UPDATE: NYSE Euronext Reports Record Derivatives Trade For May
04 Giugno 2010 - 3:01PM
Dow Jones News
Transatlantic stock market operator NYSE Euronext (NYX) reported
Friday a surge in futures and options trade on both sides of the
Atlantic, with global turmoil driven by sovereign debt fears in
Europe pushing trade to record levels.
NYSE Euronext saw a 56.6% rise in contract volume for its U.K.
interest-rate futures markets, a line of business hit hard by the
financial crisis in 2008, while stateside stock options trading
nearly doubled amid the busiest month on record for the U.S.
options industry.
Combined derivatives businesses in Europe and U.S. averaged an
all-time record 13.3 million contracts traded a day in May, NYSE
Euronext said in a Friday report.
Deutsche Boerse AG (DB1.XE), which also operates European
derivatives markets alongside a presence in U.S. options, earlier
this week reported average turnover of 16.2 million contracts per
day in May; sector leader CME Group Inc. (CME) averaged 16.8
million contracts.
The ongoing credit issues faced by European nations has driven
investors in droves to hedge risk in the world's major derivatives
markets, helping drive a rebound in trading activity after volumes
slumped in the wake of the financial crisis.
NYSE Euronext's European derivatives average daily volume
increased 51.5%, driven by a 56.6% rise in futures contracts tied
to key interest rates, alongside a 48.8% increase in stock-linked
derivatives products.
Average daily volume on its U.S. options platforms increased
90.3%, while market share rose to 26%, NYSE Euronext said.
The massive moves in the U.S. stock market May 6 also stoked
market fears and prompted heavy turnover in stocks around the
globe. NYSE Euronext's European cash trading volumes in May climbed
37.3% compared with the prior-year period.
U.S. stock trading volumes of 3.8 billion shares in May 2010
jumped 33.5% over April levels, pushing NYSE Euronext's share of
the market to about 29%, up from 26% the previous month as more
investors shifted activity to exchanges.
The jump in customers' stock-trading activity for the month saw
more traders hit volume targets, which ended up lowering NYSE
Euronext's average net capture rate for the business, the company
said.
-By Elena Berton and Jacob Bunge, Dow Jones Newswires; +33 1
4017 1765; elena.berton@dowjones.com
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