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NYSE Euronext Announces Trading Volumes for March 2012 and Other Metrics

Apr 11, 2012
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NYSE Euronext Announces Trading Volumes for March 2012 and Other Metrics

April 11, 2012

Global Derivatives ADV Down 12% Year-over-Year, But Up 15% Sequentially

European and U.S. Cash ADV Down 13% and 24% Year-over-Year

NEW YORK--(BUSINESS WIRE)--Apr. 11, 2012-- NYSE Euronext (NYX) today announced trading volumes for its global derivatives and cash equities exchanges for March 20121. Trading volumes declined year-over- year across most venues, but several venues showed some improvement from February 2012 levels. Global derivatives average daily volume (“ADV”) of 8.1 million contracts in March 2012 decreased 11.5% versus the prior year, but increased 15.4% from February 2012 levels, with European fixed income derivatives increasing 17.5%. European cash trading ADV decreased 12.7% year-over-year, but increased 0.5% from February 2012 levels. U.S. cash trading ADV decreased 23.6% from March 2011 levels and was down 0.6% from February 2012 levels.

Highlights

  • NYSE Euronext global derivatives ADV in March 2012 of 8.1 million contracts decreased 11.5% compared to March 2011 and decreased 15.4% from February 2012 levels.
  • NYSE Euronext European derivatives products ADV in March 2012 of 3.9 million contracts decreased 18.0% compared to March 2011, but increased 37.8% from February 2012 levels. Excluding Bclear, NYSE Liffe's trade administration and clearing service for OTC products, European derivatives products ADV decreased 28.5% compared to March 2011 and increased 12.0% from February 2012.
  • NYSE Euronext U.S. equity options ADV of 4.1 million contracts in March 2012 decreased 6.0% compared to March 2011 levels and decreased 0.1% from February 2012. NYSE Euronext’s U.S. options exchanges accounted for 26.0% of total U.S. consolidated equity options trading in March 2012, in-line with March 2011 and up from 25.4% in February 2012.
  • NYSE Liffe U.S. ADV of approximately 104,900 contracts increased from 35,600 contracts in March 2011 and increased from 88,600 contracts in February 2012.
  • NYSE Euronext European cash products ADV of 1.6 million transactions in March 2012 decreased 12.7% compared to March 2011, but increased 0.5% from February 2012 levels.
  • NYSE Euronext U.S. cash products handled ADV of 1.8 billion shares in March 2012 decreased 23.6% compared to March 2011 and decreased 0.6% compared to February 2012. NYSE Euronext’s Tape A matched market share in March 2012 was 31.3%, down from 35.1% in March 2011, but up from 30.0% in February 2012.
  • There were a total of 22 trading days in Europe and the U.S. in March 2012 compared to 23 trading days in Europe and the U.S. in March 2011.
  • The preliminary average net revenue per transaction type (as defined below) for each of the primary trading venues in the first quarter of 2012 is included below:
Preliminary

Trading Venue

3Q11 4Q11 1Q12
European Derivatives (ex. Bclear)1 $ 0.679 $ 0.698 $ 0.66
U.S. Equity Options2 $ 0.154 $ 0.148 $ 0.15
European Cash3 $ 0.635 $ 0.582 $ 0.57
U.S. Cash4 $ 0.038 $ 0.039 $ 0.04

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 March 2012 was 3.9 million futures and options contracts, a decrease of 18.0% from March 2011, but an increase of 37.8% from February 2012.
  • The 3.9 million in European derivatives futures and options contracts ADV in March 2012 consisted of 2.8 million contracts executed through our full-service LIFFE CONNECT trading platform and 1.1 million contracts, or 28.5%, executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products. Excluding Bclear, European derivatives products ADV decreased 28.5% compared to March 2011, but increased 12.0% from February 2012.
  • In the first quarter of 2012, European derivatives products ADV of 3.3 million contracts was 28.1% below prior year levels. The 3.3 million in futures and options contracts ADV in the first quarter of 2012 consisted of 2.6 million contracts executed through LIFFE CONNECT trading platform and 0.7 million contracts, or 20.2%, executed through Bclear.
  • Total fixed income products ADV of 1.9 million contracts in March 2012 decreased 29.8% from March 2011, but increased 17.5% from February 2012. In the first quarter of 2012, total fixed income products ADV of 1.8 million contracts was 34.3% below prior year levels.
  • Total equity products (including Bclear) ADV of 2.0 million contracts in March 2012 decreased 2.1% compared to March 2011, but increased 69.2% from February 2012. The 2.0 million contracts in equity products ADV consisted of 1.4 million contracts in individual equity products ADV and 0.6 million contracts in equity index products ADV. The 1.4 million contracts in individual equity products ADV consisted of 0.9 million in futures contracts, which represented a 38.7% increase compared to March 2011 and 0.5 million in options contracts, which represented a 23.6% decrease compared to March 2011. The average net rate per contract for individual equity futures contracts is significantly lower than other European derivatives products. In the first quarter of 2012, total equity products ADV of 1.5 million contracts were 20.0% below prior year levels.
  • Total commodities products ADV of approximately 82,000 contracts in March 2012 decreased 18.9% compared to March 2011 and decreased 6.1% compared to February 2012. In the first quarter of 2012, total commodities product ADV of 81,000 contracts was 7.4% below prior year levels.

U.S. Derivatives

  • NYSE Euronext U.S. equity options ADV of 4.1 million contracts in March 2012 decreased 6.0% compared to March 2011 and decreased 0.1% compared to February 2012. In the first quarter of 2012, U.S. equity options ADV of 4.1 million contracts was 6.4% below prior year levels.
  • Total U.S. consolidated equity options ADV decreased 5.8% to 15.8 million contracts in March 2012 compared to March 2011 and decreased 2.2% compared to February 2012. In the first quarter of 2012, U.S. consolidated equity options ADV of 15.9 million contracts was 8.2% below prior year levels.
  • NYSE Euronext’s U.S. options exchanges accounted for 26.0% of the total U.S. consolidated equity options trading in March 2012, in-line with March 2011 and up from 25.4% in February 2012.
  • NYSE Liffe U.S. ADV of approximately 104,900 contracts increased from 35,600 contracts in March 2011 and increased from 88,600 contracts in February 2012. In the first quarter of 2012, U.S. futures and futures options ADV of 96,300 contracts was 358.3% above prior year levels.

Cash Trading

European Cash

  • NYSE Euronext European cash products ADV of 1.6 million transactions in March 2012 decreased 12.7% compared to March 2011, but increased 0.5% compared to February 2012.
  • In the first quarter of 2012, European cash products ADV of 1.6 million transactions was 12.2% below prior year levels.

U.S. Cash

  • NYSE Euronext U.S. cash products handled ADV in March 2012 decreased 23.6% to 1.8 billion shares compared to March 2011 and decreased 0.6% from February 2012.
  • In the first quarter of 2012, U.S. cash products handled ADV was 1.8 billion shares, down 22.8% from prior year levels.
  • NYSE Euronext’s Tape A matched market share in March 2012 was 31.3%, down from 35.1% in March 2011, but up from 30.0% in February 2012.

Exchange Traded Funds

  • NYSE Euronext U.S. matched exchange-traded funds ADV (included in volumes for Tape B and Tape C) of 222 million shares in March 2012 decreased 29.3% compared to March 2011, but increased 4.1% compared to February 2012.
  • In the first quarter of 2012, NYSE Euronext U.S. matched exchange-traded funds ADV of 221 million shares was 21.8% below prior year levels.

Other Metrics

  • The average EUR/USD exchange rate for the first quarter of 2012 of $1.31 represented a decrease of 2.8% from the fourth quarter of 2011 and a decrease of 4.1% compared to the first quarter of 2011.
  • The average GBP/USD exchange rate for the first quarter of 2012 of $1.57 represented a decrease of 0.1% from the fourth quarter of 2011 and a decrease of 1.9% compared to the first 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 Average Daily Volume Total Volume
(Unaudited; contracts in thousands) Mar-12 Mar-11 % Chg Mar-12 Mar-11 % Chg YTD 2012

% Chg vs.
YTD 2011

YTD 2012

% Chg vs.
YTD 2011

Number of Trading Days - European Markets 22 23 22 23 65 65
Number of Trading Days - U.S. Markets 22 23 22 23 62 62
European Derivatives Products 3,913 4,771 -18.0 % 86,080 109,733 -21.6 % 3,332 -28.1 % 216,595 -27.0 %
of which Bclear 1,115 861 29.5 % 24,535 19,806 23.9 % 673 -12.7 % 43,730 -11.4 %
Total Fixed Income Products 1,876 2,673 -29.8 % 41,272 61,468 -32.9 % 1,774 -34.3 % 115,327 -33.3 %
Short Term Interest Rate Products 1,735 2,546 -31.9 % 38,170 58,566 -34.8 % 1,622 -36.8 % 105,438 -35.9 %
Medium and Long Term Interest Rate Products 1 141 126 11.8 % 3,102 2,902 6.9 % 152 15.6 % 9,889 17.4 %
Total Equity Products 2 1,955 1,997 -2.1 % 43,002 45,935 -6.4 % 1,477 -20.0 % 95,974 -18.7 %
Individual Equity Products 1,393 1,294 7.7 % 30,655 29,755 3.0 % 1,019 -19.5 % 66,242 -18.2 %
Futures 902 650 38.7 % 19,840 14,953 32.7 % 510 -11.2 % 33,175 -9.8 %
Options 492 644 -23.6 % 10,814 14,802 -26.9 % 509 -26.4 % 33,068 -25.2 %
Equity Index Products 561 703 -20.2 % 12,347 16,180 -23.7 % 457 -21.1 % 29,732 -19.9 %
of which Bclear 1,115 861 29.5 % 24,535 19,806 23.9 % 673 -12.7 % 43,730 -11.4 %
Individual Equity Products 1,007 747 34.7 % 22,144 17,188 28.8 % 600 -13.0 % 38,998 -11.7 %
Futures 902 649 38.9 % 19,837 14,927 32.9 % 502 -11.7 % 32,660 -10.4 %
Options 105 98 6.6 % 2,307 2,262 2.0 % 98 -19.1 % 6,339 -17.8 %
Equity Index Products 109 114 -4.5 % 2,391 2,618 -8.7 % 73 -10.1 % 4,731 -8.7 %
Commodity Products 82 101 -18.9 % 1,806 2,329 -22.5 % 81 -7.4 % 5,293 -5.9 %
U.S. Derivatives Products
Equity Options 3
NYSE Euronext Options Contracts 4,105 4,368 -6.0 % 90,300 100,472 -10.1 % 4,128 -6.4 % 255,922 -6.4 %
Total Consolidated Options Contracts 15,811 16,791 -5.8 % 347,851 386,203 -9.9 % 15,879 -8.2 % 984,508 -8.2 %
NYSE Group Share of Total 26.0 % 26.0 % 26.0 % 26.0 % 26.0 % 0.5 % 26.0 % 0.5 %
NYSE Liffe U.S.
Futures and Futures Options Volume* 104.9 35.6 194.9 % 2,308 818 182.1 % 96.3 358.3 % 6,161.3 358.3 %
European Cash Products (trades in thousands) 1,625 1,862 -12.7 % 35,743 42,822 -16.5 % 1,583 -12.2 % 102,927 -10.8 %
Equities 1,571 1,787 -12.1 % 34,565 41,090 -15.9 % 1,530 -11.7 % 99,439 -10.3 %
Exchange-Traded Funds 14 22 -35.7 % 318 516 -38.5 % 14 -29.5 % 942 -28.4 %
Structured Products 34 47 -27.8 % 752 1,089 -31.0 % 34 -23.4 % 2,235 -22.2 %
Bonds 5 6 -9.8 % 109 127 -13.7 % 5 -12.0 % 311 -10.6 %
U.S. Cash Products (shares in millions) 5 1,763 2,307 -23.6 % 38,793 53,061 -26.9 % 1,783 -22.8 % 110,557 -22.8 %
NYSE Listed (Tape A) Issues 4
Handled Volume 5 1,273 1,632 -22.0 % 28,015 37,543 -25.4 % 1,275 -23.6 % 79,022 -23.6 %
Matched Volume 6 1,204 1,550 -22.3 % 26,482 35,640 -25.7 % 1,202 -23.8 % 74,531 -23.8 %
Total NYSE Listed Consolidated Volume 3,841 4,410 -12.9 % 84,503 101,420 -16.7 % 3,932 -13.9 % 243,799 -13.9 %
Share of Total Consolidated Volume
Handled Volume 5 33.2 % 37.0 % -3.8 % 33.2 % 37.0 % -3.8 % 32.4 % -4.1 % 32.4 % -4.1 %
Matched Volume 6 31.3 % 35.1 % -3.8 % 31.3 % 35.1 % -3.8 % 30.6 % -4.0 % 30.6 % -4.0 %
NYSE Arca & Amex (Tape B) Listed Issues
Handled Volume 5 266 383 -30.7 % 5,846 8,820 -33.7 % 265 -23.5 % 16,441 -23.5 %
Matched Volume 6 237 344 -31.1 % 5,210 7,906 -34.1 % 237 -23.9 % 14,670 -23.9 %
Total NYSE Arca & Amex Listed Consolidated Volume 1,128 1,475 -23.5 % 24,817 33,931 -26.9 % 1,123 -16.9 % 69,620 -16.9 %
Share of Total Consolidated Volume
Handled Volume 5 23.6 % 26.0 % -2.4 % 23.6 % 26.0 % -2.4 % 23.6 % -2.1 % 23.6 % -2.1 %
Matched Volume 6 21.0 % 23.3 % -2.3 % 21.0 % 23.3 % -2.3 % 21.1 % -1.9 % 21.1 % -1.9 %
Nasdaq Listed (Tape C) Issues
Handled Volume 5 224 291 -23.0 % 4,932 6,697 -26.4 % 243 -17.5 % 15,095 -17.5 %
Matched Volume 6 189 247 -23.5 % 4,162 5,690 -26.9 % 206 -18.0 % 12,776 -18.0 %
Total Nasdaq Listed Consolidated Volume 1,680 2,020 -16.9 % 36,951 46,470 -20.5 % 1,796 -12.5 % 111,330 -12.5 %
Share of Total Consolidated Volume
Handled Volume 5 13.3 % 14.4 % -1.1 % 13.3 % 14.4 % -1.1 % 13.6 % -0.8 % 13.6 % -0.8 %
Matched Volume 6 11.3 % 12.2 % -0.9 % 11.3 % 12.2 % -0.9 % 11.5 % -0.7 % 11.5 % -0.7 %
Exchange-Traded Funds 5,7
Handled Volume 5 250 351 -28.8 % 5,499 8,077 -31.9 % 248 -21.2 % 15,407 -21.2 %
Matched Volume 6 222 315 -29.3 % 4,890 7,235 -32.4 % 221 -21.8 % 13,719 -21.8 %
Total ETF Consolidated Volume 1,092 1,368 -20.1 % 24,034 31,455 -23.6 % 1,084 -13.0 % 67,198 -13.0 %
Share of Total Consolidated Volume
Handled Volume 5 22.9 % 25.7 % -2.8 % 22.9 % 25.7 % -2.8 % 22.9 % -2.4 % 22.9 % -2.4 %
Matched Volume 6 20.3 % 23.0 % -2.7 % 20.3 % 23.0 % -2.7 % 20.4 % -2.3 % 20.4 % -2.3 %

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.

Source: NYSE Euronext

NYSE Euronext
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or
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