Market Currents

• Wednesday, December 9, 2009

• 14:28 PM Raymond James upgrades NYSE Euronext (NYX +2.5%) to outperform, on an attractive price point. "Market-share gains in its U.S. options businesses, as well as rebounding futures volumes, should improve the earnings picture." Comment!

• Tuesday, December 1, 2009

• 08:55 AM CBOE says it will demutualise "within days or weeks" after settling a long-running legal battle with members of the CBOT. The settlement moves the company closer to an IPO or selling itself to a larger exchange operator, possibly CME Group (CME) or NYSE Euronext (NYX). Comment!

• Thursday, November 19, 2009

• 14:30 PM Five exchange companies - including NYSE Euronext (NYX), LCH.Clearnet and Bats Global Markets - ask Congress to drop a proposal to ban companies with 20% bank ownership from clearing and trading in the private derivatives market. Profits are at stake: The companies (all of which fit that ownership-limit description) say they won't be able to compete. 1 Comment

• Friday, October 30, 2009

• 12:43 PM NYSE Euronext (NYX) says the delayed-quote problem on NYSE and Amex has been resolved, and trades were unaffected. Comment!
• 04:11 AM NYSE Euronext (NYX): Q3 EPS of $0.53 beats by $0.07. Revenue of $1.05B (-9.6%) in-line. Announces equity investment in its U.S. futures exchange by Citadel, GETCO, Goldman Sachs (GS), Morgan Stanley (MS) and UBS (UBS), with NYX to remain largest shareholder. (PR I, II) 1 Comment
• 00:05 AM Notable pre-market earnings: ACI, AEE, AIV, ALU, AOC, AXL, CEG, CMC, CMI, CMS, CVH, CVX, D, DUK, EL, ITT, NI, NYX, PAG, PGN, REG, SHPGY, SNE, SPG, THI, UPL, WY, YRCW Comment!

• Friday, September 25, 2009

• 15:03 PM German insurer Allianz's delisting from NYSE (NYX) and China's Shanda Games spinoff onto Nasdaq (NDAQ) both point at the future of the worldwide listings market - where mature markets in Europe and the U.S. compete for emerging-market companies. Comment!

• Wednesday, September 9, 2009

• 07:25 AM NYSE Euronext (NYX) is selling a major stake in options exchange NYSE Amex to seven brokerages, including BoA (BAC), UBS (UBS) and Goldman (GS). NYSE Amex has lost market share for eight years in a row, dropping to 5.8% from 28.6%. (PR) Comment!

• Thursday, August 27, 2009

• 09:04 AM NYSE Euronext (NYX) to buy its subsidiary NYFIX (NYFX) for $144M, or $1.675/share - a 95% premium. (PR) Shares of NYFX +90% premarket to $1.63. Comment!

• Monday, August 24, 2009

• 11:57 AM Fox-Pitt Kelton, on why NYSE Euronext (NYX) should scoop up Dow Jones' indexes: "NYX 1) would benefit from having its name associated with an index mentioned in virtually every news broadcast throughout much of the world, and 2) could tell large listing prospects that an NYX listing comes with inclusion in a major index, raising awareness of a stock and compelling passive investors to own it." 2 Comments

• Wednesday, August 5, 2009

• 10:40 AM The SEC's recent about-face on flash trading may help NYSE Euronext (NYX), the only big exchange not using flash orders, take back the market share it's been shedding to three-year-old rival Direct Edge. Comment!

• Thursday, July 30, 2009

• 03:03 AM NYSE Euronext (NYX): Q2 EPS of $0.51 beats by $0.06. Revenue of $1.1B (+9.5%) in-line. (PR) Comment!
• 00:05 AM Notable earnings before Thursday's open: ABC, ABX, ADP, ALU, AOC, APA, ARTG, AVP, AVY, AZN, BC, BCRX, BDX, BEN, CI, CINF, CL, CLI, CMI, CMS, CNX, COL, COV, CVC, DLR, DOW, EK, ENDP, EXPE, FAF, GT, GTI, HP, INCY, IP, IRM, K, KBR, KIM, KSU, LVLT, MA, MOT, MYL, NBL, NRG, NWL, NYX, OCR, OMX, OSK, PCZ, PH, PTEN, RDS.A, RGC, RYN, SBH, SNE, SPR, TEN, TRV, TSM, TYC, VTR, WMI, WYNN, XEL, XOM Comment!

• Thursday, July 2, 2009

• 08:12 AM Trying to win back market share from faster competitors, NYSE Euronext (NYX) cuts order-execution times 20-fold, down to a zippy 5 milliseconds. Comment!

• Wednesday, June 24, 2009

• 08:21 AM NYSE Euronext (NYX) is losing marketshare, and rival Nasdaq OMX (NDAQ) isn't picking up the slack. On the flip side, Direct Edge Holdings LLC and Bats Exchange Inc. more than doubled their combined share of trades since August to 22.8%. Comment!

• Thursday, June 18, 2009

• 07:23 AM NYSE Euronext (NYX) signs a deal with Depository Trust & Clearing Corp. to establish a clearinghouse for U.S. fixed-income derivatives. The 50-50 venture will be called New York Portfolio Clearing. Comment!