Euronext’s Volume Losses Mount as March Order Book Dwindles

Euronext's cash order book took a tumble during March, followed by commodities and ETF volumes.

Euronext, Europe’s largest exchange, has reported its trading volumes for the month ending March 2016, continuing a monthly downtrend in its cash order book in what looked to be a month to forget.

During March 2016, Euronext’s average daily cash orders fell for a second consecutive month to $8,670 million (€7,633 million), having moved lower by-11.1 MoM from $9,756 million (€8,588 million) in February 2016. The latest order book figures at Euronext now have firmly resumed what had been a lackluster Q4 in terms of volumes for the exchange. Across a yearly timetable, March 2016’s volumes were even weaker, registering a larger loss of –16.3% YoY from March 2015.

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Another area that did poorly at Euronext was its exchange-traded-funds (ETFs) during March 2016 – after a lackluster month prior, ETFs could not secure any level of growth, falling to $700.9 million (€617.0 million) for the month, justifying a MoM decline of -8.8% from $768.9 million (€677 million) in February 2016. However, compared to last year, Euronext’s ETFs scored a small growth of 1.2% YoY from March 2015.

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Moving to Euronext’s average daily volume (ADV) across its equity index derivatives, March 2016 saw a rise to 253,399 contracts, or 1.5% growth MoM from 249,644 contracts in February 2016 – this did also reflect a move of 3.2% YoY from March 2015 however.

Finally, in March 2016, the group’s ADV across commodities derivatives were also pointed lower, as highlighted by a figure of 60,988 contracts, down -11.2% MoM from just 68,655 contracts in February 2016.

Euronext recently made headlines after its Lisbon group appointed a new Chief Executive Officer (CEO), adding Maria João Borges Carioca Rodrigues as the head of the group’s Lisbon operations, who is slated to join the exchange in Q2 2016.

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