NYX Nyse Euronext

The top executive of NYSE Euronext (NYX) said the exchange operator seeks to play a central role in broadening consumers' knowledge of saving, borrowing and spending at a critical time for the U.S. economy.

Duncan Niederauer, NYSE Euronext's CEO, is leading an effort to make companies central to expanding financial literacy among their employees, with a new Web site devoted to the cause debuting this month.

"There could not be a more important time to focus on financial literacy," Niederauer said at the Chicago Federal Reserve Monday, speaking at the bank's ninth annual Money Smart Week.

"Most companies are good about having employees come in and talk about managing for retirement, but that's only part of the equation," said Niederauer. He called for employers to lead a broader discussion incorporating workers' annual earnings, savings rates, and prudent debt levels.

NYSE Euronext is working with companies listed on the exchange, which employ almost 40 million people in the U.S., along with other companies, he said.

According to Niederauer, more than one-fifth of Americans do not use banks, leading them to fall back on high-cost alternatives like payday loan services to meet their financial obligations.

Over half of Americans do not have a rainy-day fund in case of emergencies, Niederauer said, and nearly 60% do not save money for their children's college education.

Niederauer's remarks came as NYSE Euronext has introduced a new Web site, NYSE Money Sense, aiming to nurture consumers' basic financial knowledge. The site gathers personal finance experts to offer advice on topics ranging from personal income tax to retirement savings, and rates sources of personal finance information.

The exchange operator has also teamed with the Securities and Exchange Commission on a program to boost schoolteachers' capital market knowledge.

"This is a situation where the economy's fragile, people are stressed about finances, and unemployment, while stable, is still very high, and we felt it was important to take action and empower individuals," Niederauer said.

-By Jacob Bunge, Dow Jones Newswires; (312) 750 4117; jacob.bunge@dowjones.com

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