NYSE Euronext (NYX) reported record transaction volumes in U.S. and European trading operations for 2007 with impressive gains in overall volume in all categories in December and full-year 2007.
Euronext's cash markets registered their third consecutive record year, with 323 million transactions1, up 47% on 2006. With a record average daily volume (ADV) of 2.6 billion shares handled2 on NYSE Group exchanges in 2007, NYSE Euronext's U.S. cash equities exchanges reported an overall volume increase of 16% for the full year 2007. Liffe traded a record 949 million futures and options contracts in 2007, up 30% on 2006. Total volume for equity options trading on NYSE Arca Options reached record levels trading 336 million contracts in 2007, an increase of 71% compared to 2006.
"As the world leader in trading a range of investment products, NYSE Euronext's volume growth in Europe and the U.S. clearly demonstrates our strong value proposition to investors and issuers," said NYSE Euronext CEO, Duncan Niederauer. "In 2008, we will continue to innovate and lead the global marketplace as we further integrate our business and introduce new products and services to better serve our customers."
On April 4, 2007, NYSE Group, Inc. and Euronext N.V. merged to create NYSE Euronext, the world's first truly global marketplace. Operating six cash equities and six derivatives exchanges, NYX is the world's leading and most diversified global exchange group.Cash Products
EuronextNYSE Euronext's European cash markets registered their third consecutive record year, with 323 million transactions completed in 2007, up 47% on 2006, representing a record average daily volume of 1.2 million transactions.In 2007, Euronext remained the leading European exchange by number and value of transactions in equities traded on an electronic order book.A record total 309 million equity transactions were completed on Euronext in 2007, up 47.6% versus 2006, representing a turnover of $4,960/€3,428 billion, up 40.2% year-on-year.22.7 million cash transactions and 21.9 million equity transactions were completed on Euronext in December 2007, up 30.4% and 30.7% from the same month in 2006.In 2007, transactions on Euronext were up 126.2% for ETFs and up 34.1% for structured products, including warrants and certificates.
NYSE GroupNYSE Euronext's U.S. cash equities exchanges, NYSE and NYSE Arca, reported 2.6 billion shares handled per day in December, up 12.7% year-over-year. Total volume in 2007 was up 15.7% compared to 2006.NYSE Euronext's U.S. equities operations reported 2.0 billion shares handled per day in NYSE-listed securities for December, up 14.2% from the same month in 2006. Total volume handled in 2007 was up 19.2% year-over-year, making 2007 volume a new record for NYSE-listed issues with 559 billion shares traded.NYSE Group's operations in ETF trading reported 268 million shares handled daily in December 2007, up 70.6% from the same period in 2006 with total handled volume in 2007 up 64.8%. In December, NYSE Group successfully completed the transfer of all NYSE listed ETF and ETN products to NYSE Arca. As the first electronic stock exchange to offer investors the benefits and stability of a dedicated liquidity provider in the form of a Lead Market Maker for each primary listed ETF, NYSE Arca sets the National Best Bid and Offer (NBBO) 85% of the time.NYSE Euronext's U.S. equities exchanges, the NYSE and NYSE Arca, experienced record volumes in 2007 with more shares traded than any other exchange, registering seven of the top 10 new daily volume records, including the highest ever of 5.8 billion shares traded on Aug. 16, and the highest volume month, quarter and year in history.
Liffe, NYSE Euronext's leading futures and options business, traded a record 949 million futures and options contracts in 2007, up 29.9% on 2006. Equity products grew by 35.9%, Interest Rate products by 25.6%, and Commodity products by 29.8%.Liffe's pioneering wholesale service Bclear processed more contracts in December than in any previous month. In the full year Bclear processed a record 123 million equity derivatives contracts, up 132.5% on 2006. Universal Stock Futures (USFs) traded a record 75 million contracts, up 155% on 2006. This ensured that Liffe ended 2007 as Europe's leading exchange for Single Stock Futures, trading more, and offering a wider range, than any other European exchange.Total Interest Rate products traded a record 518 million contracts during the year, up 25.6% on 2006. Within the product set, options performed most strongly, and finished the year up 46% on 2006.Commodity products saw their busiest year ever, trading 12.8 million contracts. The strongest performers were Robusta Coffee futures (up 25% on 2006), White Sugar futures (up 25%) and Cocoa (up 7%).During December 2007 Liffe traded 67.1 million futures and options contracts, up 29.6% on the same month in 2006.
NYSE Arca Options
NYSE Arca reported 1.8 million equity options contracts executed daily on average in December, up 56.9% from the same month in 2006.In 2007, NYSE Arca Options traded 1.3 million contracts daily, a 70.7% increase from 2006.With 35.6 million total contracts traded in December, a 56.9% increase from the same period in 2006, NYSE Arca Options also achieved a new record in overall share of trading, capturing 16.3% of all equity options contracts traded.
In December, 16.8 million contracts were traded on NYSE Arca Options in the recently-expanded SEC options penny pilot, with 11.6 million, or 69% traded electronically. Share of trading in the 35 penny pilot issues also set a record in December at 18.1% of industry volumes, ranking NYSE Arca third among all U.S. options exchanges for the month.
In 2007, NYSE Euronext's U.S. and European equities markets attracted more initial public offering (IPO) proceeds than any other exchange group in the world.IPOs on NYSE Euronext markets raised a total of $78/€54 billion in proceeds, including closed-end funds. Excluding closed-end funds, IPOs on NYSE Euronext markets raised a total of $48/€33 billion, also more than any other exchange.In 2007, NYSE Euronext added a total of 429 new listings, including 140 on NYSE Euronext's European markets. Among the world's largest IPOs to have listed on NYSE Euronext markets in 2007 were Blackstone Group (NYSE: BX - News), MF Global Ltd. (NYSE: MF - News), Sterlite Industries (India) Ltd. (NYSE: SLT - News), and Nyrstar (Euronext Brussels).
140 companies made their market debut on NYSE Euronext's European markets in 2007, with $14.0/€9.7 billion raised in connection with new listings and $304.8/€210.7 billion of additional market capitalization.Listings on NYSE Euronext's Alternext market surpassed the 100 company mark in 2007, confirming the market's role as a destination for small and mid-size companies. In total, 119 companies are listed on Alternext, and these companies have raised a total of $2.3/€1.6 billion (including funds raised on the secondary market) and their total market capitalization is $7.7/€5.3 billion.15 IPOs were added on Euronext's markets in December 2007, including 7 on Alternext.NextTrack, the Euronext market segment dedicated to ETFs, exceeded the 200 fund mark this year. Today, 228 ETFs are listed on Euronext, representing 185 indices. This segment has seen exceptional growth since the beginning of the year with a doubling of its business activity and nearly $506/€350 million handled daily on these products.
In 2007, NYSE Euronext's U.S. exchanges added 289 new listings, with IPOs by operating companies raising a total of $61.4/€42.4 billion in connection with listing, including funds, non-US companies, and NYSE Arca.
44 IPOs by U.S. domestic operating companies on NYSE Group markets raised a total of $19.9/€13.8 billion in proceeds (excluding funds). The 33 IPOs by non-U.S. companies raised a total of $13.6/€9.4 billion on NYSE Group markets.
The NYSE had a strong year attracting technology sector IPOs, which raised a total of $5.4 billion on NYSE Group markets, more than technology sector IPO proceeds on Nasdaq. Listings and IPO activity by non-US companies was its strongest since 2002, with 42 new listings, including 20 from China.
Including 10 transfers from Nasdaq, 30 total transfers joined NYSE Group from other markets in 2007.NYSE Arca, NYSE Euronext's fully electronic market for emerging issuers, attracted a total of 128 exclusive listings in 2007, including Exchange Traded Funds and Exchange Traded Notes.NYSE Euronext's U.S. ETF trading operations continue to be the leader in exchange traded funds with a record 100 IPOs in 2007 and 56% of the total assets under management listed on the exchange.
Based on third-quarter 2007 non-GAAP net revenues (excluding activity assessment fees, and liquidity payments, routing and clearing fees) NYSE Euronext revenues from its primary business activities are represented below as a percentage of total net revenues:
- Derivatives trading accounts for 25%
- European cash trading accounts for 18%
- U.S. cash trading accounts for 12%
- Market data accounts for 13%
- Listing accounts for 12%
On Dec. 31, 2007: €1 = $1.4468
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