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Euronext Average Trade Volumes in October Decline YoY

Europe’s largest exchange sees robust performance of ETFs, five new IPOs

Euronext has reported its average daily trading volumes for October, revealing an overall decline on an annual basis. The steepest drop from October 2014 was registered in the number of equity index derivative trades, which were down 39 percent on the year, the exchange said in a statement.

Last Year’s Results Pushed up by Higher Volatility

The average daily volume (ADV) in equity index derivatives stood at 201,379 contracts, and the ADV for individual equity derivatives was 233,314 contracts, down 20 percent from October 2014. The exchange noted that October 2014’s overall trading volumes were boosted by the increased market volatility at the time.

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The average daily transaction value of cash trades on Euronext totaled €7.735 billion ($8.45 bln) in October 2015, down 4.8 percent on the year, from €8.124 billion. The total size of the cash market for the month was €170.176 billion, down 8.9 percent on the year.

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October figures are also lower than September ones

The average daily number of cash market contracts for October 2015 came in at 1,889,271, and the total for the month was 41.563 million contracts. The ADV figure represented a 1.6 percent annual decline, and the monthly overall was down 5.9 percent from October 2014.

In the initial public offerings department, Euronext reported five new ones, together raising €719 million. Bond issues during the month totaled €2.8 billion, and follow-on equity issues came in at an identical amount, €2.8 billion.

The September average daily cash trade amount was $9.025 million, a 35 percent rise on the year, but a decline from August. ETF trades in September marked a whopping 105 percent annual increase to $686.6 million, a strong performance that continued through October, during which ETF trades were up 16 percent on the year. A more modest increase at €652 million, but still an increase, against the background of declines in other trading metrics.

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