NYSE Euronext Announces Trading Volumes for March 2012 and Other Metrics

New York - 12 April 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

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

3Q114Q111Q12
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.

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