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NYSE Euronext Announces Trading Volumes For September 2010 And Other Metrics - Global Derivatives Averaged 7.7 Million Contracts Per Day In September, Up 5% Vs. Prior Year And Up 23% From August 2010 Levels - European And U.S. Cash Trading Volumes Down Vs

Date 07/10/2010

NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for September 2010[1]. Global derivatives average daily volume ("ADV") of 7.7 million contracts traded per day in September 2010 increased 4.8% versus the prior year and increased 22.5% from August 2010 levels. The increase in global derivatives ADV versus prior year levels was driven by a 15.9% increase in U.S. equity options ADV, partially offset by a 2.7% decrease in European derivatives ADV. Cash equities ADV in September 2010 were down, with European and U.S. cash trading volumes decreasing 5.2% and 24.6%, respectively, compared to prior year levels.

 

[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.

Highlights

 

  • NYSE Euronext global derivatives ADV in September 2010 of 7.7 million contracts increased 4.8% compared to September 2009 and increased 22.5% from August 2010 levels. Open interest for our European derivatives businesses at the end of September 2010 was 76.9 million contracts, a decrease of 0.7% compared to September 2009. European derivatives fixed income open interest of 25.1 million contracts was up 7.7% compared to September 2009.
  • NYSE Euronext European derivatives products ADV in September 2010 of 4.2 million contracts decreased 2.7% compared to September 2009, but increased 28.8% from August 2010 levels. Total European fixed income products ADV in September 2010 of 2.2 million contracts decreased 2.3% compared to September 2009, but increased 35.9% from August 2010. Total equity products ADV of 1.9 million contracts in September 2010 decreased 4.4% compared to September 2009, but increased 23.2% from August 2010. Total commodities products ADV of 77,000 contracts in September 2010 increased 47.8% compared to September 2009.
  • NYSE Euronext U.S. equity options (NYSE Arca and NYSE Amex) ADV of 3.5 million contracts in September 2010 increased 15.9% compared to September 2009 levels and increased 15.5% from August 2010. NYSE Euronext's U.S. options exchanges accounted for 26.1% of the total consolidated equity options trading in September 2010, up from 21.4% in September 2009 and up from the 25.2% recorded in August 2010.
  • NYSE Euronext European cash products ADV of 1.4 million transactions in September 2010 decreased 5.2% compared to September 2009, but increased 9.5% from August 2010.
  • NYSE Euronext U.S. cash products (NYSE, NYSE Arca and NYSE Amex) handled ADV of 2.3 billion shares in September 2010 decreased 24.6% compared to September 2009 and decreased 0.8% compared to August 2010. NYSE Euronext's Tape A matched market share in September 2010 was 38.4%, up from 36.1% in September 2009 and up from 38.1% in August 2010.
  • There were a total of 22 trading days in Europe and 21 trading days the U.S. in September 2010 and September 2009, respectively.
  • The estimated average net revenue per transaction type (as defined below) for each of the primary trading venues in the third quarter of 2010 is included below:

 

2Q10 Actual 3Q10 Estimate
European Derivatives (ex. Bclear)[1] $0.64 $0.65
U.S. Equity Options[2] $0.17 $0.17
European Cash[3] $0.65 $0.66
U.S. Cash[4] $0.030

$0.031

[1] Average net revenue per contract, excluding Bclear.
[2] Average net revenue per contract.
[3] Average net revenue per transaction.
[4] Average net revenue per 100 shares handled.

Derivatives Trading

European Derivatives

 

  • NYSE Euronext European derivatives products ADV in September 2010 was 4.2 million futures and options contracts, a decrease of 2.7% from September 2009, but an increase of 28.8% from August 2010. The 4.2 million in futures and options contracts ADV in September 2010 consisted of 3.3 million contracts executed through our full-service LIFFE CONNECT trading platform and 0.9 million contracts, or 21.1%, executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products. In the third quarter of 2010, European derivatives products ADV of 3.8 million contracts was 0.6% above prior year levels. The 3.8 million in futures and options contracts ADV in the third quarter of 2010 consisted of 3.0 million contracts executed through LIFFE CONNECT trading platform and 0.8 million contracts, or 22.1%, executed through Bclear.
  • The anticipated average net rate per contract for European derivatives, excluding Bclear, is expected to be approximately $0.65 per contract in the third quarter of 2010.
  • Year-to-date, European derivatives products ADV of 5.1 million contracts was 22.6% above prior year levels. The 5.1 million in futures and options contracts ADV year-to-date consisted of 3.6 million contracts executed through the LIFFE CONNECT trading platform and 1.5 million contracts, or 29.1%, executed through Bclear.
  • Total fixed income products ADV of 2.2 million contracts in September 2010 decreased 2.3% from September 2009, but increased 35.8% from August 2010. In the third quarter of 2010, total fixed income products ADV of 2.0 million contracts was 2.3% above prior year levels. Year-to-date, total fixed income products ADV of 2.4 million contracts was 20.8% above prior year levels.
  • Total equity products (including Bclear) ADV of 1.9 million contracts in September 2010 decreased 4.4% compared to September 2009, but increased 23.2% from August 2010. The 1.9 million contracts in equity products ADV consisted of 1.3 million contracts in individual equity products ADV and 0.6 million contracts in equity index products ADV. The 1.3 million contracts in individual equity products ADV consisted of 0.7 million in futures contracts, which represented a 19.5% increase compared to September 2009 and 0.6 million in options contracts, which represented a 19.1% decrease compared to September 2009. The average rate per contract for individual equity futures contracts is significantly lower than other products traded on NYSE Liffe. In the third quarter of 2010, total equity products ADV of 1.8 million contracts was 3.1% below prior year levels. Year-to-date, total equity products ADV of 2.6 million contracts was 24.0% above prior year levels.
  • Total commodities products ADV of 77,000 contracts in September 2010 increased 47.8% compared to September 2009. In the third quarter of 2010, total commodities product ADV of 81,000 contracts was 74.4% above prior year levels. Year-to-date, total commodities product ADV of 63,000 contracts was 34.2% above prior year levels.

 

U.S. Derivatives

 

  • NYSE Euronext U.S. equity options (NYSE Arca and NYSE Amex) ADV of 3.5 million contracts in September 2010 increased 15.9% compared to September 2009 and increased 15.5% compared to August 2010. In the third quarter of 2010, U.S. equity options ADV of 3.2 million contracts was 23.6% above prior year levels.
  • The anticipated average net rate per contract for U.S. equity options is expected to be approximately $0.17 per contract in the third quarter of 2010.
  • Year-to-date, U.S. equity options ADV of 3.7 million contracts was 46.9% above prior year levels.
  • Total U.S. consolidated equity options ADV decreased 4.8% to 13.3 million contracts in September 2010 compared to September 2009, but increased 11.7% compared to August 2010. In the third quarter of 2010, U.S. consolidated equity options ADV of 12.5 million contracts was 5.6% below prior year levels. Year-to-date, U.S. consolidated equity options ADV of 14.0 million contracts was 3.8% above prior year levels.
  • NYSE Euronext's U.S. options exchanges accounted for 26.1% of the total consolidated equity options trading in September 2010, up from 21.4% in September 2009 and up from 25.2% in August 2010.
  • NYSE Euronext U.S. futures and futures options (NYSE Liffe U.S.) ADV in September 2010 was approximately 10,800 contracts, compared to 20,600 contracts in September 2009. In the third quarter of 2010, U.S. futures and futures options ADV was 10,700 contracts. Year-to-date U.S. futures and futures options ADV was 16,600 contracts, an increase of 0.3% compared to the prior year period.

 

Cash Trading

European Cash

 

  • NYSE Euronext European cash products ADV of 1.4 million transactions in September 2010 decreased 5.2% compared to September 2009, but increased 9.5% compared to August 2010. In the third quarter of 2010, European cash products ADV of 1.4 million transactions was 3.4% above prior year levels.
  • SmartPool, the London-based dark pool owned by NYSE Euronext with BNP Paribas SA, HSBC Holdings Plc and JPMorgan Chase & Co., experienced strong growth in the third quarter of 2010 with the number of trades increasing to 855,770 from 3,141 in the third quarter of 2009 and 541,743 in the second quarter of 2010.
  • The anticipated average net revenue per transaction for European cash is expected to be approximately $0.66 per transaction in the third quarter of 2010.
  • Year-to-date, European cash products ADV of 1.5 million transactions was 7.3% above prior year levels.

 

U.S. Cash

 

  • NYSE Euronext U.S. cash products handled ADV in September 2010 decreased 24.6% to 2.3 billion shares compared to September 2009 and decreased 0.8% from August 2010. In the third quarter of 2010, U.S. cash products handled ADV was 2.4 billion shares, down 18.1% from prior year levels.
  • The anticipated average net revenue per 100 shares handled for U.S. cash is expected to be approximately $0.031 per 100 shares handled in the third quarter of 2010.
  • Year-to-date, U.S. cash products handled ADV was 2.7 billion shares, down 22.8% from prior year levels.
  • NYSE Euronext's Tape A matched market share in September 2010 was 38.4%, up from 36.1% in September 2009 and up from 38.1% in August 2010.
  • Designated Market Maker participation in NYSE-listed stocks in September 2010 was 9.4%, compared to 9.8% in August 2010 and 9.6% in July 2010. Supplemental Liquidity Provider participation in NYSE-listed stocks in September 2010 was 12.4%, compared to 12.2% in August 2010 and 13.1% in July 2010. DMM and SLP participation pertain only to trading on NYSE.

 

Exchange Traded Products

 

  • NYSE Euronext U.S. matched exchange-traded products ADV (included in volumes for Tape B and Tape C) of 301 million shares in September 2010 decreased 5.0% compared to September 2009 and decreased 0.2% compared to August 2010. In the third quarter of 2010, NYSE Euronext U.S. matched exchange-traded products ADV of 334 million shares was 0.4% below prior year levels. Year-to-date, NYSE Euronext U.S. matched exchange-traded products ADV of 352 million shares was 27.8% below prior year levels.

 

Other Metrics

 

  • The average EUR/USD exchange rate for the third quarter of 2010 of $1.29 represented an increase of 1.4% from the second quarter of 2010 and a decrease of 9.7% compared to the third quarter of 2009.
  • The average GBP/USD exchange rate for the third quarter of 2010 of $1.55 represented an increase of 3.9% from the second quarter of 2010 and a decrease of 5.5% compared to the third quarter of 2009.

 

Please click here for the Monthly Transaction Activity Data Table.

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