Group's infrastructure for high volume, and even lower-latency
electronic trading by year-end.
-- NYSE TransactTools(SM) announced the launch of SFTI FIX, a
network connecting over 800 market participants, including all
of the NMS markets in the United States, enabling industry
standard FIX protocol message exchange over the SFTI(R)
network backbone. Laying the foundation for a series of
soon-to-be-launched innovations that will enhance the NYSE
TransactTools technology offering and breadth of coverage,
SFTI FIX provides customers with the most efficient access to
global liquidity from anywhere in the world.
-- In a decision initiated by specialist firms and in conjunction
with issuers, NYSE-listed exchange traded funds (ETFs) have
begun the process to transfer their primary listing from NYSE
to NYSE Arca. After significant consultation with issuers,
specialists and market participants, NYSE Group concluded that
the most efficient and industry-preferred market structure for
trading ETFs is the NYSE Arca trading platform, which utilizes
dedicated liquidity providers in the form of Lead Market
Makers (LMMs) and Market Makers (MMs).
-- NYSE Euronext held its first annual shareholder meeting on
June 7. At that meeting shareholders who cast votes elected
the full slate of directors to its Board and ratified the
appointment of PricewaterhouseCoopers as the company's
independent registered public accounting firm for 2007.
-- On June 6, 2007, the Board of Directors of NYSE Euronext
declared an annual cash dividend of $1.00 per share, payable
on a quarterly basis. The first quarterly dividend of $0.25
will be paid on July 13, 2007 to shareholders of record as of
the close of business on June 28, 2007.
Based on first-quarter 2007 pro forma combined revenues for the quarter ended March 31, 2007, NYSE Euronext (excluding activity assessment fees, liquidity payments, and routing and clearing fees) revenues from NYSE Euronext's primary business activities are represented below as a percentage of total net revenues: Derivatives revenues account for 22% European cash trading accounts for 16% U.S. cash trading accounts for 10% Market data accounts for 15% Listing fees account for 13% On June 29, 2007: EUR 1 = $1.3505
Appendix: NYSE Euronext Markets Tables
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE Euronext: NYX) operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.8 trillion/EUR 22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/EUR 94.0 billion (as of June 29, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
Cautionary Note Regarding Forward-Looking Statements
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 2006 ("document de reference") filed with the French Autorite des Marches Financiers (Registered on June 6, 2007 under No. R.07-0089), 2006 Annual Report on Form 10-K, as amended, and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorite des Marches 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.
The following are trade marks of Euronext and may not be used without obtaining a license from Euronext: CAC(R), CAC 40(R), AEX(R), AEX-index(R), BEL 20(R), PSI 20(R), EURONEXT(R), LIFFE CONNECT(R), TRACKER(R).
FLEX(R) is a registered trademark of the Chicago Board Options Exchange Inc. and has been licensed for use by LIFFE.
(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.
(2) Handled shares represent the total number of shares of equity securities internally matched on the NYSE Group's exchanges or routed to and executed at an external market center.
NYSE Euronext
Monthly Volume Summary - Cash Products
----------------------------------------------------------------------
Average Daily Total Volume Total Volume
Volume
------------------ -------------------- --------------
% Chg
vs.
Jun- Jun- YTD YTD
(Unaudited) 07 06 % Chg Jun-07 Jun-06 % Chg 2007 2006
----- ----- ------ ------ ------ ------ ------- ------
Number of
Trading Days -
European
Markets 21 22 21 22 126
Number of
Trading Days -
U.S. Markets 21 22 21 22 124
European Cash
Products
(trades in
thousands) 1,292 905 42.8% 27,131 19,906 36.3% 148,714 27.9%
Equities 1,238 865 43.1% 26,007 19,039 36.6% 142,280 28.2%
Exchange-
Traded Funds 6 3 113.4% 116 57 103.7% 658 79.3%
Structured
Products 40 30 32.3% 847 671 26.2% 4,898 20.1%
Bonds 8 6 20.8% 162 140 15.3% 877 -1.2%
U.S. Cash
Products
(shares in
millions)
NYSE Listed
Issues (1)
NYSE Group
Handled
Volume (2) 2,299 2,045 12.4% 48,271 44,981 7.3% 266,765 11.3%
NYSE Group
Matched
Volume (3) 2,150 2,006 7.2% 45,143 44,135 2.3% 250,460 6.5%
NYSE Group
TRF Volume
(4) 32 - - 682 - - 1,060 -
Total NYSE
Listed
Consolidated
Volume 3,347 2,674 25.2% 70,283 58,827 19.5% 386,579 23.4%
NYSE Group
Share of
Total
Consolidated
Volume
Handled
Volume (2) 68.7% 76.5% 68.7% 76.5% 69.0%
Matched
Volume (3) 64.2% 75.0% 64.2% 75.0% 64.8%
TRF Volume
(4) 1.0% - 1.0% - -
NYSE Arca &
Amex Listed
Issues
NYSE Group
Handled
Volume (2) 216 165 31.1% 4,537 3,625 25.2% 21,196 32.6%
NYSE Group
Matched
Volume (3) 188 144 30.5% 3,938 3,160 24.6% 18,279 31.9%
NYSE Group
TRF Volume
(4) 19 - - 408 - - 638 -
Total NYSE
Arca & Amex
Listed
Consolidated
Volume 568 436 30.4% 11,938 9,589 24.5% 55,772 18.1%
NYSE Group
Share of
Total
Consolidated
Volume
Handled
Volume (2) 38.0% 37.8% 38.0% 37.8% 38.0%
Matched
Volume (3) 33.0% 33.0% 33.0% 33.0% 32.8%
TRF Volume
(4) 3.4% - 3.4% - -
Nasdaq Listed
Issues
NYSE Group
Handled
Volume (2) 430 522 -17.7% 9,022 11,484 -21.4% 57,484 -10.2%
NYSE Group
Matched
Volume (3) 346 432 -20.1% 7,258 9,511 -23.7% 46,989 -9.8%
NYSE Group
TRF Volume
(4) 155 - - 3,253 - - 6,078 -
Total Nasdaq
Listed
Consolidated
Volume 2,219 2,123 4.5% 46,601 46,708 -0.2% 268,661 1.1%
NYSE Group
Share of
Total
Consolidated
Volume
Handled
Volume (2) 19.4% 24.6% 19.4% 24.6% 21.4%
Matched
Volume (3) 15.6% 20.4% 15.6% 20.4% 17.5%
TRF Volume
(4) 7.0% - 7.0% - -
Exchange-Traded
Funds (1,5)
NYSE Group
Handled
Volume (2) 292 231 26.2% 6,135 5,092 20.5% 28,763 31.8%
NYSE Group
Matched
Volume (3) 258 210 23.1% 5,416 4,611 17.5% 25,716 31.0%
NYSE Group
TRF Volume
(4) 29 - - 603 - - - -
Total ETF
Consolidated
Volume 677 527 28.4% 14,227 11,604 22.6% 66,208 29.9%
NYSE Group
Share of
Total
Consolidated
Volume
Handled
Volume (2) 43.1% 43.9% 43.1% 43.9% 43.4%
Matched
Volume (3) 38.1% 39.7% 38.1% 39.7% 38.8%
TRF Volume
(4) 4.2% - 4.2% - -
NYSE Euronext
----------------------------------------------------------------------
Monthly Volume Summary - Derivatives Products
----------------------------------------------------------------------
Average Daily Total Volume
Volume
------------------ ----------------------
(Unaudited; contracts in Jun- Jun-
thousands) 07 06 % Chg Jun-07 Jun-06 % Chg
----- ----- ------ ------- ------- ------
Number of Trading Days -
European Markets 21 22 21 22
Number of Trading Days -
U.S. Markets 21 22 21 22
European Derivatives
Products 4,276 3,093 38.2% 89,796 68,054 31.9%
Total Interest Rate Products 2,203 1,701 29.5% 46,262 37,419 23.6%
Short Term Interest Rate
Products 2,075 1,614 28.6% 43,585 35,505 22.8%
Medium and Long Term
Interest Rate Products 127 87 46.5% 2,676 1,914 39.8%
Total Equity Products (6) 2,014 1,351 49.0% 42,295 29,732 42.3%
Individual Equity
Products 1,334 735 81.5% 28,022 16,172 73.3%
Equity Index Products 680 616 10.3% 14,273 13,560 5.3%
of which Bclear 795 264 200.7% 16,697 5,816 187.1%
Individual Equity
Products 702 183 284.0% 14,734 4,019 266.6%
Equity Index
Products 93 82 14.4% 1,963 1,797 9.2%
Commodity Products 57 39 45.1% 1,201 867 38.5%
Currency Products 2 2 11.9% 38 35 6.8%
U.S. Derivatives Products -
Equity Options (7)
NYSE Arca Options
Contracts 1,180 624 89.0% 24,771 13,727 80.5%
Total Consolidated Options
Contracts 9,593 6,876 39.5% 201,454 151,272 33.2%
NYSE Group Share of Total 12.3% 9.1% 12.3% 9.1%
Total Volume
--------------------
% Chg vs.
(Unaudited; contracts in thousands) YTD 2007 YTD 2006
---------- ---------
Number of Trading Days - European Markets 126
Number of Trading Days - U.S. Markets 124
European Derivatives Products 452,243 16.9%
Total Interest Rate Products 238,166 13.5%
Short Term Interest Rate Products 223,580 12.8%
Medium and Long Term Interest Rate Products 14,586 25.3%
Total Equity Products (6) 207,895 20.7%
Individual Equity Products 133,944 22.9%
Equity Index Products 73,951 16.9%
of which Bclear 65,450 95.6%
Individual Equity Products 56,009 116.1%
Equity Index Products 9,441 25.1%
Commodity Products 5,940 28.6%
Currency Products 241 34.9%
U.S. Derivatives Products - Equity Options (7)
NYSE Arca Options Contracts 139,725 50.8%
Total Consolidated Options Contracts 1,137,469 24.1%
NYSE Group Share of Total 12.3% 2.2%
(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) Represents NYSE's volume in NASD/NYSE Trade Reporting Facility
(TRF).
(5) Data included in previously identified categories.
(6) Includes all trading activities for Bclear, Euronext.liffe's
clearing service for wholesale equity 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.
