Euronext: May Trading Volumes Continue Decline, Listings Increase

Euronext extends a four month decline but welcomes new listings amid improving market conditions.

Euronext, Europe’s largest exchange, has released its trading volumes for May 2016, continuing where it left off last month and reflecting once again a sizable decline across its cash order book, according to a statement issued today.

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Declines across the board

May 2016 average daily cash orders fell for a fourth consecutive month to €5,932 million ($6,616 million), reflecting a decrease of 14.6% MoM, compared with €6,948 million ($7,979 million) in April. This is a trend that still continues to permeate across many other institutional venues in what has been a relatively weak H1 2016 in terms of volumes.

The activity on ETFs once again softened during May 2016 with an average daily transaction value at €447 million ($499 million) compared with €548.0 million ($629.02 million) in April, representing a 18.4% decrease MoM and down 18.6% YoY.

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In terms of average daily volume on equity index derivatives, the figure was down during May 2016 at 195,333 contracts from 201,665 in April, representing a 3.1% decrease MoM, and down 15.7% YoY. The average daily volume on individual equity derivatives fell with 187,298 contracts compared to 218,557 in April, representing a 14 % decrease MoM and down 12.4% YoY.

The average daily volume on commodities derivatives decreased to 38,906 from 67,579 in April, representing a decrease of 42% MoM and down 17.2% YoY.

On a brighter note, May 2016, Euronext saw market conditions improving for listings with seven new companies joining Euronext markets, including Philips Lighting, the largest IPO in Europe year-to-date, and five EnterNext SMEs, which raised €1,228 million ($1,369 million).

Euronext also welcomed the listing of Coca Cola European Partners with a €16 billion ($17.8 billion) market capitalisation at listing. A further €10.9 billion ($12.1 billion) was raised on Euronext in corporate bonds and €5.7 billion ($6.4 billion) in follow-on equity.

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