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European derivatives daily trading volume drops 17.4 per cent in June

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The average daily trading volume of NYSE Euronext European derivatives products in June 2009 was 4.6 million contracts, up 2.5 per cent from June 2008 but down 17.4 per cent from the re

The average daily trading volume of NYSE Euronext European derivatives products in June 2009 was 4.6 million contracts, up 2.5 per cent from June 2008 but down 17.4 per cent 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 the 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.

Total interest rate products ADV increased 3.7 per cent to 2.4 million contracts from 2.3 million contracts in June 2008 and increased 11.1 per cent from May 2009. Total interest rate products ADV increased for the third consecutive month and is at its highest level since April 2008. Year-to-date, total interest rate products ADV decreased 17.6 per cent compared to the prior year period.

Total equity products (including Bclear) ADV increased 1.4 per cent to 2.2 million contracts from June 2008, but decreased 36.2 per cent compared to May 2009. Total equity products ADV in June executed through the Connect trading platform was 1.0 million contracts, in-line with June 2008 and May 2009. Year-to-date total equity products ADV increased 15.0 per cent above the prior year period.

The 36.2 per cent decrease in total equity products ADV compared to May 2009 was driven in large part by a 46.3 per cent 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.

NYSE Euronext’s US equity options ADV in June 2009 increased 66.4 per cent to 2.8 million contracts compared to June 2008, and increased 8.9 per cent 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.

Total US consolidated options ADV increased 0.8 per cent to 13.4 million contracts in June 2009, but decreased 9.2 per cent from May 2009. Year-to-date, US equity options volume of 2.4 million contracts was 41.4 per cent above the prior year period.

NYSE Euronext’s US options exchanges accounted for 20.5 per cent of the total consolidated equity options trading in June 2009, up from 12.4 per cent in June 2008, and up from the 17.1 per cent recorded in May 2009.

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