* NYSE, NYSE Arca and NYSE Amex (“NYSE Group”) U.S. cash products handled ADV in June 2009 increased 0.6%, compared to June 2008. NYSE Group matched share of all U.S. equity trading volume in June 2009 was 29.7%, compared to market share of 20.8% for our next largest competitor.
* NYSE Euronext is the largest exchange operator in the two fastest growing tapes in the U.S. equity markets. Total Tape A consolidated ADV and Tape B consolidated ADV in June 2009 increased a combined 23.6%, compared to June 2008. Tape A and Tape B trading volume in June accounted for approximately 75% of all Consolidated Tape trading in the U.S. market which includes trade reporting facility (“TRF”) volumes.
* NYSE Euronext European cash products ADV of 1.3 million transactions in June 2009 decreased 9.4%, compared to June 2008. For the second quarter 2009, ADV of 1.5 million transactions was 6.1% above the second quarter 2008 and 5.8% above the first quarter 2009. European cash products ADV year-to-date of 1.4 million transactions was 6.6% below the same period last year.
* NYSE Euronext European derivatives products ADV in June 2009 was 4.6 million contracts, up 2.5% from June 2008 driven by a 15.5% increase in Bclear OTC volumes. Total interest rate products ADV was 2.4 million contracts, up 3.7% compared to June 2008 and at their highest levels since April 2008.
* NYSE Euronext U.S. equity options ADV of 2.8 million contracts in June 2009 represented an increase of 66.4%, compared to June 2008 levels. The increase in ADV was driven mostly by the addition of the former Amex options business and stronger options market volumes.
Cash Trading
U.S. Cash
NYSE Group U.S. cash products handled ADV in June 2009 increased 0.6% to 3.2 billion shares, compared to June 2008, but decreased 16.0% from May 2009. In the second quarter 2009, ADV of 3.6 billion was 24.9% above the second quarter 2008, but 9.5% below the first quarter 2009. Year-to-date, NYSE Group handled ADV of 3.8 billion shares was 19.4% above the same period last year. NYSE Group matched share of all U.S. equity volume in June 2009 was 29.7%, compared to 20.8% for our next largest competitor.
NYSE-listed (Tape A)
* Total Tape A consolidated ADV in June 2009 increased 12.8% to 5.3 billion shares compared to 4.7 billion shares in June 2008, but declined 18.5% compared to May 2009. In the second quarter 2009, Tape A consolidated ADV of 6.1 billion shares was 46.0% above the second quarter 2008. Year-to-date, total Tape A consolidated ADV of 6.2 billion shares was 42.8% above the prior year period.
* Tape A matched ADV of NYSE Group in June 2009 decreased 1.5% to 2.1 billion shares compared to June 2008. In the second quarter 2009, Tape A matched ADV of 2.4 billion shares was 22.8% above the second quarter 2008, but 9.5% below first quarter 2009 levels. Year-to-date, NYSE Group matched ADV in Tape A increased 16.6% compared to the prior year period.
* NYSE Group’s Tape A matched market share in June 2009 was 39.9% up from 38.9% in May 2009, compared to market share of 15.3% for our next largest competitor. TRF market share across Tape A increased in June 2009 to 32.3% from 25.0% in December 2008.
* Designated Market Maker (“DMM”) participation in June 2009 was 9.1%, compared to 10.1% in May 2009. Supplemental Liquidity Provider (“SLP”) participation in June 2009 was 7.5%, up from a revised 6.9% in May 2009. DMM and SLP participation pertain only to trading on NYSE.
NYSE Arca and NYSE Amex-listed (Tape B)
* Total Tape B consolidated ADV in June 2009 increased 65.7% to 2.0 billion shares compared to 1.2 billion shares in June 2008, but decreased 17.0% compared to May 2009. In the second quarter 2009, Tape B consolidated ADV of 2.3 billion shares was 128.1% above second quarter 2008, but 4.7% below the first quarter 2009. Year-to-date, total Tape B consolidated ADV of 2.3 billion shares was 114.0% above the prior year period.
* NYSE Group’s matched ADV of Tape B in June 2009 increased 48.2% to 479 million shares compared to June 2008, but declined 13.2% compared to May 2009. In the second quarter 2009, Tape B matched ADV of 531 million shares increased 95.3% compared to second quarter 2008, but decreased 11.9% from the first quarter of 2009. Year-to-date, NYSE Group Tape B matched ADV was 80.8% above the prior year period.
* Tape B matched market share of NYSE Group in June 2009 was 23.9%, compared to market share of 21.2% for our next largest competitor. TRF market share across Tape B increased in June 2009 to 36.4% from 21.5% in December 2008.
Nasdaq-listed (Tape C)
* Total Tape C consolidated ADV in June 2009 increased 9.3% to 2.5 billion shares, compared to 2.3 billion shares in June 2008. Tape C consolidated volumes represented approximately 25% of all Consolidated Tape trading in the U.S. in June 2009. In the second quarter 2009, Tape C consolidated ADV of 2.4 billion shares increased 14.8% compared to second quarter 2008. Year-to-date, total Tape C consolidated ADV was 2.4% above the prior year period.
* NYSE Group’s matched ADV of Tape C decreased 15.7% to 306 million shares in June 2009 compared to 363 million shares in June 2008. In the second quarter 2009, matched ADV in Tape C decreased 8.1% compared to second quarter 2008. Year-to-date, NYSE Group’s Tape C matched ADV decreased 10.6% to 336 million shares.
* NYSE Group’s Tape C matched market share was 12.4%, compared to 32.4% for our nearest competitor. TRF market share across Tape C increased in June 2009 to 39.9% from 29.9% in December 2008.
Exchange Traded Funds
* NYSE Group matched exchange-traded funds ADV (included in volumes from Tape B and Tape C noted above) increased 30.8% to 456 million shares in June 2009. In the second quarter 2009, matched exchange-traded funds ADV increased 80.5%, compared to the second quarter 2008, but decreased 14.3% compared to the first quarter of 2009. Year-to-date, matched exchange-traded funds ADV was 68.2% above the prior year period.
European Cash
NYSE Euronext European cash products ADV of 1.3 million transactions in June 2009 decreased 9.4%, compared to June 2008 and decreased 10.5% compared to May 2009. For the second quarter 2009, ADV of 1.5 million transactions was 6.1% above the second quarter 2008 and 5.8% above the first quarter 2009. European cash products ADV year-to-date of 1.4 million transactions was 6.6% below the same period last year. As previously announced, on April 1, 2009 NYSE Euronext introduced an integrated transaction fee structure across its pan-European cash equity markets which is based on a fee per executed order instead of a fee per trade. As expected, the net capture rate for European cash declined in-line with expectations when the new pricing structure was announced.
Derivatives Trading
European Derivatives
NYSE Euronext European derivatives products ADV in June 2009 was 4.6 million futures and options contracts, an increase of 2.5% from June 2008, but down 17.4% from the record 5.6 million contracts recorded in May 2009. The 4.6 million in futures and options contracts ADV in June 2009 consisted of 3.4 million contracts executed through our full-service CONNECT trading platform and a total of 1.2 million contracts executed through Bclear, NYSE Liffe's trade administration and clearing service for OTC products. For the second quarter 2009, European derivatives products ADV was 4.9 million contracts, 10.2% above the 4.4 million contracts recorded in the second quarter 2008. Year-to-date European derivatives products ADV of 4.3 million contracts was 3.6% below prior year levels.
* Total interest rate products ADV increased 3.7% to 2.4 million contracts from 2.3 million contracts in June 2008 and increased 11.1% from May 2009. Total interest rate products ADV increased for the third consecutive month and is at its highest level since April 2008. For the second quarter 2009, interest rate products ADV of 2.2 million contracts is down 5.0% compared to the 2.3 million contracts in the second quarter 2008, but increased 8.8% from first quarter 2009. Year-to-date, total interest rate products ADV decreased 17.6% compared to the prior year period.
* Total equity products (including Bclear) ADV increased 1.4% to 2.2 million contracts from June 2008, but decreased 36.2% compared to May 2009. Total equity products ADV in June executed through our full-service CONNECT trading platform was 1.0 million contracts, in-line with June 2008 and May 2009. In the second quarter 2009, total equity products ADV of 2.7 million contracts was 26.7% above the second quarter 2008. Year-to-date total equity products ADV increased 15.0% above the prior year period.
* The 36.2% decrease in total equity products ADV compared to May 2009 was driven in large part by a 46.3% decrease in individual equity products, principally through Bclear. The decrease in individual equity products ADV through Bclear was driven by a drop off in single-stock futures trading in June.
U.S. Derivatives
NYSE Euronext’s U.S. equity options (NYSE Arca and NYSE Amex) ADV in June 2009 increased 66.4% to 2.8 million contracts compared to June 2008, and increased 8.9% compared to May 2009. June 2009 ADV reflected seasonally higher levels of institutional flow, driven in part by the benefit of new technology from the rollout of the new trading floor, that resulted in an increase in market share. This business is traditionally lower margin. Total U.S. consolidated options ADV increased 0.8% to 13.4 million contracts in June 2009, but decreased 9.2% from May 2009. Year-to-date, U.S. equity options volume of 2.4 million contracts was 41.4% above the prior year period. NYSE Euronext’s U.S. options exchanges accounted for 20.5% of the total consolidated equity options trading in June 2009, up from 12.4% in June 2008, and up from the 17.1% recorded in May 2009.
Other Metrics
The average EUR/USD exchange rate for the second quarter of 2009 of $1.36 represented an increase of 4.4% from the first quarter of 2009, but a decrease of 12.8% compared to the second quarter of 2008. Year-to-date, the average EUR/USD exchange rate is running 12.8% below the same period last year. The average GBP/USD exchange rate for the second quarter of 2009 of $1.55 represented an increase of 8.0% from the first quarter of 2009, but a decrease of 21.4% compared to the second quarter of 2008. Year-to-date, the average GBP/USD exchange rate is running 24.4% below the same period last year.
