-- Fourth Quarter GAAP Diluted EPS of $0.12 vs. $0.43 in Prior Year --
-- Non-GAAP Diluted EPS of $0.43 vs. $0.50 Excluding Merger Expenses,
Exit Costs and Other Discrete Items --
-- Global Leader in IPOs in 2012 for Second Consecutive Year --
-- Announced Acquisition by ICE Presents Opportunity to Create Global
Player and Risk Management Leader --
-- Separate Clearing Agreement with ICE Designed to Ease Transition
for Clients --
-- $115 Million in Project 14 Savings Achieved in 2012 --
Financial and Operating Highlights1, 2
-
Diluted EPS of $0.43, down from $0.50 in 4Q11
-
Net revenue of $562 million, down 11%, including $4 million
negative FX impact
-
Fixed operating expenses of $392 million, down 9% on a constant
dollar / portfolio basis
-
Operating income of $170 million, down 20%, including $3 million
negative FX impact
-
Repurchased 1.1 million shares at average price of $24.67 in 4Q12
and 17.0 million shares in FY 2012
-
Board declares first quarter 2013 cash dividend of $0.30 per share
1 All comparisons versus 4Q11 unless otherwise
stated. Excludes merger expenses, exit costs and other discrete
items.
2 A full reconciliation of our non-GAAP results to
our GAAP results is included in the attached tables. See also our
statement on non-GAAP financial measures at the end of this earnings
release.
NEW YORK--(BUSINESS WIRE)--Feb. 5, 2013--
NYSE Euronext (NYX) today reported net income of $28 million, or $0.12
per diluted share, for the fourth quarter of 2012, compared to net
income of $110 million, or $0.43 per diluted share, for the fourth
quarter of 2011. Financial results for the fourth quarter of 2012
included a higher level of merger and exit costs, reflecting a write-off
of clearing investments in connection with the decision to move to ICE
Clear, the unwind of BlueNext and merger related expenses. Fourth
quarter of 2012 financial results also included costs of $24 million,
consisting primarily of the premium paid to former bondholders, to
refinance a portion of company debt outstanding. Excluding the impact of
these items, net income in the fourth quarter of 2012 was $105 million,
or $0.43 per diluted share, compared to $130 million, or $0.50 per
diluted share, in the fourth quarter of 2011. For the full-year 2012,
excluding the discrete items noted in the tables accompanying this press
release, net income was $462 million, or $1.84 per diluted share,
compared to net income of $653 million, or $2.48 per diluted share for
full-year 2011. Financial results for the full-year 2011 benefited from
extreme levels of volatility in the third quarter which drove strong
trading volumes across all trading venues, setting new quarterly records
for orders and executions. Since the third quarter of 2011 and through
2012, market volatility declined to multi-year lows, driving significant
declines in trading volumes.
“Our fourth quarter results reflect both the beneficial actions we took
to refinance our debt and rationalize our clearing plans for Liffe in
connection with the announced move to ICE Clear,” said Duncan L.
Niederauer, CEO, NYSE Euronext. “Along with the continued progress we
are making on reducing expenses as part of Project 14, we are focused on
building momentum in our business prior to closing the deal with ICE,
which we expect to close in the second half of this year. We believe
that combining our highly complementary businesses will create a global
exchange player with a particularly compelling and diverse global
derivatives franchise, and an ‘end-to-end’ multi-asset business that
would be very well positioned to compete and serve a global client base,
while creating meaningful value for shareholders.”
The table below summarizes the financial results1 for the
fourth quarter and full-year of 2012:
|
|
|
|
|
|
|
|
|
% Δ 4Q12
|
|
Full-Year
|
|
|
|
% Δ FY '12
|
|
($ in millions, except EPS)
|
|
4Q12
|
|
3Q12
|
|
4Q11
|
|
vs. 4Q11
|
|
2012
|
|
2011
|
|
vs. FY '11
|
|
Total Revenues2
|
|
$909
|
|
$902
|
|
$1,054
|
|
(14%)
|
|
$3,749
|
|
$4,552
|
|
(18%)
|
|
Total Revenues, Less Transaction-Based Expenses3
|
|
562
|
|
559
|
|
628
|
|
(11%)
|
|
2,324
|
|
2,672
|
|
(13%)
|
|
Other Operating Expenses 4
|
|
392
|
|
388
|
|
416
|
|
(6%)
|
|
1,581
|
|
1,666
|
|
(5%)
|
|
Operating Income 4
|
|
$170
|
|
$171
|
|
$212
|
|
(20%)
|
|
$743
|
|
$1,006
|
|
(26%)
|
|
Net Income4
|
|
$105
|
|
$108
|
|
$130
|
|
(19%)
|
|
$462
|
|
$653
|
|
(29%)
|
|
Diluted Earnings Per Share4
|
|
$0.43
|
|
$0.44
|
|
$0.50
|
|
(14%)
|
|
$1.84
|
|
$2.48
|
|
(26%)
|
|
Operating Margin
|
|
30%
|
|
31%
|
|
34%
|
|
(4 ppts)
|
|
32%
|
|
38%
|
|
(6 ppts)
|
|
Adjusted EBITDA Margin
|
|
42%
|
|
42%
|
|
45%
|
|
(3 ppts)
|
|
43%
|
|
48%
|
|
(5 ppts)
|
|
1
|
|
A full reconciliation of our non-GAAP results to our GAAP results is
included in the attached tables. See also our statement on non-GAAP
financial measures at the end of this earnings release.
|
|
2
|
|
Includes activity assessment fees.
|
|
3
|
|
Transaction-based expenses include Section 31 fees, liquidity
payments and routing & clearing fees.
|
|
4
|
|
Excludes merger expenses, exit costs and the BlueNext tax settlement.
|
|
|
|
|
“Our fourth quarter results were in line with the third quarter, but
trailed prior year. The impact of lackluster trading volumes was
somewhat mitigated by lower costs and lower share count. Operating
expenses declined $24 million, or 6% in the fourth quarter and for the
full-year 2012, excluding the impact of currency fluctuations and new
business initiatives, core operating expenses were down $115 million
from the 2011 expense base of $1,666 million, which far exceeded the
initial guidance of $63 million in Project 14 savings,” commented
Michael S. Geltzeiler, Group Executive Vice President and CFO, NYSE
Euronext. “Furthermore, we are continuing to deliver on our commitment
to optimize the business portfolio with the un-wind of BlueNext, the
planned sale of all or part of our MCX stake and our decision to move to
ICE Clear, which will increase savings and reduce investment costs in
2013.”
FOURTH QUARTER & FULL-YEAR 2012 CONSOLIDATED
RESULTS
Total revenues, less transaction-based expenses, which include Section
31 fees, liquidity payments and routing and clearing fees (net revenue),
were $562 million in the fourth quarter of 2012, down $66 million, or
11% compared to the fourth quarter of 2011 and included a $4 million
negative impact from foreign currency fluctuations. The $62 million
decrease in net revenue, on a constant currency basis, compared to the
fourth quarter of 2011 was primarily driven by lower average daily
volumes (“ADV”), mostly attributable to the derivatives business. For
the full-year 2012, net revenue was $2,324 million, a decrease of $348
million, or 13% compared to $2,672 million for full-year 2011 and
included a $55 million negative impact from foreign currency
fluctuations. The $293 million decrease in net revenue, on a constant
currency basis, compared to full-year 2011 was driven primarily by lower
ADV, mostly attributable to the derivatives business.
Operating expenses, excluding merger expenses, exit costs and the
BlueNext tax settlement were $392 million in the fourth quarter of 2012,
down $24 million, or 6% compared to the fourth quarter of 2011.
Excluding the impact of new business initiatives and a $1 million
positive impact attributable to foreign currency fluctuations, other
operating expenses were down $36 million, or 9%, compared to the fourth
quarter of 2011. For the full-year 2012, other operating expenses on the
same basis were $1,581 million compared to $1,666 million in 2011.
Excluding the impact of acquisitions, new initiatives and a $27 million
positive impact attributable to foreign currency fluctuations, other
operating expenses were down 6% compared to full-year 2011.
For the full-year 2012, Project 14 savings were $115 million, which
represents 46% of the total $250 million expected to be saved by the end
of 2014, running well above the 25%, or $63 million, originally expected
for full-year 2012.
Operating income, excluding merger expenses, exit costs and the BlueNext
tax settlement, was $170 million, down $42 million, or 20% compared to
the fourth quarter of 2011 and included a $3 million negative impact
attributable to foreign currency fluctuations. For the full-year 2012,
operating income on the same basis was $743 million, a decrease of $263
million, or 26% compared to $1,006 million for full-year 2011 and
included a $28 million negative impact attributable to foreign currency
fluctuations.
Adjusted EBITDA, excluding merger expenses, exit costs and the BlueNext
tax settlement, was $234 million, down $46 million, or 16% compared to
the fourth quarter of 2011. Adjusted EBITDA margin was 42% in the fourth
quarter of 2012, compared to 45% in the fourth quarter of 2011. For the
full-year 2012, adjusted EBITDA on the same basis was $1,003 million,
compared to $1,286 million for full-year 2011 representing a decrease of
$283 million, or 22%. Adjusted EBITDA margin for the full-year 2012 was
43% compared to 48% in 2011.
Loss from associates is primarily related to New York Portfolio
Clearing. Net (income) loss attributable to non-controlling interest
consists primarily of net income attributable to NYSE Amex Options which
was partially offset by the net loss attributable to NYSE Liffe U.S.
The effective tax rate for the fourth quarter and full-year 2012,
excluding merger expenses, exit costs, direct costs of refinancing and
discrete tax items, was 24% compared to approximately 26% for the fourth
quarter and full-year 2011 excluding the same items and the BlueNext tax
settlement.
The weighted average diluted shares outstanding in the fourth quarter of
2012 was 244 million, down from 262 million in fourth quarter of 2011.
During the fourth quarter of 2012, a total of 1.1 million shares were
repurchased at an average price of $24.67 per share and for the
full-year 2012, a total of 17.0 million shares were repurchased at an
average price of $26.55.
At December 31, 2012, total debt was $2.5 billion. Total debt includes
$0.4 billion remaining from the 4.8% June 2013 notes which we expect to
retire in the second quarter of 2013. Cash, cash equivalents and short
term financial investments (including $99 million related to Section 31
fees collected from market participants and due to the SEC) were $0.4
billion and net debt was $2.1 billion at the end of the fourth quarter
of 2012. The ratio of debt-to-EBITDA at the end of the fourth quarter of
2012 was 2.5.
On October 5, 2012, NYSE Euronext closed on its public offering of $850
million 2.00% notes due in October 2017. The proceeds from this offering
were used to fund the tender of $336 million of our outstanding $750
million 4.80% notes due in June 2013 and €80 million of our €1 billion
5.375% notes due in June 2015 and for other general corporate purposes,
including the reduction in outstanding commercial paper. As a result of
the refinancing, recurring interest expense declined by approximately $1
million in the fourth quarter of 2012.
Total capital expenditures were $66 million in the fourth quarter of
2012 and $191 million for the full-year 2012.
Headcount as of December 31, 2012 of 3,079 was slightly above year-end
2011 with the addition of 99 employees from the acquisition of Corpedia
in June of 2012 and increased staff for the UK derivatives clearing
initiative.
The Board of Directors declared a cash dividend of $0.30 per share for
the first quarter of 2013. The first quarter 2013 dividend is payable on
March 28, 2013 to shareholders of record as of the close of business on
March 14, 2013. The anticipated ex-date will be March 12, 2013.
FULL-YEAR 2013 GUIDANCE (NON-GAAP)
For the full-year 2013, management is providing the following guidance:
-
We are guiding total operating expenses to decline to approximately
$1,525 million on a reported basis at constant currency rates. When
compared to Project 14 goals and the 2011 expense base of $1,666
million, we expect core operating expenses, on a constant currency
basis and excluding discrete investments, to be approximately $1,465
million, which is about $200 million below the 2011 base.
-
The debt refinancing in the fourth quarter of 2012, is expected to
save an annualized $15 million and $24 million in interest expense in
2013 and 2014, respectively.
-
The anticipated effective tax rate is expected to be between 24% and
25%.
-
The ratio of debt-to-EBITDA is expected to be at, or below 2.0X in
2013, declining from 2.5X in 2012.
-
Total capital expenditures are expected to be approximately $150
million.
FOURTH QUARTER & FULL-YEAR 2012 SEGMENT RESULTS
Below is a summary of business segment results:
|
|
|
Derivatives
|
|
Cash Trading & Listings
|
|
Info. Svcs. & Tech. Solutions
|
|
($ in millions)
|
|
Net
|
|
Operating
|
|
Adjusted
|
|
Net
|
|
Operating
|
|
Adjusted
|
|
|
|
Operating
|
|
Adjusted
|
|
|
|
Revenue1
|
|
Income2
|
|
EBITDA2
|
|
Revenue1
|
|
Income2
|
|
EBITDA2
|
|
Revenue
|
|
Income2
|
|
EBITDA2
|
|
4Q12
|
|
$160
|
|
$63
|
|
$72
|
|
$282
|
|
$100
|
|
$141
|
|
$120
|
|
$35
|
|
$49
|
|
3Q12
|
|
$164
|
|
$68
|
|
$78
|
|
$282
|
|
$104
|
|
$145
|
|
$113
|
|
$23
|
|
$36
|
|
4Q11
|
|
$186
|
|
$86
|
|
$96
|
|
$315
|
|
$125
|
|
$168
|
|
$127
|
|
$31
|
|
$46
|
|
FY 2012
|
|
$682
|
|
$295
|
|
$334
|
|
$1,168
|
|
$450
|
|
$617
|
|
$473
|
|
$113
|
|
$167
|
|
FY 2011
|
|
$861
|
|
$473
|
|
$523
|
|
$1,323
|
|
$533
|
|
$715
|
|
$490
|
|
$126
|
|
$174
|
|
1
|
|
Net revenue defined as total revenues less transaction-based
expenses including Section 31 fees, liquidity payments and routing &
clearing fees.
|
|
2
|
|
Excludes merger expenses, exit costs and the BlueNext tax settlement.
|
|
|
|
|
DERIVATIVES
Derivatives net revenue of $160 million in the fourth quarter of 2012
decreased $26 million, or 14% compared to the fourth quarter of 2011 and
included a $1 million positive impact from foreign currency
fluctuations. The $27 million decrease in derivatives net revenue, on a
constant currency basis, compared to the fourth quarter of 2011, was
driven by lower ADV. For the full-year 2012, Derivatives net revenue of
$682 million decreased $179 million, or 21%, and included a $12 million
negative impact from foreign currency fluctuations. The $167 million
decrease in net revenue, on a constant currency basis, compared to
full-year 2011 was driven by a decline in ADV.
-
IntercontinentalExchange and NYSE Euronext announced that ICE Clear
Europe Limited and LIFFE Administration and Management have entered
into a clearing services agreement pursuant to which ICE Clear Europe
will provide clearing services to the London market of NYSE Liffe.
-
İstanbul Menkul Kıymetler Borsası (IMKB) and NYSE Liffe, announced the
launch of futures and options contracts based on some of the
constituents of the IMKB 30 Index.
-
NYSE Liffe announced the expansion of Bclear, NYSE Liffe’s trade
confirmation, administration and clearing service, with the
introduction of Fixed Income products. The new contracts available
through Bclear will be Three Month Euro (Euribor) Futures, Three Month
Sterling (Short Sterling) Futures and Long Gilt Futures.
-
In 2012, NYSE Amex Options and NYSE Arca Options reached their highest
combined market share of 28.5% in October, retaining the #1 or #2
position in U.S. equity options.
-
The new NYSE Liffe U.S. futures contracts based on the DTCC GCF Repo
Index® were named ‘New Contract of the Year’ in Interest Rates by
Futures and Options Week (FOW) Magazine at the 2012 FOW International
Awards in London. Since launch in mid-July 2012, NYSE Liffe U.S. has
traded more than 375,000 total contracts valued at nearly $2 trillion
as of December 17. Momentum continues to grow for GCF Repo futures
with a new daily volume record set on January 18th of
17,556 lots traded.
CASH TRADING AND LISTINGS
Cash Trading and Listings net revenue of $282 million in the fourth
quarter of 2012 decreased $33 million, or 10% compared to the fourth
quarter of 2011 and included a $3 million negative impact from foreign
currency fluctuations. The $30 million decrease in net revenue, on a
constant currency basis, compared to the fourth quarter of 2011 was
primarily driven by lower ADV. For the full-year 2012, Cash Trading and
Listings net revenue of $1,168 million decreased $155 million, or 12%,
and included a $29 million negative impact from foreign currency
fluctuations. The $126 million decrease in net revenue, on a constant
currency basis, compared to full-year 2011 was driven primarily by a
decline in ADV.
-
NYSE Euronext was ranked #1 in initial public offerings (IPOs)
globally for the second consecutive year. NYSE Euronext raised $37
billion in total global proceeds on 120 IPOs. In the U.S., NYSE
Euronext led the market with 79 IPOs and 17 transfers. NYSE Euronext
has steadily captured share in technology-based IPOs. NYSE Euronext
listed 53% of the technology IPOs in the U.S., including Exact Target
Inc. (NYSE: ET), Millennial Media Inc. (NYSE: MM), Palo Alto Networks
(NYSE:PANW), Service Now Inc (NYSE: NOW), Workday (NYSE: WDAY) and
Yelp Inc. (NYSE: YELP).
-
In 2012, 17 companies moved or announced transfer to NYSE Euronext’s
U.S. markets (15 to NYSE, 2 to NYSE MKT) with six departures from the
NYSE and three from NYSE MKT. Of the 15 companies that moved or
announced transfer to the NYSE in 2012, three were among the top 100
largest companies by market capitalization listed on Nasdaq - Infosys
Ltd. (NYSE: INFY), TD Ameritrade Holding Corporation (NYSE: AMTD) and
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA). Both Teva and
Infosys were previously in the Nasdaq-100 Index.
-
In 2012, NYSE Euronext welcomed 25 listings in Europe from a variety
of sectors including healthcare, consumer goods, technology and
telecommunications, raising total IPO proceeds of €2.7 billion ($3.5
billion) and representing an aggregate market capitalization of €22.8
billion ($30 billion). Key listings on NYSE Euronext's European
platforms included: Ziggo (Euronext: ZIGGO), the Dutch cable operator
launched NYSE Euronext's largest European IPO in 2012 on NYSE Euronext
in Amsterdam, D.E. Masterblenders 1753 (Euronext: DE), the spin-off
from ex-Sara Lee Corp, also listed on NYSE Euronext in Amsterdam;
Groupe Eurotunnel (Euronext: GET), the first company to be admitted to
trading on NYSE Euronext in London and BTG Pactual (Alternext: BTGP),
Brazil's largest investment bank listed on NYSE Alternext in Amsterdam.
-
LCH.Clearnet SA, the Paris-based clearing house of LCH.Clearnet Group,
and NYSE Euronext jointly announced an agreement on the main terms and
conditions of a six year clearing contract with respect to NYSE
Euronext’s continental cash equities markets. The new agreement
commenced on January 1, 2013 and will run through 2018. Under the new
contract, LCH.Clearnet SA has further reduced clearing fees for
clearing members by 20%.
-
European cash market share (value traded) in NYSE Euronext’s four core
markets was 66% in the fourth quarter of 2012, in-line with the fourth
quarter of 2011, but down from 68% in the third quarter of 2012.
INFORMATION SERVICES AND TECHNOLOGY SOLUTIONS
Information Services and Technology Solutions revenue was $120 million
in the fourth quarter of 2012, a decrease of $7 million, or 6% compared
to the fourth quarter of 2011 and included a $2 million negative impact
from foreign currency fluctuations. Revenue in the fourth quarter of
2012, however, increased $7 million, or 7% compared to the third quarter
of 2012 which included a $2 million positive impact from foreign
currency fluctuations. Operating margin for the fourth quarter of 2012
returned to 29% from 20% in the third quarter of 2012 and 24% in the
fourth quarter of 2011. For the full-year 2012, Information Services and
Technology Solutions revenue of $473 million decreased $17 million, or
3%, and included a $14 million negative impact from foreign currency
fluctuations. The $3 million decrease in revenue, on a constant currency
basis, compared to full-year 2011 was driven by the challenging
environment for financial services technology sales which has delayed
client decisions on purchases of software and connectivity services.
Highlights for the fourth quarter of 2012 included:
-
Russell Indexes, a leading global index provider and NYSE Euronext,
one of the world's premier exchange operators and technology
innovators, announced a global alliance which includes the transition
of RussellTick, an index feed for real-time, intra-day values for the
Russell family of indexes in the U.S. and globally, to NYSE
Technologies' Global Index Feed (GIF) protocol and extensive global
distribution. The migration of RussellTick to NYSE Technologies' GIF
protocol makes Russell the first major index family distributed
through the global Secure Financial Transaction Infrastructure®
(SFTI®) network. The alliance also includes a commitment to develop
additional joint global services and products, such as new index-based
options. Approximately $3.9 trillion in assets are currently
benchmarked to the Russell Indexes globally.
-
Americas Trading Group (ATG) announced the formation of a new company
that will develop a liquidity center targeting the Brazilian exchange
market called Americas Trading System Brasil, or ATS Brasil. Utilizing
trading solutions developed by NYSE Technologies, the technology unit
of NYSE Euronext, ATS Brasil will offer customers a new equities
matching platform in Latin America. ATG will maintain the controlling
interest as well as operational management of the company with NYSE
Technologies as a minority shareholder and the core technology
provider.
-
NYSE Technologies announced the continued expansion of its Secure
Financial Transaction Infrastructure (SFTI) in Asia with the
introduction of two access centers located in Hong Kong. Customers
now, for the first time, have direct access to the SFTI network,
allowing them to connect to the NYSE Euronext capital markets
community and all other major international trading venues.
-
NYSE Technologies announced the launch of the OpenMAMA Enterprise
Edition as a part of its Open Platform. The OpenMAMA Enterprise
Edition is a commercial offering that is a fully supported, tested and
certified distribution of the industry standard Open Source Middleware
Agnostic Messaging API (OpenMAMA1). It provides an open,
vendor-neutral integration layer for a variety of middleware systems,
including NYSE Technologies Data FabricSM.
-
NYSE Technologies announced the addition of the Appia Business Center,
a management interface that allows front-end users to configure FIX
infrastructure without special coding, to its FIX capabilities. With
the new Appia Business Center, business users can build, maintain, and
monitor their FIX infrastructure without the help of specialists to
on-board new clients, communicate with new matching engines, or
implement new rules.
The accompanying tables include information integral to assessing the
Company’s financial performance.
Analyst / Investor / Media Call: February 5,
2013 at 8:00 a.m. (NY / ET) / 2:00 p.m. (Paris / CET)
A presentation and live audio webcast of the fourth quarter and
full-year 2012 earnings conference call will be available on the
Investor Relations section of NYSE Euronext’s website, http://www.nyseeuronext.com/ir.
Those wishing to listen to the live conference via telephone should
dial-in at least ten minutes before the call begins. An audio replay of
the conference call will be available approximately one hour after the
call on the Investor Relations section of NYSE Euronext’s website, http://www.nyseeuronext.com/ir
or by dial-in beginning approximately two hours following the conclusion
of the live call.
|
Live Dial-in Information:
|
|
United States: 866.203.2528
|
|
International: 617.213.8847
|
|
Passcode: 11676007
|
|
|
|
Replay Dial-in Information:
|
|
United States: 888.286.8010
|
|
International: 617.801.6888
|
|
Passcode: 41798941
|
|
|
Non-GAAP Financial Measures
To supplement NYSE Euronext’s consolidated financial statements prepared
in accordance with GAAP and to better reflect period-over-period
comparisons, NYSE Euronext uses non-GAAP financial measures of
performance, financial position, or cash flows that either exclude or
include amounts that are not normally excluded or included in the most
directly comparable measure, calculated and presented in accordance with
GAAP. Non-GAAP financial measures do not replace and are not superior to
the presentation of GAAP financial results, but are provided to (i)
present the effects of certain merger expenses, exit costs, disposal
activities, the BlueNext tax settlement, debt refinancing costs and
discrete tax items, and (ii) improve overall understanding of NYSE
Euronext’s current financial performance and its prospects for the
future. Specifically, NYSE Euronext believes the non-GAAP financial
results provide useful information to both management and investors
regarding certain additional financial and business trends relating to
financial condition and operating results. In addition, management uses
these measures for reviewing financial results and evaluating financial
performance. The non-GAAP adjustments for all periods presented are
based upon information and assumptions available as of the date of this
release.
NYSE Euronext Earnings News Release with Tables and Operating Data
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 MKT,
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. For more information, please visit: http://www.nyx.com.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS
This communication contains “forward-looking statements” made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. In some cases, you can identify forward-looking
statements by words such as “may,” “hope,” “will,” “should,” “expect,”
“plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,”
“potential,” “continue,” “could,” “future” or the negative of those
terms or other words of similar meaning. You should carefully read
forward-looking statements, including statements that contain these
words, because they discuss our future expectations or state other
“forward-looking” information. Forward-looking statements are subject to
numerous assumptions, risks and uncertainties which change over time.
ICE and NYSE Euronext caution readers that any forward-looking statement
is not a guarantee of future performance and that actual results could
differ materially from those contained in the forward-looking statement.
Forward-looking statements include, but are not limited to, statements
about the benefits of the proposed merger involving ICE and NYSE
Euronext, including future financial results, ICE’s and NYSE Euronext’s
plans, objectives, expectations and intentions, the expected timing of
completion of the transaction and other statements that are not
historical facts. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements are set forth in ICE’s and NYSE Euronext’s filings with the
U.S. Securities and Exchange Commission (the “SEC”). These risks and
uncertainties include, without limitation, the following: the inability
to close the merger in a timely manner; the inability to complete the
merger due to the failure of NYSE Euronext stockholders to adopt the
merger agreement or the failure of ICE stockholders to approve the
issuance of ICE common stock in connection with the merger; the failure
to satisfy other conditions to completion of the merger, including
receipt of required regulatory and other approvals; the failure of the
proposed transaction to close for any other reason; the possibility that
any of the anticipated benefits of the proposed transaction will not be
realized; the risk that integration of NYSE Euronext’s operations with
those of ICE will be materially delayed or will be more costly or
difficult than expected; the challenges of integrating and retaining key
employees; the effect of the announcement of the transaction on ICE’s,
NYSE Euronext’s or the combined company’s respective business
relationships, operating results and business generally; the possibility
that the anticipated synergies and cost savings of the merger will not
be realized, or will not be realized within the expected time period;
the possibility that the merger may be more expensive to complete than
anticipated, including as a result of unexpected factors or events;
diversion of management’s attention from ongoing business operations and
opportunities; general competitive, economic, political and market
conditions and fluctuations; actions taken or conditions imposed by the
United States and foreign governments or regulatory authorities; and
adverse outcomes of pending or threatened litigation or government
investigations. In addition, you should carefully consider the risks and
uncertainties and other factors that may affect future results of the
combined company, as will be described in the section entitled “Risk
Factors” in the joint proxy statement/prospectus to be delivered to
ICE’s and NYSE Euronext’s respective shareholders, and as described in
ICE’s and NYSE Euronext’s respective filings with the SEC that are
available on the SEC’s web site located at www.sec.gov,
including the sections entitled “Risk Factors” in ICE’s Form 10-K for
the fiscal year ended December 31, 2011, as filed with the SEC on
February 8, 2012, and ICE’s Quarterly Reports on Form 10-Q for the
quarters ended June 30, 2012, as filed with the SEC on August 1, 2012,
and September 30, 2012, as filed with the SEC on November 5, 2012, and
“Risk Factors” in NYSE Euronext’s Form 10-K for the fiscal year ended
December 31, 2011, as filed with the SEC on February 29, 2012, and NYSE
Euronext’s Quarterly Reports on Form 10-Q for the quarters ended
March 31, 2012, as filed with the SEC on May 4, 2012, and September 30,
2012, as filed with the SEC on November 8, 2012. You should not place
undue reliance on forward-looking statements, which speak only as of the
date of this communication. Except for any obligations to disclose
material information under the Federal securities laws, NYSE Euronext
undertakes no obligation to publicly update any forward-looking
statements to reflect events or circumstances after the date of this
communication.
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO
FIND IT
This communication does not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of any
vote or approval. In connection with the proposed transaction, ICE has
filed with the SEC a registration statement on Form S-4, which includes
a joint proxy statement/prospectus with respect to the proposed
acquisition of NYSE Euronext. The final joint proxy statement/prospectus
will be delivered to the stockholders of ICE and NYSE Euronext.
INVESTORS AND SECURITY HOLDERS OF BOTH ICE AND NYSE EURONEXT ARE URGED
TO READ THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED
TRANSACTION CAREFULLY AND IN ITS ENTIRETY, INCLUDING ANY DOCUMENTS
PREVIOUSLY FILED WITH THE SEC AND INCORPORATED BY REFERENCE INTO THE
JOINT PROXY STATEMENT/PROSPECTUS, AS WELL AS ANY AMENDMENTS OR
SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE IT WILL CONTAIN IMPORTANT
INFORMATION REGARDING ICE, NYSE EURONEXT AND THE PROPOSED TRANSACTION.
Investors and security holders may obtain a free copy of the joint proxy
statement/prospectus, as well as other filings containing information
about ICE and NYSE Euronext, without charge, at the SEC’s website at http://www.sec.gov.
Investors may also obtain these documents, without charge, from ICE’s
website at http://www.theice.com
and from NYSE Euronext’s website at http://www.nyx.com
PARTICIPANTS IN THE MERGER SOLICITATION
ICE, NYSE Euronext and their respective directors, executive officers
and other members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the
transactions contemplated by the Merger Agreement.
You can find information about ICE and ICE’s directors and executive
officers in ICE’s Annual Report on Form 10-K for the year ended
December 31, 2011, as filed with the SEC on February 8, 2012, and ICE’s
proxy statement for its 2012 annual meeting of stockholders, as filed
with the SEC on March 30, 2012.
You can find information about NYSE Euronext and NYSE Euronext’s
directors and executive officers in NYSE Euronext’s Annual Report on
Form 10-K for the year ended December 31, 2011, as filed with the SEC on
February 29, 2012, and NYSE Euronext’s proxy statement for its 2012
annual meeting of stockholders, filed with the SEC on March 26, 2012.
Additional information about the interests of potential participants
will be included in the joint proxy statement/prospectuses, when it
becomes available, and the other relevant documents filed by ICE and
NYSE Euronext with the SEC.
|
|
|
NYSE Euronext
|
|
Condensed consolidated statements of income (unaudited)
|
|
(in millions, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
Year ended Dec. 31,
|
|
|
Dec. 31, 2012
|
|
Sept. 30, 2012
|
|
Dec. 31, 2011
|
|
|
|
2012
|
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
Transaction and clearing fees
|
$
|
565
|
|
|
$
|
570
|
|
|
$
|
701
|
|
|
|
$
|
2,393
|
|
|
$
|
3,162
|
|
|
Market data
|
|
85
|
|
|
|
85
|
|
|
|
90
|
|
|
|
|
348
|
|
|
|
371
|
|
|
Listing
|
|
114
|
|
|
|
112
|
|
|
|
112
|
|
|
|
|
448
|
|
|
|
446
|
|
|
Technology services
|
|
87
|
|
|
|
81
|
|
|
|
95
|
|
|
|
|
341
|
|
|
|
358
|
|
|
Other revenues
|
|
58
|
|
|
|
54
|
|
|
|
56
|
|
|
|
|
219
|
|
|
|
215
|
|
|
Total revenues
|
|
909
|
|
|
|
902
|
|
|
|
1,054
|
|
|
|
|
3,749
|
|
|
|
4,552
|
|
|
Transaction-based expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Section 31 fees
|
|
75
|
|
|
|
74
|
|
|
|
84
|
|
|
|
|
301
|
|
|
|
371
|
|
|
Liquidity payments, routing and clearing
|
|
272
|
|
|
|
269
|
|
|
|
342
|
|
|
|
|
1,124
|
|
|
|
1,509
|
|
|
Total revenues, less transaction-based expenses
|
|
562
|
|
|
|
559
|
|
|
|
628
|
|
|
|
|
2,324
|
|
|
|
2,672
|
|
|
Other operating expenses
|
|
|
|
|
|
|
|
|
|
|
|
Compensation
|
|
144
|
|
|
|
145
|
|
|
|
159
|
|
|
|
|
601
|
|
|
|
638
|
|
|
Depreciation and amortization
|
|
64
|
|
|
|
64
|
|
|
|
68
|
|
|
|
|
260
|
|
|
|
280
|
|
|
Systems and communications
|
|
43
|
|
|
|
44
|
|
|
|
45
|
|
|
|
|
176
|
|
|
|
188
|
|
|
Professional services
|
|
81
|
|
|
|
76
|
|
|
|
80
|
|
|
|
|
299
|
|
|
|
299
|
|
|
Selling, general and administrative
|
|
60
|
|
|
|
59
|
|
|
|
106
|
|
|
|
|
245
|
|
|
|
303
|
|
|
Merger expenses and exit costs
|
|
73
|
|
|
|
18
|
|
|
|
46
|
|
|
|
|
134
|
|
|
|
114
|
|
|
Total other operating expenses
|
|
465
|
|
|
|
406
|
|
|
|
504
|
|
|
|
|
1,715
|
|
|
|
1,822
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
97
|
|
|
|
153
|
|
|
|
124
|
|
|
|
|
609
|
|
|
|
850
|
|
|
Net interest and investment income (loss)
|
|
(52
|
)
|
|
|
(28
|
)
|
|
|
(28
|
)
|
|
|
|
(136
|
)
|
|
|
(116
|
)
|
|
Loss from associates
|
|
(3
|
)
|
|
|
(2
|
)
|
|
|
(4
|
)
|
|
|
|
(8
|
)
|
|
|
(9
|
)
|
|
Net loss on disposal activities
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
(2
|
)
|
|
|
-
|
|
|
Other income (loss)
|
|
3
|
|
|
|
1
|
|
|
|
-
|
|
|
|
|
7
|
|
|
|
-
|
|
|
Income before income taxes
|
|
45
|
|
|
|
124
|
|
|
|
92
|
|
|
|
|
470
|
|
|
|
725
|
|
|
Income tax (provision) benefit
|
|
(14
|
)
|
|
|
(12
|
)
|
|
|
4
|
|
|
|
|
(105
|
)
|
|
|
(122
|
)
|
|
Net income
|
|
31
|
|
|
|
112
|
|
|
|
96
|
|
|
|
|
365
|
|
|
|
603
|
|
|
Net (income) loss attributable to noncontrolling interest
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
14
|
|
|
|
|
(17
|
)
|
|
|
16
|
|
|
Net income attributable to NYSE Euronext
|
$
|
28
|
|
|
$
|
108
|
|
|
$
|
110
|
|
|
|
$
|
348
|
|
|
$
|
619
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share attributable to NYSE Euronext
|
$
|
0.12
|
|
|
$
|
0.44
|
|
|
$
|
0.43
|
|
|
|
$
|
1.39
|
|
|
$
|
2.37
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share attributable to NYSE Euronext
|
$
|
0.12
|
|
|
$
|
0.44
|
|
|
$
|
0.43
|
|
|
|
$
|
1.39
|
|
|
$
|
2.36
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic weighted average shares outstanding
|
|
243
|
|
|
|
246
|
|
|
|
260
|
|
|
|
|
250
|
|
|
|
261
|
|
|
Diluted weighted average shares outstanding
|
|
244
|
|
|
|
247
|
|
|
|
262
|
|
|
|
|
250
|
|
|
|
263
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
We use non-GAAP financial measures of operating performance. Non-GAAP
measures do not replace and are not superior to the presentation of our
GAAP financial results but are provided to improve overall understanding
of our current financial performance and our prospects for the future.
|
|
Three months ended
|
|
|
Year ended Dec. 31,
|
|
Non-GAAP Reconciliation
|
Dec. 31, 2012
|
|
Sept. 30, 2012
|
|
Dec. 31, 2011
|
|
|
|
2012
|
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes - GAAP
|
$
|
45
|
|
|
$
|
124
|
|
|
$
|
92
|
|
|
|
$
|
470
|
|
|
$
|
725
|
|
|
Excluding:
|
|
|
|
|
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
73
|
|
|
|
18
|
|
|
|
46
|
|
|
|
|
134
|
|
|
|
114
|
|
|
Debt refinancing costs
|
|
24
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
24
|
|
|
|
-
|
|
|
BlueNext tax settlement
|
|
-
|
|
|
|
-
|
|
|
|
42
|
|
|
|
|
-
|
|
|
|
42
|
|
|
Net loss on disposal activities
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
2
|
|
|
|
-
|
|
|
Income before income taxes - as adjusted
|
|
142
|
|
|
|
142
|
|
|
|
180
|
|
|
|
|
630
|
|
|
|
881
|
|
|
Income tax provision
|
|
(34
|
)
|
|
|
(30
|
)
|
|
|
(47
|
)
|
|
|
|
(151
|
)
|
|
|
(227
|
)
|
|
Net income - as adjusted
|
|
108
|
|
|
|
112
|
|
|
|
133
|
|
|
|
|
479
|
|
|
|
654
|
|
|
Net (income) loss attributable to noncontrolling interest
|
|
(3
|
)
|
|
|
(4
|
)
|
|
|
14
|
|
|
|
|
(17
|
)
|
|
|
16
|
|
|
Excluding:
|
|
|
|
|
|
|
|
|
|
|
|
Noncontrolling interest impact on BlueNext tax settlement
|
|
-
|
|
|
|
-
|
|
|
|
(17
|
)
|
|
|
|
-
|
|
|
|
(17
|
)
|
|
Net income attributable to NYSE Euronext - as adjusted
|
$
|
105
|
|
|
$
|
108
|
|
|
$
|
130
|
|
|
|
$
|
462
|
|
|
$
|
653
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per share attributable to NYSE Euronext
|
$
|
0.43
|
|
|
$
|
0.44
|
|
|
$
|
0.50
|
|
|
|
$
|
1.84
|
|
|
$
|
2.48
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext
|
|
Segment Results (unaudited)
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
Three months ended
|
|
|
|
December 31, 2012
|
|
|
December 31, 2011
|
|
|
|
|
|
|
|
Information
|
|
|
|
|
|
|
|
|
|
|
Information
|
|
|
|
|
|
|
|
|
|
|
|
Services and
|
|
Corporate
|
|
|
|
|
|
|
Cash
|
|
Services and
|
|
|
|
|
|
|
|
|
|
Cash Trading
|
|
Technology
|
|
and
|
|
|
|
|
|
|
Trading and
|
|
Technology
|
|
Corporate and
|
|
|
|
|
|
Derivatives
|
|
and Listings
|
|
Solutions
|
|
Eliminations
|
|
Consolidated
|
|
|
Derivatives
|
|
Listings
|
|
Solutions
|
|
Eliminations
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction and clearing fees
|
|
$
|
198
|
|
|
$
|
367
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
565
|
|
|
|
$
|
221
|
|
|
$
|
480
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
701
|
|
|
Market data
|
|
|
10
|
|
|
|
42
|
|
|
|
33
|
|
|
|
-
|
|
|
|
85
|
|
|
|
|
13
|
|
|
|
46
|
|
|
|
31
|
|
|
|
-
|
|
|
|
90
|
|
|
Listing
|
|
|
-
|
|
|
|
114
|
|
|
|
-
|
|
|
|
-
|
|
|
|
114
|
|
|
|
|
-
|
|
|
|
112
|
|
|
|
-
|
|
|
|
-
|
|
|
|
112
|
|
|
Technology services
|
|
|
-
|
|
|
|
-
|
|
|
|
87
|
|
|
|
-
|
|
|
|
87
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
96
|
|
|
|
(1
|
)
|
|
|
95
|
|
|
Other revenues
|
|
|
13
|
|
|
|
45
|
|
|
|
-
|
|
|
|
-
|
|
|
|
58
|
|
|
|
|
10
|
|
|
|
45
|
|
|
|
-
|
|
|
|
1
|
|
|
|
56
|
|
|
Total revenues
|
|
|
221
|
|
|
|
568
|
|
|
|
120
|
|
|
|
-
|
|
|
|
909
|
|
|
|
|
244
|
|
|
|
683
|
|
|
|
127
|
|
|
|
-
|
|
|
|
1,054
|
|
|
Transaction-based expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Section 31 fees
|
|
|
-
|
|
|
|
75
|
|
|
|
-
|
|
|
|
-
|
|
|
|
75
|
|
|
|
|
-
|
|
|
|
84
|
|
|
|
-
|
|
|
|
-
|
|
|
|
84
|
|
|
Liquidity payments, routing and clearing
|
|
|
61
|
|
|
|
211
|
|
|
|
-
|
|
|
|
-
|
|
|
|
272
|
|
|
|
|
58
|
|
|
|
284
|
|
|
|
-
|
|
|
|
-
|
|
|
|
342
|
|
|
Total revenues, less transaction-based expenses
|
|
160
|
|
|
|
282
|
|
|
|
120
|
|
|
|
-
|
|
|
|
562
|
|
|
|
|
186
|
|
|
|
315
|
|
|
|
127
|
|
|
|
-
|
|
|
|
628
|
|
|
Depreciation and amortization
|
[a]
|
|
9
|
|
|
|
41
|
|
|
|
14
|
|
|
|
-
|
|
|
|
64
|
|
|
|
|
10
|
|
|
|
43
|
|
|
|
15
|
|
|
|
-
|
|
|
|
68
|
|
|
BlueNext tax settlement
|
[b]
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
42
|
|
|
|
-
|
|
|
|
-
|
|
|
|
42
|
|
|
Merger expenses and exit costs (M&E)
|
[c]
|
|
12
|
|
|
|
13
|
|
|
|
6
|
|
|
|
42
|
|
|
|
73
|
|
|
|
|
-
|
|
|
|
8
|
|
|
|
-
|
|
|
|
38
|
|
|
|
46
|
|
|
Other operating expenses
|
|
|
88
|
|
|
|
141
|
|
|
|
71
|
|
|
|
28
|
|
|
|
328
|
|
|
|
|
90
|
|
|
|
147
|
|
|
|
81
|
|
|
|
30
|
|
|
|
348
|
|
|
Operating income - GAAP
|
[d]
|
$
|
51
|
|
|
$
|
87
|
|
|
$
|
29
|
|
|
$
|
(70
|
)
|
|
$
|
97
|
|
|
|
$
|
86
|
|
|
$
|
75
|
|
|
$
|
31
|
|
|
$
|
(68
|
)
|
|
$
|
124
|
|
|
Operating income excluding M&E
|
[d] + [c] + [b]
|
$
|
63
|
|
|
$
|
100
|
|
|
$
|
35
|
|
|
$
|
(28
|
)
|
|
$
|
170
|
|
|
|
$
|
86
|
|
|
$
|
125
|
|
|
$
|
31
|
|
|
$
|
(30
|
)
|
|
$
|
212
|
|
|
Adjusted EBITDA
|
[d] + [c] + [b] + [a]
|
$
|
72
|
|
|
$
|
141
|
|
|
$
|
49
|
|
|
$
|
(28
|
)
|
|
$
|
234
|
|
|
|
$
|
96
|
|
|
$
|
168
|
|
|
$
|
46
|
|
|
$
|
(30
|
)
|
|
$
|
280
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin excluding M&E & BlueNext tax settlement
|
|
39
|
%
|
|
|
35
|
%
|
|
|
29
|
%
|
|
|
N/M
|
|
|
|
30
|
%
|
|
|
|
46
|
%
|
|
|
40
|
%
|
|
|
24
|
%
|
|
|
N/M
|
|
|
|
34
|
%
|
|
Adjusted EBITDA margin
|
|
|
45
|
%
|
|
|
50
|
%
|
|
|
41
|
%
|
|
|
N/M
|
|
|
|
42
|
%
|
|
|
|
52
|
%
|
|
|
53
|
%
|
|
|
36
|
%
|
|
|
N/M
|
|
|
|
45
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended
|
|
|
Year ended
|
|
|
|
December 31, 2012
|
|
|
December 31, 2011
|
|
|
|
|
|
|
|
Information
|
|
|
|
|
|
|
|
|
|
|
Information
|
|
|
|
|
|
|
|
|
|
|
|
Services and
|
|
Corporate
|
|
|
|
|
|
|
Cash
|
|
Services and
|
|
|
|
|
|
|
|
|
|
Cash Trading
|
|
Technology
|
|
and
|
|
|
|
|
|
|
Trading and
|
|
Technology
|
|
Corporate and
|
|
|
|
|
|
Derivatives
|
|
and Listings
|
|
Solutions
|
|
Eliminations
|
|
Consolidated
|
|
|
Derivatives
|
|
Listings
|
|
Solutions
|
|
Eliminations
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transaction and clearing fees
|
|
$
|
821
|
|
|
$
|
1,572
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
2,393
|
|
|
|
$
|
1,046
|
|
|
$
|
2,116
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
3,162
|
|
|
Market data
|
|
|
43
|
|
|
|
173
|
|
|
|
132
|
|
|
|
-
|
|
|
|
348
|
|
|
|
|
48
|
|
|
|
193
|
|
|
|
130
|
|
|
|
-
|
|
|
|
371
|
|
|
Listing
|
|
|
-
|
|
|
|
448
|
|
|
|
-
|
|
|
|
-
|
|
|
|
448
|
|
|
|
|
-
|
|
|
|
446
|
|
|
|
-
|
|
|
|
-
|
|
|
|
446
|
|
|
Technology services
|
|
|
-
|
|
|
|
-
|
|
|
|
341
|
|
|
|
-
|
|
|
|
341
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
360
|
|
|
|
(2
|
)
|
|
|
358
|
|
|
Other revenues
|
|
|
46
|
|
|
|
172
|
|
|
|
-
|
|
|
|
1
|
|
|
|
219
|
|
|
|
|
41
|
|
|
|
174
|
|
|
|
-
|
|
|
|
-
|
|
|
|
215
|
|
|
Total revenues
|
|
|
910
|
|
|
|
2,365
|
|
|
|
473
|
|
|
|
1
|
|
|
|
3,749
|
|
|
|
|
1,135
|
|
|
|
2,929
|
|
|
|
490
|
|
|
|
(2
|
)
|
|
|
4,552
|
|
|
Transaction-based expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Section 31 fees
|
|
|
-
|
|
|
|
301
|
|
|
|
-
|
|
|
|
-
|
|
|
|
301
|
|
|
|
|
-
|
|
|
|
371
|
|
|
|
-
|
|
|
|
-
|
|
|
|
371
|
|
|
Liquidity payments, routing and clearing
|
|
|
228
|
|
|
|
896
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,124
|
|
|
|
|
274
|
|
|
|
1,235
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,509
|
|
|
Total revenues, less transaction-based expenses
|
|
682
|
|
|
|
1,168
|
|
|
|
473
|
|
|
|
1
|
|
|
|
2,324
|
|
|
|
|
861
|
|
|
|
1,323
|
|
|
|
490
|
|
|
|
(2
|
)
|
|
|
2,672
|
|
|
Depreciation and amortization
|
[a]
|
|
39
|
|
|
|
167
|
|
|
|
54
|
|
|
|
-
|
|
|
|
260
|
|
|
|
|
50
|
|
|
|
182
|
|
|
|
48
|
|
|
|
-
|
|
|
|
280
|
|
|
BlueNext tax settlement
|
[b]
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
|
-
|
|
|
|
42
|
|
|
|
-
|
|
|
|
-
|
|
|
|
42
|
|
|
Merger expenses and exit costs (M&E)
|
[c]
|
|
33
|
|
|
|
28
|
|
|
|
18
|
|
|
|
55
|
|
|
|
134
|
|
|
|
|
3
|
|
|
|
19
|
|
|
|
4
|
|
|
|
88
|
|
|
|
114
|
|
|
Other operating expenses
|
|
|
348
|
|
|
|
551
|
|
|
|
306
|
|
|
|
116
|
|
|
|
1,321
|
|
|
|
|
338
|
|
|
|
608
|
|
|
|
316
|
|
|
|
124
|
|
|
|
1,386
|
|
|
Operating income - GAAP
|
[d]
|
$
|
262
|
|
|
$
|
422
|
|
|
$
|
95
|
|
|
$
|
(170
|
)
|
|
$
|
609
|
|
|
|
$
|
470
|
|
|
$
|
472
|
|
|
$
|
122
|
|
|
$
|
(214
|
)
|
|
$
|
850
|
|
|
Operating income excluding M&E
|
[d] + [c] + [b]
|
$
|
295
|
|
|
$
|
450
|
|
|
$
|
113
|
|
|
$
|
(115
|
)
|
|
$
|
743
|
|
|
|
$
|
473
|
|
|
$
|
533
|
|
|
$
|
126
|
|
|
$
|
(126
|
)
|
|
$
|
1,006
|
|
|
Adjusted EBITDA
|
[d] + [c] + [b] + [a]
|
$
|
334
|
|
|
$
|
617
|
|
|
$
|
167
|
|
|
$
|
(115
|
)
|
|
$
|
1,003
|
|
|
|
$
|
523
|
|
|
$
|
715
|
|
|
$
|
174
|
|
|
$
|
(126
|
)
|
|
$
|
1,286
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating margin excluding M&E & BlueNext tax settlement
|
|
43
|
%
|
|
|
39
|
%
|
|
|
24
|
%
|
|
|
N/M
|
|
|
|
32
|
%
|
|
|
|
55
|
%
|
|
|
40
|
%
|
|
|
26
|
%
|
|
|
N/M
|
|
|
|
38
|
%
|
|
Adjusted EBITDA margin
|
|
|
49
|
%
|
|
|
53
|
%
|
|
|
35
|
%
|
|
|
N/M
|
|
|
|
43
|
%
|
|
|
|
61
|
%
|
|
|
54
|
%
|
|
|
36
|
%
|
|
|
N/M
|
|
|
|
48
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
We use non-GAAP financial measures of operating performance.
Non-GAAP measures do not replace and are not superior to the
presentation of our GAAP financial results but are provided to
improve overall understanding of our current financial performance
and our prospects for the future.
|
|
N/M = Not meaningful
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext
|
|
Fixed operating expenses (unaudited)
|
|
(in millions)
|
|
|
|
|
|
|
|
|
Expense Base Development on a Constant $ /
Constant Portfolio Basis
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the three months ended December 31,
2012 - GAAP
|
|
|
$
|
465
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(73
|
)
|
|
|
|
|
|
|
$
|
392
|
|
|
|
|
Excluding the impact of:
|
|
|
|
|
|
|
Currency translation
|
|
|
|
1
|
|
|
|
|
New business initiatives
|
|
|
|
(13
|
)
|
|
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the three months ended December 31,
2012 - as adjusted
|
|
|
$
|
380
|
|
|
[a]
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the three months ended December 31,
2011 - GAAP
|
|
|
$
|
504
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(46
|
)
|
|
|
|
BlueNext tax settlement
|
|
|
|
(42
|
)
|
|
|
|
|
|
|
$
|
416
|
|
|
[b]
|
|
|
|
|
|
|
|
|
Variance ($)
|
|
|
$
|
(36
|
)
|
|
[a] - [b] = [c]
|
|
Variance (%)
|
|
|
|
-9
|
%
|
|
[c] / [b]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2012 - GAAP
|
|
|
$
|
1,715
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(134
|
)
|
|
|
|
|
|
|
$
|
1,581
|
|
|
|
|
Excluding the impact of:
|
|
|
|
|
|
|
Currency translation
|
|
|
|
27
|
|
|
|
|
New business initiatives
|
|
|
|
(42
|
)
|
|
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2012 - as
adjusted
|
|
|
$
|
1,566
|
|
|
[a]
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2011 - GAAP
|
|
|
$
|
1,822
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(114
|
)
|
|
|
|
BlueNext tax settlement
|
|
|
|
(42
|
)
|
|
|
|
|
|
|
$
|
1,666
|
|
|
[b]
|
|
|
|
|
|
|
|
|
Variance ($)
|
|
|
$
|
(100
|
)
|
|
[a] - [b] = [c]
|
|
Variance (%)
|
|
|
|
-6
|
%
|
|
[c] / [b]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Expense Base Development Versus Project 14
Cost Savings Plan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2012 - GAAP
|
|
|
$
|
1,715
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(134
|
)
|
|
|
|
New business initiatives
|
|
|
|
(44
|
)
|
|
|
|
Currency translation(1)
|
|
|
|
14
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2012 - as
adjusted
|
|
|
$
|
1,551
|
|
|
[a]
|
|
|
|
|
|
|
|
|
Fixed operating expenses for the year ended December 31, 2011 - GAAP
|
|
|
$
|
1,822
|
|
|
|
|
Less:
|
|
|
|
|
|
|
Merger expenses and exit costs
|
|
|
|
(114
|
)
|
|
|
|
BlueNext tax settlement
|
|
|
|
(42
|
)
|
|
|
|
Fixed operating expenses for the year ended December 31, 2011 - as
adjusted
|
|
|
$
|
1,666
|
|
|
[b]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year to Date Project 14 Cost Savings - ($)
|
|
|
$
|
115
|
|
|
[b]-[a] = [c]
|
|
|
|
|
|
|
|
|
Year to Date Project 14 Cost Savings - (%)
|
|
|
|
7
|
%
|
|
[c] / [b]
|
|
|
|
|
|
|
|
|
Project 14 Cost Savings to date as % of total $250 million plan
|
|
|
|
46
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
|
We measure the Project 14 cost savings utilizing constant currency
rates of $1.35 for the Euro and $1.60 for the Pound Sterling.
|
|
|
|
|
|
|
|
We use non-GAAP financial measures of operating performance.
Non-GAAP measures do not replace and are not superior to the
presentation of our GAAP financial results but are provided to
improve overall understanding of our current financial performance
and our prospects for the future.
|
|
|
|
|
|
|
|
NYSE Euronext
|
|
Condensed consolidated statements of financial condition (unaudited)
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
Assets
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
Cash, cash equivalents, and short term financial investments
|
|
|
$
|
380
|
|
|
$
|
432
|
|
Accounts receivable, net
|
|
|
|
405
|
|
|
|
497
|
|
Deferred income taxes
|
|
|
|
67
|
|
|
|
108
|
|
Other current assets
|
|
|
|
156
|
|
|
|
152
|
|
Total current assets
|
|
|
|
1,008
|
|
|
|
1,189
|
|
|
|
|
|
|
|
|
|
Property and equipment, net
|
|
|
|
948
|
|
|
|
963
|
|
Goodwill
|
|
|
|
4,163
|
|
|
|
4,027
|
|
Other intangible assets, net
|
|
|
|
5,783
|
|
|
|
5,697
|
|
Deferred income taxes
|
|
|
|
74
|
|
|
|
594
|
|
Other assets
|
|
|
|
580
|
|
|
|
637
|
|
Total assets
|
|
|
$
|
12,556
|
|
|
$
|
13,107
|
|
|
|
|
|
|
|
|
|
Liabilities and equity
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses
|
|
|
$
|
824
|
|
|
$
|
992
|
|
Deferred revenue
|
|
|
|
138
|
|
|
|
130
|
|
Short term debt
|
|
|
|
454
|
|
|
|
39
|
|
Deferred income taxes
|
|
|
|
-
|
|
|
|
23
|
|
Total current liabilities
|
|
|
|
1,416
|
|
|
|
1,184
|
|
|
|
|
|
|
|
|
|
Long term debt
|
|
|
|
2,055
|
|
|
|
2,036
|
|
Deferred income taxes
|
|
|
|
1,435
|
|
|
|
1,900
|
|
Accrued employee benefits
|
|
|
|
602
|
|
|
|
620
|
|
Deferred revenue
|
|
|
|
378
|
|
|
|
371
|
|
Other liabilities
|
|
|
|
27
|
|
|
|
63
|
|
Total liabilities
|
|
|
|
5,913
|
|
|
|
6,174
|
|
|
|
|
|
|
|
|
|
Redeemable noncontrolling interest
|
|
|
|
274
|
|
|
|
295
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
6,369
|
|
|
|
6,638
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity
|
|
|
$
|
12,556
|
|
|
$
|
13,107
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext
|
|
Selected Statistical Data:
|
|
Volume Summary
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average Daily Volume
|
|
|
Total Volume
|
|
|
Average Daily Volume
|
|
|
Total Volume
|
|
(Unaudited)
|
|
4Q12
|
|
3Q12
|
|
% ∆ 4Q12 vs. 3Q12
|
|
4Q11
|
|
% ∆ 4Q12 vs. 4Q11
|
|
|
4Q12
|
|
3Q12
|
|
% ∆ 4Q12 vs. 3Q12
|
|
4Q11
|
|
% ∆ 4Q12 vs. 4Q11
|
|
|
FY 2012
|
|
FY 2011
|
|
% ∆
|
|
|
FY 2012
|
|
FY 2011
|
|
% ∆
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Trading Days - European Cash
|
|
|
64
|
|
|
|
65
|
|
|
|
|
|
64
|
|
|
|
|
|
|
64
|
|
|
|
65
|
|
|
|
|
|
64
|
|
|
|
|
|
256
|
|
|
257
|
|
|
|
|
|
256
|
|
|
257
|
|
|
|
|
Number of Trading Days - European Derivatives
|
|
|
64
|
|
|
|
65
|
|
|
|
|
|
64
|
|
|
|
|
|
|
64
|
|
|
|
65
|
|
|
|
|
|
64
|
|
|
|
|
|
257
|
|
|
257
|
|
|
|
|
|
257
|
|
|
257
|
|
|
|
|
Number of Trading Days - U.S. Markets
|
|
|
62
|
|
|
|
63
|
|
|
|
|
|
63
|
|
|
|
|
|
|
62
|
|
|
|
63
|
|
|
|
|
|
63
|
|
|
|
|
|
250
|
|
|
252
|
|
|
|
|
|
250
|
|
|
252
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
European Derivatives Products (contracts in thousands)
|
|
|
3,534
|
|
|
|
3,383
|
|
|
4.5
|
%
|
|
|
3,615
|
|
|
-2.3
|
%
|
|
|
|
226,159
|
|
|
|
219,866
|
|
|
2.9
|
%
|
|
|
231,383
|
|
|
-2.3
|
%
|
|
|
3,719
|
|
|
4,469
|
|
|
-16.8
|
%
|
|
|
955,802
|
|
|
1,148,498
|
|
|
-16.8
|
%
|
|
of which Bclear
|
|
|
1,190
|
|
|
|
829
|
|
|
43.6
|
%
|
|
|
868
|
|
|
37.1
|
%
|
|
|
|
76,142
|
|
|
|
53,856
|
|
|
41.4
|
%
|
|
|
55,525
|
|
|
37.1
|
%
|
|
|
1,103
|
|
|
1,141
|
|
|
-3.3
|
%
|
|
|
283,554
|
|
|
293,243
|
|
|
-3.3
|
%
|
|
Avg. Net Revenue Per Contract (ex. Bclear)
|
|
$
|
0.673
|
|
|
$
|
0.657
|
|
|
2.4
|
%
|
|
$
|
0.698
|
|
|
-3.6
|
%
|
|
|
$
|
0.673
|
|
|
$
|
0.657
|
|
|
2.4
|
%
|
|
$
|
0.698
|
|
|
-3.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Avg. Net Revenue Per Contract (ex. Bclear) - Currency Neutral
|
|
$
|
0.673
|
|
|
$
|
0.667
|
|
|
0.9
|
%
|
|
$
|
0.713
|
|
|
-5.6
|
%
|
|
|
$
|
0.673
|
|
|
$
|
0.667
|
|
|
0.9
|
%
|
|
$
|
0.713
|
|
|
-5.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Interest Rate Products1
|
|
|
1,562
|
|
|
|
1,731
|
|
|
-9.8
|
%
|
|
|
1,802
|
|
|
-13.3
|
%
|
|
|
|
99,978
|
|
|
|
112,531
|
|
|
-11.2
|
%
|
|
|
115,305
|
|
|
-13.3
|
%
|
|
|
1,754
|
|
|
2,250
|
|
|
-22.0
|
%
|
|
|
450,896
|
|
|
578,255
|
|
|
-22.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short Term Interest Rate Products
|
|
|
1,406
|
|
|
|
1,583
|
|
|
-11.2
|
%
|
|
|
1,668
|
|
|
-15.7
|
%
|
|
|
|
89,977
|
|
|
|
102,912
|
|
|
-12.6
|
%
|
|
|
106,737
|
|
|
-15.7
|
%
|
|
|
1,602
|
|
|
2,111
|
|
|
-24.1
|
%
|
|
|
411,806
|
|
|
542,541
|
|
|
-24.1
|
%
|
|
Medium and Long Term Interest Rate Products
|
|
|
156
|
|
|
|
148
|
|
|
5.6
|
%
|
|
|
134
|
|
|
16.7
|
%
|
|
|
|
10,001
|
|
|
|
9,619
|
|
|
4.0
|
%
|
|
|
8,568
|
|
|
16.7
|
%
|
|
|
152
|
|
|
139
|
|
|
9.5
|
%
|
|
|
39,089
|
|
|
35,714
|
|
|
9.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Equity Products2
|
|
|
1,875
|
|
|
|
1,551
|
|
|
20.9
|
%
|
|
|
1,742
|
|
|
7.6
|
%
|
|
|
|
120,005
|
|
|
|
100,803
|
|
|
19.0
|
%
|
|
|
111,480
|
|
|
7.6
|
%
|
|
|
1,875
|
|
|
2,138
|
|
|
-12.3
|
%
|
|
|
481,969
|
|
|
549,513
|
|
|
-12.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individual Equity Products
|
|
|
1,430
|
|
|
|
1,100
|
|
|
30.0
|
%
|
|
|
1,215
|
|
|
17.7
|
%
|
|
|
|
91,542
|
|
|
|
71,513
|
|
|
28.0
|
%
|
|
|
77,775
|
|
|
17.7
|
%
|
|
|
1,398
|
|
|
1,560
|
|
|
-10.4
|
%
|
|
|
359,382
|
|
|
401,004
|
|
|
-10.4
|
%
|
|
Futures
|
|
|
1,049
|
|
|
|
696
|
|
|
50.6
|
%
|
|
|
707
|
|
|
48.3
|
%
|
|
|
|
67,140
|
|
|
|
45,265
|
|
|
48.3
|
%
|
|
|
45,273
|
|
|
48.3
|
%
|
|
|
959
|
|
|
974
|
|
|
-1.6
|
%
|
|
|
246,542
|
|
|
250,442
|
|
|
-1.6
|
%
|
|
Options
|
|
|
381
|
|
|
|
404
|
|
|
-5.6
|
%
|
|
|
508
|
|
|
-24.9
|
%
|
|
|
|
24,402
|
|
|
|
26,248
|
|
|
-7.0
|
%
|
|
|
32,503
|
|
|
-24.9
|
%
|
|
|
439
|
|
|
586
|
|
|
-25.1
|
%
|
|
|
112,841
|
|
|
150,562
|
|
|
-25.1
|
%
|
|
Equity Index Products
|
|
|
445
|
|
|
|
451
|
|
|
-1.3
|
%
|
|
|
527
|
|
|
-15.6
|
%
|
|
|
|
28,463
|
|
|
|
29,290
|
|
|
-2.8
|
%
|
|
|
33,705
|
|
|
-15.6
|
%
|
|
|
477
|
|
|
578
|
|
|
-17.5
|
%
|
|
|
122,587
|
|
|
148,509
|
|
|
-17.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of which Bclear
|
|
|
1,190
|
|
|
|
829
|
|
|
43.6
|
%
|
|
|
868
|
|
|
37.1
|
%
|
|
|
|
76,142
|
|
|
|
53,856
|
|
|
41.4
|
%
|
|
|
55,525
|
|
|
37.1
|
%
|
|
|
1,103
|
|
|
1,141
|
|
|
-3.3
|
%
|
|
|
283,554
|
|
|
293,243
|
|
|
-3.3
|
%
|
|
Individual Equity Products
|
|
|
1,106
|
|
|
|
754
|
|
|
46.7
|
%
|
|
|
789
|
|
|
40.2
|
%
|
|
|
|
70,803
|
|
|
|
49,014
|
|
|
44.5
|
%
|
|
|
50,508
|
|
|
40.2
|
%
|
|
|
1,027
|
|
|
1,060
|
|
|
-3.1
|
%
|
|
|
263,840
|
|
|
272,384
|
|
|
-3.1
|
%
|
|
Futures
|
|
|
1,038
|
|
|
|
670
|
|
|
54.9
|
%
|
|
|
698
|
|
|
48.8
|
%
|
|
|
|
66,435
|
|
|
|
43,560
|
|
|
52.5
|
%
|
|
|
44,658
|
|
|
48.8
|
%
|
|
|
938
|
|
|
959
|
|
|
-2.2
|
%
|
|
|
240,967
|
|
|
246,425
|
|
|
-2.2
|
%
|
|
Options
|
|
|
68
|
|
|
|
84
|
|
|
-18.7
|
%
|
|
|
91
|
|
|
-25.3
|
%
|
|
|
|
4,368
|
|
|
|
5,454
|
|
|
-19.9
|
%
|
|
|
5,850
|
|
|
-25.3
|
%
|
|
|
89
|
|
|
101
|
|
|
-11.9
|
%
|
|
|
22,873
|
|
|
25,959
|
|
|
-11.9
|
%
|
|
Equity Index Products
|
|
|
83
|
|
|
|
74
|
|
|
12.0
|
%
|
|
|
78
|
|
|
6.4
|
%
|
|
|
|
5,339
|
|
|
|
4,842
|
|
|
10.3
|
%
|
|
|
5,017
|
|
|
6.4
|
%
|
|
|
77
|
|
|
81
|
|
|
-5.5
|
%
|
|
|
19,714
|
|
|
20,858
|
|
|
-5.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commodity Products
|
|
|
97
|
|
|
|
100
|
|
|
-4.0
|
%
|
|
|
72
|
|
|
34.3
|
%
|
|
|
|
6,176
|
|
|
|
6,532
|
|
|
-5.4
|
%
|
|
|
4,598
|
|
|
34.3
|
%
|
|
|
89
|
|
|
81
|
|
|
10.6
|
%
|
|
|
22,937
|
|
|
20,730
|
|
|
10.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Derivatives Products (contracts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Avg. Net Revenue Per Contract (ex. Liffe U.S. volumes)
|
|
$
|
0.142
|
|
|
$
|
0.144
|
|
|
-1.4
|
%
|
|
$
|
0.148
|
|
|
-4.1
|
%
|
|
|
$
|
0.142
|
|
|
$
|
0.144
|
|
|
-1.4
|
%
|
|
$
|
0.148
|
|
|
-4.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity Options Contracts3
|
|
|
4,000
|
|
|
|
3,533
|
|
|
13.2
|
%
|
|
|
4,286
|
|
|
-6.7
|
%
|
|
|
|
248,007
|
|
|
|
222,578
|
|
|
11.4
|
%
|
|
|
270,024
|
|
|
-8.2
|
%
|
|
|
3,893
|
|
|
4,406
|
|
|
-11.6
|
%
|
|
|
973,140
|
|
|
1,110,193
|
|
|
-12.3
|
%
|
|
Total Consolidated Options Contracts
|
|
|
14,318
|
|
|
|
13,812
|
|
|
3.7
|
%
|
|
|
15,497
|
|
|
-7.6
|
%
|
|
|
|
887,740
|
|
|
|
870,150
|
|
|
2.0
|
%
|
|
|
976,280
|
|
|
-9.1
|
%
|
|
|
14,727
|
|
|
16,764
|
|
|
-12.2
|
%
|
|
|
3,681,821
|
|
|
4,224,605
|
|
|
99.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Total Consolidated Options Contracts
|
|
|
27.9
|
%
|
|
|
25.6
|
%
|
|
|
|
|
27.7
|
%
|
|
|
|
|
|
27.9
|
%
|
|
|
25.6
|
%
|
|
|
|
|
27.7
|
%
|
|
|
|
|
26.4
|
%
|
|
26.3
|
%
|
|
|
|
|
26.4
|
%
|
|
26.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Liffe U.S.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Futures and Futures Options Volume*
|
|
|
55.2
|
|
|
|
66.4
|
|
|
-16.8
|
%
|
|
|
91.2
|
|
|
-39.4
|
%
|
|
|
|
3,591.0
|
|
|
|
4,247.6
|
|
|
-15.5
|
%
|
|
|
5,837.8
|
|
|
-38.5
|
%
|
|
|
72.7
|
|
|
81.2
|
|
|
-10.4
|
%
|
|
|
18,769.2
|
|
|
20,937.6
|
|
|
-10.4
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
European Cash Products (trades in thousands)
|
|
|
1,179
|
|
|
|
1,318
|
|
|
-10.6
|
%
|
|
|
1,585
|
|
|
-25.6
|
%
|
|
|
|
75,457
|
|
|
|
85,695
|
|
|
-11.9
|
%
|
|
|
101,450
|
|
|
-25.6
|
%
|
|
|
1,445
|
|
|
1,711
|
|
|
-15.5
|
%
|
|
|
370,013
|
|
|
439,717
|
|
|
-15.9
|
%
|
|
Avg. Net Revenue Per Transaction
|
|
$
|
0.583
|
|
|
$
|
0.537
|
|
|
8.6
|
%
|
|
$
|
0.582
|
|
|
0.2
|
%
|
|
|
$
|
0.583
|
|
|
$
|
0.537
|
|
|
8.6
|
%
|
|
$
|
0.582
|
|
|
0.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Avg. Net Revenue Per Transaction - Currency Neutral
|
|
$
|
0.583
|
|
|
$
|
0.556
|
|
|
4.9
|
%
|
|
$
|
0.560
|
|
|
4.1
|
%
|
|
|
$
|
0.583
|
|
|
$
|
0.556
|
|
|
4.9
|
%
|
|
$
|
0.560
|
|
|
4.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equities
|
|
|
1,134
|
|
|
|
1,272
|
|
|
-10.9
|
%
|
|
|
1,522
|
|
|
-25.5
|
%
|
|
|
|
72,560
|
|
|
|
82,698
|
|
|
-12.3
|
%
|
|
|
97,434
|
|
|
-25.5
|
%
|
|
|
1,396
|
|
|
1,644
|
|
|
-15.1
|
%
|
|
|
357,365
|
|
|
422,517
|
|
|
-15.4
|
%
|
|
Exchange-Traded Funds
|
|
|
12
|
|
|
|
13
|
|
|
-5.5
|
%
|
|
|
20
|
|
|
-40.5
|
%
|
|
|
|
762
|
|
|
|
819
|
|
|
-6.9
|
%
|
|
|
1,281
|
|
|
-40.5
|
%
|
|
|
13
|
|
|
21
|
|
|
-35.0
|
%
|
|
|
3,412
|
|
|
5,270
|
|
|
-35.2
|
%
|
|
Structured Products
|
|
|
28
|
|
|
|
28
|
|
|
-2.3
|
%
|
|
|
38
|
|
|
-27.4
|
%
|
|
|
|
1,760
|
|
|
|
1,831
|
|
|
-3.8
|
%
|
|
|
2,426
|
|
|
-27.4
|
%
|
|
|
31
|
|
|
41
|
|
|
-25.7
|
%
|
|
|
7,886
|
|
|
10,649
|
|
|
-26.0
|
%
|
|
Bonds
|
|
|
6
|
|
|
|
5
|
|
|
9.4
|
%
|
|
|
5
|
|
|
21.0
|
%
|
|
|
|
375
|
|
|
|
348
|
|
|
7.7
|
%
|
|
|
309
|
|
|
21.0
|
%
|
|
|
5
|
|
|
5
|
|
|
5.8
|
%
|
|
|
1,350
|
|
|
1,281
|
|
|
5.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Cash Products (shares in millions)
|
|
|
1,551
|
|
|
|
1,583
|
|
|
-2.1
|
%
|
|
|
2,133
|
|
|
-27.3
|
%
|
|
|
|
96,158
|
|
|
|
99,758
|
|
|
-3.6
|
%
|
|
|
134,373
|
|
|
-28.4
|
%
|
|
|
1,685
|
|
|
2,283
|
|
|
-26.2
|
%
|
|
|
421,338
|
|
|
575,223
|
|
|
-26.8
|
%
|
|
Avg. Net Revenue Per 100 Shares Handled
|
|
$
|
0.0399
|
|
|
$
|
0.0401
|
|
|
-0.5
|
%
|
|
$
|
0.0394
|
|
|
1.3
|
%
|
|
|
$
|
0.0399
|
|
|
$
|
0.0401
|
|
|
-0.5
|
%
|
|
$
|
0.0394
|
|
|
1.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Listed (Tape A) Issues 4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
1,115
|
|
|
|
1,134
|
|
|
-1.7
|
%
|
|
|
1,490
|
|
|
-25.2
|
%
|
|
|
|
69,126
|
|
|
|
71,463
|
|
|
-3.3
|
%
|
|
|
93,849
|
|
|
-26.3
|
%
|
|
|
1,207
|
|
|
1,607
|
|
|
-24.9
|
%
|
|
|
301,769
|
|
|
404,910
|
|
|
-25.5
|
%
|
|
Matched Volume 6
|
|
|
1,069
|
|
|
|
1,078
|
|
|
-0.9
|
%
|
|
|
1,412
|
|
|
-24.3
|
%
|
|
|
|
66,250
|
|
|
|
67,921
|
|
|
-2.5
|
%
|
|
|
88,942
|
|
|
-25.5
|
%
|
|
|
1,147
|
|
|
1,523
|
|
|
-24.7
|
%
|
|
|
286,785
|
|
|
383,863
|
|
|
-25.3
|
%
|
|
Total NYSE Listed Consolidated Volume
|
|
|
3,405
|
|
|
|
3,412
|
|
|
-0.2
|
%
|
|
|
4,172
|
|
|
-18.4
|
%
|
|
|
|
211,117
|
|
|
|
214,981
|
|
|
-1.8
|
%
|
|
|
262,852
|
|
|
-19.7
|
%
|
|
|
3,659
|
|
|
4,370
|
|
|
-16.3
|
%
|
|
|
914,654
|
|
|
1,101,268
|
|
|
-16.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Total Consolidated Volume
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
32.7
|
%
|
|
|
33.2
|
%
|
|
|
|
|
35.7
|
%
|
|
|
|
|
|
32.7
|
%
|
|
|
33.2
|
%
|
|
|
|
|
35.7
|
%
|
|
|
|
|
33.0
|
%
|
|
36.8
|
%
|
|
|
|
|
33.0
|
%
|
|
36.8
|
%
|
|
|
|
Matched Volume 6
|
|
|
31.4
|
%
|
|
|
31.6
|
%
|
|
|
|
|
33.8
|
%
|
|
|
|
|
|
31.4
|
%
|
|
|
31.6
|
%
|
|
|
|
|
33.8
|
%
|
|
|
|
|
31.4
|
%
|
|
34.9
|
%
|
|
|
|
|
31.4
|
%
|
|
34.9
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Arca, MKT and Regional (Tape B) Listed Issues
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
225
|
|
|
|
222
|
|
|
1.1
|
%
|
|
|
372
|
|
|
-39.7
|
%
|
|
|
|
13,928
|
|
|
|
14,005
|
|
|
-0.5
|
%
|
|
|
23,458
|
|
|
-40.6
|
%
|
|
|
248
|
|
|
381
|
|
|
-35.0
|
%
|
|
|
61,957
|
|
|
96,040
|
|
|
-35.5
|
%
|
|
Matched Volume 6
|
|
|
208
|
|
|
|
202
|
|
|
2.8
|
%
|
|
|
335
|
|
|
-38.0
|
%
|
|
|
|
12,889
|
|
|
|
12,741
|
|
|
1.2
|
%
|
|
|
21,120
|
|
|
-39.0
|
%
|
|
|
225
|
|
|
343
|
|
|
-34.6
|
%
|
|
|
56,127
|
|
|
86,460
|
|
|
-35.1
|
%
|
|
Total NYSE Arca & NYSE MKT Listed Consolidated Volume
|
|
|
971
|
|
|
|
939
|
|
|
3.3
|
%
|
|
|
1,452
|
|
|
-33.1
|
%
|
|
|
|
60,182
|
|
|
|
59,184
|
|
|
1.7
|
%
|
|
|
91,461
|
|
|
-34.2
|
%
|
|
|
1,055
|
|
|
1,474
|
|
|
-28.4
|
%
|
|
|
263,832
|
|
|
371,409
|
|
|
-29.0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Total NYSE Arca & NYSE MKT Listed Consolidated Volume
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
23.1
|
%
|
|
|
23.7
|
%
|
|
|
|
|
25.6
|
%
|
|
|
|
|
|
23.1
|
%
|
|
|
23.7
|
%
|
|
|
|
|
25.6
|
%
|
|
|
|
|
23.5
|
%
|
|
25.9
|
%
|
|
|
|
|
23.5
|
%
|
|
25.9
|
%
|
|
|
|
Matched Volume 6
|
|
|
21.4
|
%
|
|
|
21.5
|
%
|
|
|
|
|
23.1
|
%
|
|
|
|
|
|
21.4
|
%
|
|
|
21.5
|
%
|
|
|
|
|
23.1
|
%
|
|
|
|
|
21.3
|
%
|
|
23.3
|
%
|
|
|
|
|
21.3
|
%
|
|
23.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nasdaq Listed Issues (Tape C)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
211
|
|
|
|
227
|
|
|
-6.8
|
%
|
|
|
271
|
|
|
-22.0
|
%
|
|
|
|
13,104
|
|
|
|
14,289
|
|
|
-8.3
|
%
|
|
|
17,066
|
|
|
-23.2
|
%
|
|
|
230
|
|
|
295
|
|
|
-21.8
|
%
|
|
|
57,612
|
|
|
74,274
|
|
|
-22.4
|
%
|
|
Matched Volume 6
|
|
|
189
|
|
|
|
196
|
|
|
-3.8
|
%
|
|
|
234
|
|
|
-19.4
|
%
|
|
|
|
11,688
|
|
|
|
12,342
|
|
|
-5.3
|
%
|
|
|
14,727
|
|
|
-20.6
|
%
|
|
|
199
|
|
|
254
|
|
|
-21.6
|
%
|
|
|
49,756
|
|
|
63,941
|
|
|
-22.2
|
%
|
|
Total Nasdaq Listed Consolidated Volume
|
|
|
1,736
|
|
|
|
1,661
|
|
|
4.5
|
%
|
|
|
1,854
|
|
|
-6.4
|
%
|
|
|
|
107,620
|
|
|
|
104,663
|
|
|
2.8
|
%
|
|
|
116,830
|
|
|
-7.9
|
%
|
|
|
1,749
|
|
|
2,022
|
|
|
-13.5
|
%
|
|
|
437,168
|
|
|
509,421
|
|
|
-14.2
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Total Nasdaq Listed Consolidated Volume
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
12.2
|
%
|
|
|
13.7
|
%
|
|
|
|
|
14.6
|
%
|
|
|
|
|
|
12.2
|
%
|
|
|
13.7
|
%
|
|
|
|
|
14.6
|
%
|
|
|
|
|
13.2
|
%
|
|
14.6
|
%
|
|
|
|
|
13.2
|
%
|
|
14.6
|
%
|
|
|
|
Matched Volume 6
|
|
|
10.9
|
%
|
|
|
11.8
|
%
|
|
|
|
|
12.6
|
%
|
|
|
|
|
|
10.9
|
%
|
|
|
11.8
|
%
|
|
|
|
|
12.6
|
%
|
|
|
|
|
11.4
|
%
|
|
12.6
|
%
|
|
|
|
|
11.4
|
%
|
|
12.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-Traded Funds 5,7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
213
|
|
|
|
205
|
|
|
3.9
|
%
|
|
|
359
|
|
|
-40.7
|
%
|
|
|
|
13,193
|
|
|
|
12,903
|
|
|
2.3
|
%
|
|
|
22,619
|
|
|
-41.7
|
%
|
|
|
233
|
|
|
360
|
|
|
-35.4
|
%
|
|
|
58,195
|
|
|
90,741
|
|
|
-35.9
|
%
|
|
Matched Volume 6
|
|
|
197
|
|
|
|
186
|
|
|
5.9
|
%
|
|
|
323
|
|
|
-38.9
|
%
|
|
|
|
12,229
|
|
|
|
11,739
|
|
|
4.2
|
%
|
|
|
20,350
|
|
|
-39.9
|
%
|
|
|
211
|
|
|
324
|
|
|
-34.9
|
%
|
|
|
52,682
|
|
|
81,632
|
|
|
-35.5
|
%
|
|
Total ETF Consolidated Volume
|
|
|
940
|
|
|
|
890
|
|
|
5.6
|
%
|
|
|
1,433
|
|
|
-34.4
|
%
|
|
|
|
58,263
|
|
|
|
56,048
|
|
|
4.0
|
%
|
|
|
90,268
|
|
|
-35.5
|
%
|
|
|
1,020
|
|
|
1,420
|
|
|
-28.2
|
%
|
|
|
255,004
|
|
|
357,841
|
|
|
-28.7
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Total ETF Consolidated Volume
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Handled Volume 5
|
|
|
22.6
|
%
|
|
|
23.0
|
%
|
|
|
|
|
25.1
|
%
|
|
|
|
|
|
22.6
|
%
|
|
|
23.0
|
%
|
|
|
|
|
25.1
|
%
|
|
|
|
|
22.8
|
%
|
|
25.4
|
%
|
|
|
|
|
22.8
|
%
|
|
25.4
|
%
|
|
|
|
Matched Volume 6
|
|
|
21.0
|
%
|
|
|
20.9
|
%
|
|
|
|
|
22.5
|
%
|
|
|
|
|
|
21.0
|
%
|
|
|
20.9
|
%
|
|
|
|
|
22.5
|
%
|
|
|
|
|
20.7
|
%
|
|
22.8
|
%
|
|
|
|
|
20.7
|
%
|
|
22.8
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
Data includes currency products.
|
|
2
|
|
Includes trading activities for Bclear, NYSE Liffe's service for
Equity OTC derivatives.
|
|
3
|
|
Includes trading in U.S. equity options contracts, not equity-index
options.
|
|
4
|
|
Includes all volume executed in NYSE Euronext's U.S. crossing
sessions.
|
|
5
|
|
Represents the total number of shares of equity securities and ETFs
internally matched on the NYSE Euronext's U.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 Euronext's U.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.
|
|
|
|
|
|
|
|
NYSE Euronext
|
|
Selected Statistical Data:
|
|
Other Operating Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
|
Full Year
|
|
(Unaudited)
|
|
Dec. 31, 2012
|
|
Sept. 30, 2012
|
|
Dec. 31, 2011
|
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext Listed Issuers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Listed Issuers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuers listed on U.S. Markets1
|
|
2,939
|
|
2,951
|
|
2,947
|
|
|
2,939
|
|
2,947
|
|
Number of new issuer listings1
|
|
70
|
|
44
|
|
43
|
|
|
296
|
|
426
|
|
Capital raised in connection with new listings ($millions)2
|
|
$5,971
|
|
$5,865
|
|
$4,079
|
|
|
$21,415
|
|
$27,388
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Euronext Listed Issuers
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Issuers listed on Euronext1
|
|
893
|
|
906
|
|
932
|
|
|
893
|
|
932
|
|
Number of new issuer listings3
|
|
14
|
|
6
|
|
12
|
|
|
40
|
|
59
|
|
Capital raised in connection with new listings ($millions)2
|
|
$36
|
|
$3
|
|
$7
|
|
|
$3,436
|
|
$213
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext Market Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Market Data4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of Tape A revenues (%)
|
|
41.6%
|
|
41.4%
|
|
43.0%
|
|
|
41.1%
|
|
45.2%
|
|
Share of Tape B revenues (%)
|
|
26.9%
|
|
27.2%
|
|
29.3%
|
|
|
27.0%
|
|
30.2%
|
|
Share of Tape C revenues (%)
|
|
14.4%
|
|
15.4%
|
|
17.5%
|
|
|
15.1%
|
|
18.6%
|
|
Professional subscribers (Tape A)
|
|
337,988
|
|
356,210
|
|
371,878
|
|
|
337,988
|
|
371,878
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Euronext Market Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of terminals
|
|
209,686
|
|
211,850
|
|
226,282
|
|
|
209,686
|
|
226,282
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext Operating Expenses
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext employee headcount
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext headcount5
|
|
3,079
|
|
3,061
|
|
3,077
|
|
|
3,079
|
|
3,077
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext Financial Statistics
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NYSE Euronext foreign exchange rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average €/US$ exchange rate
|
|
$1.298
|
|
$1.252
|
|
$1.348
|
|
|
$1.286
|
|
1.392
|
|
Average £/US$ exchange rate
|
|
$1.606
|
|
$1.581
|
|
$1.573
|
|
|
$1.585
|
|
1.604
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
|
|
Figures for NYSE listed issuers include listed operating companies,
special-purpose acquisition companies and closed-end funds listed on
the NYSE and NYSE MKT and do not include NYSE Arca or structured
products listed on the NYSE. There were 1,370 ETPs exclusively
listed on NYSE Arca as of December 31, 2012. There were 402
corporate structured products listed on the NYSE as of December 31,
2012.
Figures for new issuer listings include NYSE new listings
(including new operating companies, special-purpose acquisition
companies and closed-end funds listing on NYSE) and new ETP
listings on NYSE Arca (NYSE MKT is excluded). Figures for Euronext
present the operating companies were listed on Euronext and do not
include NYSE Alternext, Free Market, closed-end funds, ETFs and
structured product (warrants and certificates). As of December 31,
2012, 180 companies were listed on NYSE Alternext, 262 on Free
Market and 676 ETPs were listed on NextTrack.
|
|
2
|
|
Euronext figures show capital raised in millions of dollars by
operating companies listed on Euronext, NYSE Alternext and Free
Market and do not include closed-end funds, ETFs and structured
products (warrants and certificates). NYSE figures show capital
raised in millions of dollars by operating companies listed on NYSE
and NYSE Arca and do not include closed-end funds, ETFs and
structured products.
|
|
3
|
|
Euronext figures include operating companies listed on Euronext,
NYSE Alternext and Free Market and do not include closed-end funds,
ETFs and structured products (warrants and certificates).
|
|
4
|
|
"Tape A" represents NYSE listed securities, "Tape B" represents NYSE
Arca and NYSE MKT listed securities, and "Tape C" represents Nasdaq
listed securities. Per Regulation NMS, as of April 1, 2007, share of
revenues is derived through a formula based on 25% share of trading,
25% share of value traded, and 50% share of quoting, as reported to
the consolidated tape. Prior to April 1, 2007, share of revenues for
Tape A and B was derived based on number of trades reported to the
consolidated tape, and share of revenue for Tape C was derived based
on an average of share of trades and share of volume reported to the
consolidated tape. The consolidated tape refers to the collection
and dissemination of market data that multiple markets make
available on a consolidated basis. Share figures exclude
transactions reported to the FINRA/NYSE Trade Reporting Facility.
|
|
5
|
|
Headcount for full year 2012 includes 99 employees in connection
with the recent acquisition of Corpedia.
|
|
|
|
Source: NYSE Euronext, Options Clearing Corporation and Consolidated
Tape as reported for equity securities.
|
Source: NYSE Euronext
NYSE Euronext
Media:
Amsterdam, +31.20.550.4488
Lisbon,
+351.217.900.029
New York, +1.212.656.2411
Brussels,
+32.2.509.1392
London, +44.20.7379.2789
Paris,
+33.1.49.27.11.33
or
Investor Relations:
New York,
+1.212.656.5700