Euronext: May Trading Volumes Continue Decline, Listings Increase

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.

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.