NYX Nyse Euronext

NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for June 20121. Trading volumes in June 2012 were mostly down year-over-year and month-over-month with the exception of European cash trading, which increased 9.9% compared to the prior year and increased 3.5% compared to May 2012. For the second quarter, trading volumes increased from weak first quarter 2012 levels.

Highlights

• NYSE Euronext global derivatives ADV in June 2012 of 8.3 million contracts decreased 5.9% compared to June 2011 and decreased 10.6% from May 2012 levels.
• NYSE Euronext European derivatives products ADV in June 2012 of 4.6 million contracts decreased 0.8% compared to June 2011 and decreased 8.5% from May 2012. Excluding Bclear, NYSE Liffe's trade administration and clearing service for OTC products, European derivatives products ADV decreased 11.6% compared to June 2011 and decreased 4.8% from May 2012 levels.
• NYSE Euronext U.S. equity options ADV of 3.6 million contracts in June 2012 decreased 11.7% compared to June 2011 levels and decreased 13.8% from May 2012. NYSE Euronext’s U.S. options exchanges accounted for 25.6% of total U.S. consolidated equity options trading in June 2012, down from 26.4% in June 2011 and down from 26.7% in May 2012.
• NYSE Liffe U.S. ADV of approximately 90,900 contracts decreased from 97,500 contracts in June 2011, but increased from 68,300 contracts in May 2012.
• NYSE Euronext European cash products ADV of 1.7 million transactions in June 2012 increased 9.9% compared to June 2011 and increased 3.5% from May 2012 levels.
• NYSE Euronext U.S. cash products handled ADV of 1.8 billion shares in June 2012 decreased 14.7% compared to June 2011 and decreased 2.8% compared to May 2012. NYSE Euronext’s Tape A matched market share in June 2012 was 32.3%, down from 36.6% in June 2011, but up from 31.9% in May 2012.

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

                                  Preliminary Trading Venue 4Q11       1Q12       2Q12 European Derivatives (ex. Bclear)1 $0.698 $0.659 $0.67   U.S. Derivatives2 $0.148 $0.148 $0.15   European Cash3 $0.582 $0.573 $0.51   U.S. Cash4 $0.039       $0.043       $0.042 1 Average net revenue per contract, excluding Bclear. 2 Average net revenue per contract. Excludes NYSE Liffe U.S. trading volume. 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 June 2012 of 4.6 million contracts decreased 0.8% compared to June 2011 and decreased 8.5% from May 2012 levels.
• The 4.6 million in European derivatives futures and options contracts ADV in June 2012 consisted of 2.9 million contracts executed through our full-service LIFFE CONNECT trading platform and 1.7 million contracts, or 37.3%, 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 11.6% compared to June 2011 and decreased 4.8% compared to May 2012.
• In the second quarter of 2012, European derivatives products ADV of 4.7 million contracts was 12.1% below prior year levels. The 4.7 million in futures and options contracts ADV in the second quarter of 2012 consisted of 2.9 million contracts executed through LIFFE CONNECT trading platform and 1.7 million contracts, or 37.5%, executed through Bclear.
• Year-to-date, European derivatives products ADV of 4.0 million contracts was 19.7% below prior year levels. The 4.0 million in futures and options contracts ADV year-to-date consisted of 2.8 million contracts executed through LIFFE CONNECT trading platform and 1.2 million contracts, or 30.1%, executed through Bclear.
• Total fixed income products ADV of 1.9 million contracts in June 2012 decreased 11.1% from June 2011 and decreased 9.0% from May 2012. In the second quarter of 2012, total fixed income products ADV of 2.0 million contracts was 9.0% below prior year levels. Year-to-date, total fixed income products ADV of 1.9 million contracts was 23.2% below prior year levels.
• Total equity products (including Bclear) ADV of 2.6 million contracts in June 2012 increased 9.0% compared to June 2011, but decreased 8.6% from May 2012. The 2.6 million contracts in equity products ADV in June 2012 consisted of 2.0 million contracts in individual equity products ADV and 0.6 million contracts in equity index products ADV. The 2.0 million contracts in individual equity products ADV consisted of 1.5 million in futures contracts, which represented a 29.8% increase compared to June 2011 and 0.5 million in options contracts, which represented a 16.6% decrease compared to June 2011. The average net rate per contract for individual equity futures contracts is significantly lower than other European derivatives products. In the second quarter of 2012, total equity products ADV of 2.6 million contracts were 14.4% below prior year levels. Year-to-date, total equity products ADV of 2.0 million contracts was 16.7% below prior year levels.
• Total commodities products ADV of approximately 82,000 contracts in June 2012 decreased 12.6% compared to June 2011, but increased 11.3% compared to May 2012. In the second quarter of 2012, total commodities product ADV of 78,000 contracts was 7.1% below prior year levels. Year-to-date, total commodities product ADV of 80,000 contracts was 7.2% below prior year levels.

U.S. Derivatives

• NYSE Euronext U.S. equity options ADV of 3.6 million contracts in June 2012 decreased 11.7% compared to June 2011 and decreased 13.8% compared to May 2012. In the second quarter of 2012, U.S. equity options ADV of 3.9 million contracts was 3.4% below prior year levels. Year-to-date, U.S. equity options ADV of 4.0 million contracts was 5.0% below prior year levels.
• Total U.S. consolidated equity options ADV decreased 8.9% to 14.2 million contracts in June 2012 compared to June 2011 and decreased 9.9% compared to May 2012. In the second quarter of 2012, U.S. consolidated equity options ADV of 14.9 million contracts was 5.4% below prior year levels. Year-to-date, U.S. consolidated equity options ADV of 15.4 million contracts was 6.9% below prior year levels.
• NYSE Euronext’s U.S. options exchanges accounted for 25.6% of total U.S. consolidated equity options trading in June 2012, down from 26.4% in June 2011 and down from 26.7% in May 2012.
• NYSE Liffe U.S. ADV of approximately 90,900 contracts decreased from 97,500 contracts in June 2011, but increased from 68,500 contracts in May 2012. In the second quarter of 2012, U.S. futures and futures options ADV of 73,400 contracts was 21.5% below prior year levels. Year-to-date, U.S. futures and futures options ADV of 84,700 contracts was 48.1% above prior year levels.

Cash Trading

European Cash

• NYSE Euronext European cash products ADV of 1.7 million transactions in June 2012 increased 9.9% compared to June 2011 and increased 3.5% compared to May 2012.
• In the second quarter of 2012, European cash products ADV of 1.7 million transactions was 11.0% above prior year levels.
• Year-to-date, European cash products ADV of 1.6 million transactions was 1.7% below prior year levels.

U.S. Cash

• NYSE Euronext U.S. cash products handled ADV in June 2012 decreased 14.7% to 1.8 billion shares compared to June 2011 and decreased 2.8% from May 2012.
• In the second quarter of 2012, U.S. cash products handled ADV was 1.8 billion shares, down 12.3% from prior year levels.
• Year-to-date, U.S. cash products handled ADV was 1.8 billion shares, down 17.8% from prior year levels.
• NYSE Euronext’s Tape A matched market share in June 2012 was 32.3%, down from 36.6% in June 2011, but up from 31.9% in May 2012.

Exchange Traded Funds

• NYSE Euronext U.S. matched exchange-traded funds ADV (included in volumes for Tape B and Tape C) of 245 million shares in June 2012 decreased 16.2% compared to June 2011 and decreased 2.6% compared to May 2012.
• In the second quarter of 2012, NYSE Euronext U.S. matched exchange-traded funds ADV of 238 million shares was 14.2% below prior year levels.
• Year-to-date, NYSE Euronext U.S. matched exchange-traded funds ADV of 230 million shares was 18.0% below prior year levels.

Other Metrics

• The wind-down of NYSE Blue completed in April 2012 will lower quarterly revenue (other revenue) by $4 million and lower costs by $5 million beginning in the second quarter of 2012.
• The non-GAAP effective tax rate for the second quarter of 2012 is anticipated to be 25%.
• The loss attributable to NYSE Euronext’s non-controlling interest in the NYSE Liffe U.S. is anticipated to be lower in the second quarter of 2012 as a result of cost control efforts.
• During the second quarter of 2012, a total of 6.9 million shares were repurchased at an average price of $25.60. The current $552 million stock repurchase authorization has $248 million remaining as of June 30, 2012. As a result of these repurchases, the weighted average diluted shares outstanding in the second quarter was 253 million shares.
• The average EUR/USD exchange rate for the second quarter of 2012 of $1.28 represented a decrease of 2.1% from the first quarter of 2012 and a decrease of 10.8% compared to the second quarter of 2011. The average GBP/USD exchange rate for the second quarter of 2012 of $1.58 represented an increase of 0.7% from the first quarter of 2012 and a decrease of 3.0% compared to the second quarter of 2011.

Please click here for the Monthly Transaction Activity Data Table.

About NYSE Euronext

NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the Fortune 500. For more information, please visit: http://www.nyx.com.

Disclaimer and 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 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés 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.

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.

NYSE Euronext

Monthly Volume Summary

                            Average Daily Volume Total Volume

AverageDaily Volume

Total Volume (Unaudited; contracts in thousands) Jun-12 Jun-11 % Chg Jun-12 Jun-11 % Chg YTD 2012

% Chg vs.

YTD

2011

YTD 2012

% Chg vs.YTD 2011

 

Number of Trading Days - European Cash

21 22 21 22 127 127 Number of Trading Days - European Derivatives 21 22 21 22 128 128 Number of Trading Days - U.S. Markets 21 22 21 22 125 125   European Derivatives Products 4,597 4,634 -0.8% 96,544 101,957 -5.3% 3,983 -19.7% 509,777 -19.1% of which Bclear 1,714 1,373 24.8% 35,998 30,217 19.1% 1,200 -16.8% 153,556 -16.2%   Total Fixed Income Products 1,924 2,163 -11.1% 40,401 47,583 -15.1% 1,862 -23.2% 238,387 -22.6%   Short Term Interest Rate Products 1,783 2,025 -11.9% 37,451 44,540 -15.9% 1,710 -25.3% 218,917 -24.7% Medium and Long Term Interest Rate Products 1 140 138 1.6% 2,950 3,043 -3.0% 152 11.6% 19,469 12.5%   Total Equity Products 2 2,592 2,378 9.0% 54,432 52,322 4.0% 2,040 -16.7% 261,162 -16.0%   Individual Equity Products 2,005 1,754 14.3% 42,111 38,582 9.1% 1,534 -19.1% 196,328 -18.4% Futures 1,517 1,168 29.8% 31,854 25,702 23.9% 1,048 -17.7% 134,137 -17.1% Options 488 585 -16.6% 10,257 12,880 -20.4% 486 -21.9% 62,191 -21.2% Equity Index Products 587 625 -6.1% 12,321 13,741 -10.3% 507 -8.6% 64,834 -7.9%   of which Bclear 1,714 1,373 24.8% 35,998 30,217 19.1% 1,200 -16.8% 153,556 -16.2% Individual Equity Products 1,621 1,263 28.4% 34,044 27,776 22.6% 1,125 -17.6% 144,023 -17.0% Futures 1,512 1,168 29.5% 31,759 25,696 23.6% 1,023 -18.7% 130,972 -18.1% Options 109 95 15.0% 2,284 2,080 9.8% 102 -4.9% 13,051 -4.1% Equity Index Products 93 111 -16.1% 1,955 2,441 -19.9% 74 -2.8% 9,533 -2.1%   Commodity Products 82 93 -12.6% 1,712 2,051 -16.6% 80 -7.2% 10,228 -6.5%   U.S. Derivatives Products   Equity Options 3   NYSE Euronext Options Contracts 3,624 4,105 -11.7% 76,103 90,301 -15.7% 4,020 -5.0% 502,556 -5.0% Total Consolidated Options Contracts 14,183 15,570 -8.9% 297,841 342,531 -13.0% 15,391 -6.9% 1,923,930 -6.9%   NYSE Group Share of Total 25.6% 26.4% 25.6% 26.4% 26.1% 0.5% 26.1% 0.5%   NYSE Liffe U.S.   Futures and Futures Options Volume* 90.9 97.5 -6.8% 1,908 2,145 -11.1% 84.7 48.1% 10,930.6 49.2%   European Cash Products (trades in thousands) 1,668 1,518 9.9% 35,034 33,396 4.9% 1,645 -1.7% 208,861 -1.7%   Equities 1,617 1,461 10.7% 33,966 32,146 5.7% 1,591 -1.0% 202,107 -1.0% Exchange-Traded Funds 14 17 -20.4% 287 377 -24.0% 14 -22.0% 1,831 -22.0% Structured Products 32 35 -8.5% 668 765 -12.7% 34 -16.9% 4,294 -16.9% Bonds 5 5 10.6% 114 108 5.6% 5 -5.9% 628 -5.9%   U.S. Cash Products (shares in millions) 5 1,837 2,153 -14.7% 38,580 47,362 -18.5% 1,801 -17.8% 225,100 -17.8%   NYSE Listed (Tape A) Issues 4   Handled Volume 5 1,323 1,525 -13.3% 27,782 33,556 -17.2% 1,287 -17.7% 160,922 -17.7% Matched Volume 6 1,264 1,450 -12.8% 26,554 31,902 -16.8% 1,219 -17.7% 152,355 -17.7% Total NYSE Listed Consolidated Volume 3,918 3,961 -1.1% 82,268 87,140 -5.6% 3,906 -8.1% 488,298 -8.1%   Share of Total Consolidated Volume Handled Volume 5 33.8% 38.5% -4.7% 33.8% 38.5% -4.7% 33.0% -3.8% 33.0% -3.8% Matched Volume 6 32.3% 36.6% -4.3% 32.3% 36.6% -4.3% 31.2% -3.6% 31.2% -3.6%  

NYSE Arca, MKT and Regional (Tape B) Listed

Issues

  Handled Volume 5 288 354 -18.6% 6,046 7,779 -22.3% 272 -20.2% 33,960 -20.2% Matched Volume 6 261 320 -18.4% 5,478 7,032 -22.1% 243 -20.4% 30,433 -20.4% Total NYSE Arca & MKT Listed Consolidated Volume 1,212 1,347 -10.0% 25,443 29,629 -14.1% 1,155 -12.4% 144,402 -12.4%   Share of Total Consolidated Volume Handled Volume 5 23.8% 26.3% -2.5% 23.8% 26.3% -2.5% 23.5% -2.3% 23.5% -2.3% Matched Volume 6 21.5% 23.7% -2.2% 21.5% 23.7% -2.2% 21.1% -2.1% 21.1% -2.1%   Nasdaq Listed (Tape C) Issues   Handled Volume 5 226 274 -17.4% 4,752 6,026 -21.1% 242 -15.8% 30,218 -15.8% Matched Volume 6 196 233 -16.1% 4,109 5,131 -19.9% 206 -15.6% 25,726 -15.6% Total Nasdaq Listed Consolidated Volume 1,790 2,021 -11.4% 37,595 44,468 -15.5% 1,799 -11.1% 224,885 -11.1%   Share of Total Consolidated Volume Handled Volume 5 12.6% 13.6% -1.0% 12.6% 13.6% -1.0% 13.4% -0.8% 13.4% -0.8% Matched Volume 6 10.9% 11.5% -0.6% 10.9% 11.5% -0.6% 11.4% -0.7% 11.4% -0.7%   Exchange-Traded Funds 5,7   Handled Volume 5 271 324 -16.6% 5,684 7,137 -20.4% 257 -17.7% 32,100 -17.7% Matched Volume 6 245 292 -16.2% 5,140 6,426 -20.0% 230 -18.0% 28,714 -18.0% Total ETF Consolidated Volume 1,181 1,278 -7.6% 24,792 28,111 -11.8% 1,126 -8.3% 140,693 -8.3%   Share of Total Consolidated Volume Handled Volume 5 22.9% 25.4% -2.5% 22.9% 25.4% -2.5% 22.8% -2.6% 22.8% -2.6% Matched Volume 6 20.7% 22.9% -2.2% 20.7% 22.9% -2.2% 20.4% -2.4% 20.4% -2.4%      

1   Data includes currency products.

2  Includes all trading activities for Bclear, NYSE Liffe's clearing service for wholesale derivatives.

3   Includes trading in U.S. equity options contracts, not equity-index options.

4   Includes all volume executed in NYSE Group crossing sessions.

5   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.

6   Represents the total number of shares of equity securities and ETFs executed on the NYSE Group's exchanges.

7   Data included in previously identified categories.

*   ADVs calculated with the appropriate number of NYSE Liffe U.S. trading days.

   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.