-- Adds New Key Asset Class and Furthers Strategic Partnership in Asia --
TOKYO STOCK EXCHANGE SELECTS NYSE TECHNOLOGIES TO BUILD FUTURES PLATFORM
NEW YORK, September 16, 2010 – NYSE Technologies, the commercial technology division of NYSE Euronext (NYX), today announced that it has been selected by the Tokyo Stock Exchange Inc. (TSE) to build and support a new futures trading platform for the exchange. Based on the successful Tdex+ platform already trading options on the TSE since October 2009, this futures trading engine will offer best-in-class latency.
Atsushi Saito, President and CEO of the Tokyo Stock Exchange Group said, "The Japanese futures trading market contains significant growth potential. We believe promoting this market will bring forth a great investment opportunity for not only the Japanese investor, but investors worldwide. We have chosen NYSE Euronext as a valued partner in developing this market as its technical and operational expertise in financial markets in Europe and the U.S. is of indispensable value to us.”
“This agreement builds on our partnership with the TSE, and we are very proud to be playing a role in this important initiative,” said Dominique Cerutti, President & Deputy Chief Executive of NYSE Euronext. “Together, we will provide a superior platform that serves the interests of customers, addresses the increasing demands for speed and capacity, and ensures that TSE is at the cutting edge of innovation.”
As part of an ongoing relationship between TSE and NYSE Technologies, the TSE, which has already launched the Tdex+ platform for options trading, will begin migrating futures products to this low latency and high-performance platform Fall 2011. NYSE Technologies is building this new Tdex+ based futures system utilizing its LIFFE CONNECT platform with several customized features. This new platform will provide the Asian futures market with lower latency, improved liquidity via the introduction of market making facilities, the introduction of Inter Commodity Spreads and Closed Auction facilities.
About Tokyo Stock Exchange, Inc.
Tokyo Stock Exchange, Inc. is the premier exchange for Japanese cash equities and derivative products from the perspective of investors both in Japan and abroad. In 2008, TSE recorded an average daily trading volume of 2,266 million shares, and daily average trading value of JPY 2,352 billion. This has positioned TSE as the central market of Japan. In addition to its core Japanese equity market, TSE provides markets for derivatives products such as long-term Japanese Government Bond (JGB) futures and TOPIX index futures. JGB futures trading, the cornerstone of TSE's fixed income derivatives market and the benchmark of the Japanese bond market, continues to thrive on investor demand from across the globe. The JGB futures contract is one of the most active long-term interest rate futures contracts in the world, with its annual trading volume in 2008 reaching 10,639 thousand contracts. The TOPIX futures contract, with its underlying index used as Japanese economic benchmark throughout the world, is the leading stock index futures product in Japan, with the largest open interests among Japanese stock index futures products. The annual trading volume of TOPIX Futures in 2008 reached to 18,375 thousand contracts.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2009 ("document de référence") filed with the French Autorité des Marchés Financiers (Filed on April 22, 2010 under No. D.10-0304), 2009 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
Contact: Kazuhiko Yoshimatsu - Tokyo Stock Exchange
Contact: Eric Ryan - NYSE Euronext