NYSE Euronext - FORM 8-K - EX-99.1

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Exhibit 99.1

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NYSE Euronext Announces Second Quarter 2013 Financial Results

— Second Quarter GAAP Diluted EPS of $0.71 vs. $0.49 in Prior Year —

— Non-GAAP Diluted EPS of $0.63, Up 24% Excluding Merger Expenses, Exit Costs and Discrete Items —

— Global Leader in IPOs Year-to-Date; Share of Tech IPOs at 64% —

— Cumulative $161 Million in Project 14 Cost Savings Achieved; 64% of $250 Million Project 14 Goal —

— Significant Progress Made on the Proposed ICE Transaction —

— Clearing for London-Based Derivatives Market Transitioned to ICE Clear Europe —

Financial and Operating Highlights^{1, 2}

•

Diluted non-GAAP EPS of $0.63, up 24% compared to 2Q12; Up 11% from 1Q13

•

Net revenue of $611 million up 1% compared to 2Q12; Up 2% from 1Q13

•

Fixed operating expenses of $382 million, down 5% on constant dollar / portfolio basis vs. 2Q12

•

Operating income of $229 million, up 11% compared to 2Q12; Up 4% from 1Q13

•

Debt-to-EBITDA ratio 1.9 times, down from 2.5 times at end of 2012

•

Board declares third quarter 2013 cash dividend of $0.30 per share provided that the ICE transaction has not been completed as of the September 16^th record date.

¹	All comparisons versus 2Q12 unless otherwise stated. Excludes merger expenses, exit costs, charge for fair value adjustment to RSU awards, disposal activities and discrete tax items.

²	A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See also our statement on non-GAAP financial measures at the end of this earnings release.

NEW YORK – July 30, 2013 – NYSE Euronext (NYX) today reported net income of $173 million, or $0.71 per diluted share on a GAAP basis, for the second quarter of 2013, compared to net income of $125 million, or $0.49 per diluted share, for the second quarter of 2012. Results for the second quarter of 2013 and 2012 included $22 million and $12 million, respectively, of pre-tax merger expenses and exit costs. Second quarter 2013 results also included a $10 million gain recorded for non-operating items due to the sale of a portion of our equity stake in LCH.Clearnet and a reserve release related to a favorable settlement with certain European tax authorities which significantly reduced our GAAP effective tax rate. Excluding merger expenses, exit costs, disposal activity and discrete tax items, net income in the second quarter of 2013 was $153 million, or $0.63 per diluted share on a non-GAAP basis, compared to $128 million, or $0.51 per diluted share, in the second quarter of 2012.

“We continue to execute solidly against our business plan as we build momentum toward closing the ICE deal,” said Duncan L. Niederauer, CEO, NYSE Euronext. “We successfully transitioned our London-based derivatives market to ICE Clear Europe and were ranked number one year-to-date in capital raising with our market share in technology listings increasing to 64%. The strength of our listings franchise continues to build and we are very pleased to welcome Oracle to the NYSE today to close the market. We were also appointed the administrator for LIBOR. Turning to our transaction with ICE, we are gratified that our shareholders and the European Commission have approved the transaction and we are working with the College of Regulators in Europe and other regulators to obtain all the appropriate remaining approvals.”

The table below summarizes the financial results¹for the second quarter of 2013:


										% D 2Q13			Year- to-Date						% D YTD ‘13
($ in millions, except EPS)	2Q13			1Q13			2Q12			vs . 2Q12			2013			2012			vs . YTD ‘12
Total Revenues²	$	995		$	963		$	986			1	%	$	1,958		$	1,938			1	%

Total Revenues, Less Transaction-Based Expenses³		611			600			602			1	%		1,211			1,203			1	%
Other Operating Expenses ⁴		382			380			396			(4	%)		762			801			(5	%)

Operating Income ⁴	$	229		$	220		$	206			11	%	$	449		$	402			12	%
Net Income⁵	$	153		$	139		$	128			20	%	$	292		$	249			17	%
Diluted Earnings Per Share⁵	$	0.63		$	0.57		$	0.51			24	%	$	1.19		$	0.97			22	%
Operating Margin		37	%		37	%		34	%		3 ppts			37	%		33	%		4 ppts
Adjusted EBITDA Margin		48	%		47	%		45	%		3 ppts			47	%		44	%		3 ppts

¹	A full reconciliation of our non-GAAP results to our GAAP results is included in the attached tables. See also our statement on non-GAAP financial measures at the end of this earnings release.

²	Includes activity assessment fees.

³	Transaction-based expenses include Section 31 fees, liquidity payments and routing & clearing fees.

⁴	Excludes merger expenses, exit costs and charge for fair value adjustment to RSU awards.

⁵	Excludes merger expenses, exit costs, charge for fair value adjustment to RSU awards, disposal activities and discrete tax items.

“Our results for the second quarter reflect the actions we have taken to grow our businesses and diligently manage our cost base and capital,” commented Michael S. Geltzeiler, Group Executive Vice President and CFO, NYSE Euronext. “On a constant dollar/portfolio basis, costs are down 7% year-to-date and we have already achieved 64% of the $250 million Project 14 target for costs reductions, well ahead of the 60% promised by year-end 2013. Further cost savings will come online in the second-half of 2013 with the completed transition to ICE Clear Europe which will position us to easily surpass our full-year cost guidance target of $1,525 million. Turning to capital, capital expenditures year-to-date are running 30% below the prior year period and we are on track to come in well below our 2013 guidance of $150 million. We retired the $414 million remaining on our $750 million June 2013 notes, which combined with strong EBITDA generation, reduced our debt-to-EBITDA ratio to 1.9 times. The debt retirement will reduce interest expense in the second half of the year. All of these actions have helped bolster our business model and set the table for our proposed combination with ICE.”

SECOND QUARTER 2013 CONSOLIDATED RESULTS

Total revenues, less transaction-based expenses, which include Section 31 fees, liquidity payments and routing and clearing fees (net revenue), were $611 million in the second quarter of 2013, up 1% from the second quarter of 2012 and included a $2 million negative impact from foreign currency fluctuations.

Other operating expenses, excluding merger expenses and exit costs, were $382 million in the second quarter of 2013, down $14 million, or 4% compared to the second quarter of 2012. Excluding the impact of new business initiatives and a $2 million positive impact attributable to foreign currency fluctuations, other operating expenses were down $20 million, or 5%, compared to the second quarter of 2012.

Cumulative Project 14 savings through the second quarter of 2013 were $161 million, which represented 64% of the total $250 million expected to be saved by the end of 2014.

Operating income, excluding merger expenses and exit costs, was $229 million, up $23 million, or 11% compared to the second quarter of 2012.

Adjusted EBITDA, excluding merger expenses and exit costs, was $291 million, up $19 million, or 7% compared to the second quarter of 2012. Adjusted EBITDA margin was 48% in the second quarter of 2013, compared to 45% in the second quarter of 2012.

Loss from associates is primarily related to New York Portfolio Clearing. Net (income) loss attributable to non-controlling interest consists primarily of net income attributable to NYSE Amex Options, which was partially offset by the net loss attributable to NYSE Liffe U.S.

The effective tax rate for the second quarter of 2013, excluding merger expenses, exit costs and discrete tax items, was 24% compared to approximately 25% for the second quarter of 2012.

The weighted average diluted shares outstanding in the second quarter of 2013 was 244 million, down from 253 million in second quarter of 2012.

At June 30, 2013, total debt was $2.2 billion. The decline in total debt was driven by the retirement of the remaining $414 million of our $750 million 4.80% notes that were due in June 2013. Cash, cash equivalents and short term financial investments (including $154 million related to Section 31 fees collected from market participants and due to the SEC) were $0.3 billion and net debt was $1.9 billion.

The ratio of debt-to-EBITDA at the end of the second quarter of 2013 was 1.9x, down from 2.5x at the end of 2012. The decline was driven by the retirement of the remaining $414 million of our $750 million 4.80% notes due in June 2013 and stronger adjusted EBITDA generation in the first half of 2013, compared to the second half of 2012.

Total capital expenditures were $32 million in the second quarter of 2013, down from $41 million in the second quarter of 2012.

The board of directors declared a cash dividend of $0.30 per share for the third quarter of 2013 with a record date of September 16, 2013 and a payment date of September 30, 2013. The anticipated ex-date will be September 12, 2013. However, the third quarter 2013 dividend is payable on the payment date only if the ICE transaction has not been completed as of the record date.

SECOND QUARTER 2013 SEGMENT RESULTS

Below is a summary of business segment results:


	*Derivatives*						*Cash Trading & Listings*						*Info. Svcs. & Tech. Solutions*
*( $ in millions)*	Net Revenue¹		Operating Income²		Adjusted EBITDA²		Net Revenue¹		Operating Income²		Adjusted EBITDA²		Revenue		Operating Income²		Adjusted EBITDA²
2Q13	$	195	$	103	$	111	$	302	$	128	$	169	$	114	$	25	$	38
1Q13	$	201	$	104	$	113	$	287	$	114	$	154	$	112	$	25	$	38
2Q12	$	182	$	85	$	95	$	300	$	127	$	170	$	119	$	27	$	40
YTD 2013	$	396	$	207	$	224	$	589	$	242	$	323	$	226	$	50	$	76
YTD 2012	$	358	$	164	$	184	$	604	$	246	$	331	$	240	$	55	$	82

¹	Net revenue defined as total revenues less transaction-based expenses including Section 31 fees, liquidity payments and routing & clearing fees.

²	Excludes merger expenses and exit costs.

DERIVATIVES

Derivatives net revenue of $195 million in the second quarter of 2013 increased $13 million, or 7% compared to the second quarter of 2012 and included a $3 million negative impact from foreign currency fluctuations. The $16 million increase in derivatives net revenue, on a constant currency basis, compared to the second quarter of 2012, was driven by higher average daily trading volumes in European interest rate derivatives products. Highlights for the second quarter of 2013 included:

•

Global derivatives ADV, excluding Bclear, in the second quarter of 2013 of 7.7 million contracts increased 12% compared to the second quarter of 2012, but decreased 2% compared to first quarter of 2013 levels.

•

NYSE Euronext European derivatives products ADV of 4.0 million contracts in the second quarter of 2013 decreased 13% compared to the second quarter of 2012 and decreased 10% from first quarter of 2013 levels. Excluding Bclear, European derivatives products ADV in the second quarter of 2013 increased 13% compared to the second quarter of 2012, but decreased 9% from the first quarter of 2013.

•

U.S. equity options ADV in the second quarter of 2013 increased 12% to 4.4 million contracts compared to the second quarter of 2012 and increased 3% from the first quarter of 2013. U.S. consolidated equity options ADV of 15.9 million contracts increased 7% compared to the second quarter of 2012 and increased 6% from the first quarter of 2013. NYSE Euronext’s U.S. equity options exchanges accounted for 28% of total consolidated U.S. equity options trading in the second quarter of 2013, up from 26% in the second quarter of 2012, and in-line with the first quarter of 2013.

•

NYSE Liffe and ICE Clear Europe, a wholly-owned subsidiary of IntercontinentalExchange, completed the clearing transition for the London-based derivatives market of NYSE Liffe to ICE Clear Europe. The clearing transition involved 43 member firms with 75 million contract sides being transferred to ICE Clear Europe along with $11.2 billion margin held at the clearing house on the morning of July 1, 2013. The combined guaranty fund for ICE Energy and NYSE Liffe Futures and Options is set at $1.2 billion from July 1, 2013. In addition, the migration covered over 1,300 products across bond, commodity, equity, index and interest rate derivatives and ten new settlement currencies for ICE Clear Europe.

•

NYSE Euronext Rate Administration Limited, a subsidiary of NYSE Euronext, announced that following a rigorous selection process conducted by the independent Hogg Tendering Advisory Committee, NYSE Euronext Rate Administration Limited has been appointed as the new administrator for LIBOR. The transfer of the administration from BBA LIBOR Ltd, the subsidiary of the British Bankers’ Association is expected to be completed in early 2014, once the Financial Conduct Authority’s authorization of NYSE Euronext Rate Administration Limited is complete.

CASH TRADING AND LISTINGS

Cash Trading and Listings net revenue of $302 million in the second quarter of 2013 increased $2 million, or 1% compared to the second quarter of 2012 and included a $1 million positive impact from foreign currency fluctuations. Highlights for the second quarter of 2013 included:

•

European cash ADV of 1.5 million transactions in the second quarter of 2013 decreased 14% from 1.7 million transactions in the second quarter of 2012, but increased 7% from first quarter of 2013 levels. European cash market share (value traded) in NYSE Euronext’s four core markets was 67% in the second quarter of 2013, up from 66% in the second quarter of 2012 and up from 65% in the first quarter of 2013.

•

In the U.S., cash trading ADV in the second quarter of 2013 decreased 11% to 1.6 billion shares from 1.8 billion shares in the second quarter of 2012, but increased 5% from the first quarter of 2013. Tape A matched market share was 31% in the second quarter of 2013, down from the 32% recorded in the second quarter of 2012, but up from 30% recorded in the first quarter of 2013. Trading off-exchange, as reported by Trade Reporting Facilities (“TRF”), increased to 35% of overall consolidated average daily volume in the second quarter of 2013 up from 32% in the second quarter of 2012.

•

NYSE Euronext ranked #1 globally in initial public offerings (IPOs) and follow-ons globally through the second quarter of 2013. NYSE Euronext raised $29 billion in total global proceeds on 72 IPOs

and $105 billion in total global proceeds on 256 follow-ons. In the U.S., NYSE Euronext led the market with 47 IPOs raising $15 billion in proceeds (excluding closed-end funds) and has steadily captured share in technology-based IPOs. NYSE Euronext has listed 64% of the technology IPOs in the U.S., through the second quarter of 2013, including Tableau Software, Gigamon, Light in the Box and ChannelAdvisor.

•

NYSE was the leader in transfers – 4 companies with $168 billion in total market capitalization transferred or announcing transfer to the NYSE in the first half of 2013, while 8 companies with $3.9 billion in total market capitalization transferred away. Oracle Corp. (ORCL) announced transfer to the NYSE on 6/20/2013, and began trading on the NYSE on 7/15/2013. ORCL is the largest transfer in history with $156 billion in market capitalization. Since 2010, five Nasdaq-100 Index members have transferred to the NYSE, including two in 2013 (Oracle Corp. and Perrigo Co.). Since 2000, 227 companies have transferred to the NYSE with a total market capitalization of $706 billion.

•

In the first half of 2013, NYSE Euronext welcomed 23 new listings on its European markets. Key listings included: Infosys (INFY), a global leader in consulting and technology and the first Indian company admitted to trading on NYSE Euronext’s London and Paris markets; Constellium (CSTM), a global leader in innovative and high value-added aluminum products; and Bpost (BPOST), the leading postal operator in Belgium, and the year’s second largest IPO in Europe and the largest non-finance related IPO.

•

NYSE Euronext opened EnterNext^®, its marketplace for SMEs. This new subsidiary is dedicated to companies that have a capitalization of under €1 billion and already covers over 750 SMEs listed on the regulated market of NYSE Euronext and on NYSE Alternext.

•

Euronext extended its range of stock market indices with the addition of the CAC 40^® Ext, which tracks the market’s benchmark CAC 40^®, but with extended calculation and distribution hours. With the CAC 40^® Ext index, investors can track trends in the CAC 40^®.

INFORMATION SERVICES AND TECHNOLOGY SOLUTIONS

Information Services and Technology Solutions revenue was $114 million in the second quarter of 2013, a decrease of $5 million, or 4% compared to the second quarter of 2012 but increased $2 million or 2% from the first quarter of 2013. The decrease in revenue was primarily due to the decline in the number of large, one-time managed services sales which was partially offset by higher market data revenue from previously announced market data initiatives. Highlights for the second quarter of 2013 included:

•

NYSE Technologies launched NYSE BQT (Best Quote & Trades), a consolidated XDP feed that provides a real-time, unified view of Level 1 market data, including Best Bid/Offer and Last Sale information for the NYSE, NYSE Arca, and NYSE MKT exchanges including NASDAQ issues traded on NYSE Arca and NYSE MKT.

•

Market Data initiatives continue to build with approximately 84% of all clients registered for the new non-display license agreements. This momentum will be further reflected in the third quarter and on an annual basis is expected to increase revenues by double digits.

•

NYSE Technologies was named ‘Best Data Center Provider to the Sell Side’ by Waters Technology. The award was presented at the Waters Technology, Sell Side Technology Awards.

•

Americas Trading System Brasil (ATS Brasil), a joint venture between Americas Trading Group (ATG) and NYSE Euronext, has formally made an authorization request with the Securities and

Exchange Commission (CVM) in Brazil to launch a new stock exchange in the Brazilian market. The formal request to approve ATS Brasil for trading in 2014 also includes provisions for the admission of new liquidity providers to the joint venture.

# # #

The accompanying tables include information integral to assessing the Company’s financial performance.

NYSE Euronext Earnings News Release with Tables and Operating Data

Analyst/Investor/Media Call: July 30, 2013 at 8:00 a.m. (NY/EDT) / 2:00 p.m. (Paris/CEST)

A presentation and live audio webcast of the second quarter 2013 earnings conference call will be available on the Investor Relations section of NYSE Euronext’s website, http://www.nyseeuronext.com/ir. Those wishing to listen to the live conference via telephone should dial-in at least ten minutes before the call begins. An audio replay of the conference call will be available approximately one hour after the call on the Investor Relations section of NYSE Euronext’s website, http://www.nyseeuronext.com/ir or by dial-in beginning approximately two hours following the conclusion of the live call.

Live Dial-in Information:

United States: 877.280.4962

International: 857.244.7319

Passcode: 32047272

Replay Dial-in Information:

United States: 888.286.8010

International: 617.801.6888

Passcode: 32457864

Non-GAAP Financial Measures

To supplement NYSE Euronext’s consolidated financial statements prepared in accordance with GAAP and to better reflect period-over-period comparisons, NYSE Euronext uses non-GAAP financial measures of performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure, calculated and presented in accordance with GAAP. Non-GAAP financial measures do not replace and are not superior to the presentation of GAAP financial results, but are provided to (i) present the effects of certain merger expenses, exit costs, disposal activities, the BlueNext tax settlement, debt refinancing costs, charge for fair value adjustment to RSU awards and discrete tax items, and (ii) improve overall understanding of NYSE Euronext’s current financial performance and its prospects for the future. Specifically, NYSE Euronext believes the non-GAAP financial results provide useful information to both management and investors regarding certain additional financial and business trends relating to financial condition and operating results. In addition, management uses these measures for reviewing financial results and evaluating financial performance. The non-GAAP adjustments for all periods presented are based upon information and assumptions available as of the date of this release.

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 MKT, 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. For more information, please visit: http://www.nyx.com.

CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS

This written communication contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future” or the negative of those terms or other words of similar meaning. You should carefully read forward-looking statements, including statements that contain these words, because they discuss our future expectations or state other “forward-looking” information. Forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time. ICE Group, ICE and NYSE Euronext caution readers that any forward-looking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement.

Forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving ICE Group, ICE and NYSE Euronext, including future financial results, ICE’s and NYSE Euronext’s plans, objectives, expectations and intentions, the expected timing of completion of the transaction and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in ICE’s and NYSE Euronext’s filings with the U.S. Securities and Exchange Commission (the “SEC”). These risks and uncertainties include, without limitation, the following: the inability to close the merger in a timely manner; the failure to satisfy other conditions to completion of the merger, including receipt of required regulatory and other approvals; the failure of the proposed transaction to close for any other reason; the possibility that any of the anticipated benefits of the proposed transaction will not be realized; the risk that integration of NYSE Euronext’s operations with those of ICE will be materially delayed or will be more costly or difficult than expected; the challenges of integrating and retaining key employees; the effect of the announcement of the transaction on ICE’s, NYSE Euronext’s or the combined company’s respective business relationships, operating results and business generally; the possibility that the anticipated synergies and cost savings of the merger will not be realized, or will not be realized within the expected time period; the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; general competitive, economic, political and market conditions and fluctuations; actions taken or conditions imposed by the United States and foreign governments or regulatory authorities; and adverse outcomes of pending or threatened litigation or government investigations. In addition, you should carefully consider the risks and uncertainties and other factors that may affect future results of the combined company, as are described in the section entitled “Risk Factors” in the joint proxy statement/prospectus filed by ICE Group with the SEC, and as described in ICE’s and NYSE Euronext’s respective filings with the SEC that are available on the SEC’s web site located at www.sec.gov, including the sections entitled “Risk Factors” in ICE’s Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 6, 2013, and “Risk Factors” in NYSE Euronext’s Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 26, 2013. You should not place undue reliance on forward-looking statements, which speak only as of the date of this written communication. Except for any obligations to disclose material information under the Federal securities laws, ICE Group, ICE and NYSE Euronext undertake no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this written communication.

IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO FIND IT

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. In connection with the proposed transaction, ICE Group has filed with the SEC a registration statement on Form S-4, which the SEC has declared effective and which contains a joint proxy statement/prospectus with respect to the proposed acquisition of NYSE Euronext by ICE Group. The final joint proxy statement/prospectus has been delivered to the stockholders of ICE and NYSE Euronext. INVESTORS AND SECURITY HOLDERS OF BOTH ICE AND NYSE EURONEXT ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE PROPOSED TRANSACTION CAREFULLY AND IN ITS ENTIRETY, INCLUDING ANY DOCUMENTS PREVIOUSLY FILED WITH THE SEC AND INCORPORATED BY REFERENCE INTO THE JOINT PROXY STATEMENT/PROSPECTUS, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE IT CONTAINS IMPORTANT INFORMATION REGARDING ICE, NYSE EURONEXT AND THE PROPOSED TRANSACTION. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus, as well as other filings containing information about ICE and NYSE Euronext, without charge, at the SEC’s website at http://www.sec.gov. Investors may also obtain these documents, without charge, from ICE’s website at http://www.theice.com and from NYSE Euronext’s website at http://www.nyx.com.

NYSE Euronext

Condensed consolidated statements of income (unaudited)

(in millions, except per share data)


	Three months ended									Six months ended
	June 30, 2013			Mar. 31, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Revenues
Transaction and clearing fees	$	657		$	634		$	649		$	1,291		$	1,258
Market data		91			83			87			174			178
Listing		111			110			112			221			222
Technology services		77			80			87			157			173
Other revenues		59			56			51			115			107

Total revenues		995			963			986			1,958			1,938
Transaction-based expenses:
Section 31 fees		78			75			86			153			152
Liquidity payments, routing and clearing		306			288			298			594			583

Total revenues, less transaction-based expenses		611			600			602			1,211			1,203

Other operating expenses
Compensation		154			161			152			315			312
Depreciation and amortization		62			62			66			124			132
Systems and communications		42			43			44			85			89
Professional services		67			69			69			136			142
Selling, general and administrative		57			55			65			112			126
Merger expenses and exit costs		22			8			12			30			43

Total other operating expenses		404			398			408			802			844

Operating income		207			202			194			409			359
Net interest and investment income (loss)		(25	)		(27	)		(28	)		(52	)		(56	)
Loss from associates		(3	)		(2	)		(2	)		(5	)		(3	)
Net gain (loss) on disposal activities		10			—			(2	)		10			(2	)
Other income (loss)		6			(1	)		3			5			3

Income before income taxes		195			172			165			367			301
Income tax (provision) benefit		(17	)		(41	)		(34	)		(58	)		(79	)

Net income		178			131			131			309			222
Net (income) loss attributable to noncontrolling interest		(5	)		(5	)		(6	)		(10	)		(10	)

Net income attributable to NYSE Euronext	$	173		$	126		$	125		$	299		$	212

Basic earnings per share attributable to NYSE Euronext	$	0.71		$	0.52		$	0.50		$	1.23		$	0.83
Diluted earnings per share attributable to NYSE Euronext	$	0.71		$	0.52		$	0.49		$	1.22		$	0.83
Basic weighted average shares outstanding		243			243			252			243			255
Diluted weighted average shares outstanding		244			244			253			244			256

We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results but are provided to improve overall understanding of our current financial performance and our prospects for the future.


	Three months ended									Six months ended
Non-GAAP Reconciliation	June 30, 2013			Mar. 31, 2013			June 30, 2012			June 30, 2013			June 30, 2012
Income (loss) before income taxes—GAAP	$	195		$	172		$	165		$	367		$	301
Excluding:
Merger expenses and exit costs		22			8			12			30			43
Net (gain) loss on disposal activities		(10	)		—			2			(10	)		2
Fair value adjustment to RSU awards		—			10			—			10			—

Income before income taxes—as adjusted		207			190			179			397			346
Income tax provision		(49	)		(46	)		(45	)		(95	)		(87	)

Net income—as adjusted		158			144			134			302			259
Net (income) loss attributable to noncontrolling interest		(5	)		(5	)		(6	)		(10	)		(10	)

Net income attributable to NYSE Euronext—as adjusted	$	153		$	139		$	128		$	292		$	249

Diluted earnings per share attributable to NYSE Euronext	$	0.63		$	0.57		$	0.51		$	1.19		$	0.97

NYSE Euronext

Segment Results (unaudited)

(in millions)


		Three months ended June 30, 2013															Three months ended June 30, 2012
		Derivatives			Cash Trading and Listings			Information Services and Technology Solutions			Corporate and Eliminations			Consolidated			Derivatives			Cash Trading and Listings			Information Services and Technology Solutions			Corporate and Eliminations			Consolidated
Revenues
Transaction and clearing fees		$	262		$	395		$	—		$	—		$	657		$	219		$	430		$	—		$	—		$	649
Market data			10			44			37			—			91			11			44			32			—			87
Listing			—			111			—			—			111			—			112			—			—			112
Technology services			—			—			77			—			77			—			—			87			—			87
Other revenues			13			46			—			—			59			10			40			—			1			51

Total revenues			285			596			114			—			995			240			626			119			1			986
Transaction-based expenses:
Section 31 fees			—			78			—			—			78			—			86			—			—			86
Liquidity payments, routing and clearing			90			216			—			—			306			58			240			—			—			298

Total revenues, less transaction-based expenses			195			302			114			—			611			182			300			119			1			602
Depreciation and amortization	[a]		8			41			13			—			62			10			43			13			—			66
Merger expenses and exit costs (M&E)	[b]		3			3			1			15			22			7			7			4			(6	)		12
Other operating expenses			84			133			76			27			320			87			130			79			34			330

Operating income—GAAP	[c]	$	100		$	125		$	24		$	(42	)	$	207		$	78		$	120		$	23		$	(27	)	$	194

Operating income excluding M&E	[c] + [b]	$	103		$	128		$	25		$	(27	)	$	229		$	85		$	127		$	27			(33	)	$	206

Adjusted EBITDA	[c] + [b] + [a]	$	111		$	169		$	38		$	(27	)	$	291		$	95		$	170		$	40			(33	)	$	272

Operating margin excluding M&E			53	%		42	%		22	%		N/M			37	%		47	%		42	%		23	%		N/M			34	%
Adjusted EBITDA margin			57	%		56	%		33	%		N/M			48	%		52	%		57	%		34	%		N/M			45	%

		Six months ended June 30, 2013															Six months ended June 30, 2012
		Derivatives			Cash Trading and Listings			Information Services and Technology Solutions			Corporate and Eliminations			Consolidated			Derivatives			Cash Trading and Listings			Information Services and Technology Solutions			Corporate and Eliminations			Consolidated
Revenues
Transaction and clearing fees		$	533		$	758		$	—		$	—		$	1,291		$	425		$	833		$	—		$	—		$	1,258
Market data			20			85			69			—			174			22			89			67			—			178
Listing			—			221			—			—			221			—			222			—			—			222
Technology services			—			—			157			—			157			—			—			173			—			173
Other revenues			25			90			—			—			115			22			84			—			1			107

Total revenues			578			1,154			226			—			1,958			469			1,228			240			1			1,938
Transaction-based expenses:
Section 31 fees			—			153			—			—			153			—			152			—			—			152
Liquidity payments, routing and clearing			182			412			—			—			594			111			472			—			—			583

Total revenues, less transaction-based expenses			396			589			226			—			1,211			358			604			240			1			1,203
Depreciation and amortization	[a]		17			81			26			—			124			20			85			27			—			132
Merger expenses and exit costs (M&E)	[b]		5			7			4			14			30			8			13			10			12			43
Fair value adjustment to RSU awards	[c]		—			—			—			10			10			—			—			—			—			—
Other operating expenses			172			266			150			50			638			174			273			158			64			669

Operating income—GAAP	[d]	$	202		$	235		$	46		$	(74	)	$	409		$	156		$	233		$	45		$	(75	)	$	359

Operating income excluding M&E and fair value adjustment to RSU awards	[d] + [c] + [b]	$	207		$	242		$	50		$	(50	)	$	449		$	164		$	246		$	55		$	(63	)	$	402

Adjusted EBITDA	[d] + [c] + [b] + [a]	$	224		$	323		$	76		$	(50	)	$	573		$	184		$	331		$	82		$	(63	)	$	534

Operating margin excluding M&E and fair value adjustment to RSU awards			52	%		41	%		22	%		N/M			37	%		46	%		41	%		23	%		N/M			33	%
Adjusted EBITDA margin			57	%		55	%		34	%		N/M			47	%		51	%		55	%		34	%		N/M			44	%


N/M = Not meaningful		We use non-GAAP financial measures of operating performance. Non-GAAP measures do not replace and are not superior to the presentation of our GAAP financial results but are provided to improve overall understanding of our current financial performance and our prospects for the future.

NYSE Euronext

Fixed operating expenses (unaudited)

(in millions)


Expense Base Development on a Constant $ / Constant Portfolio Basis

Fixed operating expenses for the three months ended June 30, 2013 - GAAP	$	404
Less:
Merger expenses and exit costs		(22	)

	$	382
Excluding the impact of:
Currency translation		2
New business initiatives		(8	)

Fixed operating expenses for the three months ended June 30, 2013 - as adjusted	$	376		[a	]

Fixed operating expenses for the three months ended June 30, 2012 - GAAP	$	408
Less:
Merger expenses and exit costs		(12	)

Fixed operating expenses for the three months ended June 30, 2012 - as adjusted	$	396		[b	]

Variance ($)	$	(20	)	[a	] - [b] = [c]

Variance (%)		-5	%	[c	] / [b]

Fixed operating expenses for the six months ended June 30, 2013 - GAAP	$	802
Less:
Fair value adjustment to RSU awards	$	(10	)
Merger expenses and exit costs		(30	)

	$	762
Excluding the impact of:
Currency translation		3
New business initiatives		(17	)

Fixed operating expenses for the six months ended June 30, 2013 - as adjusted	$	748		[a	]

Fixed operating expenses for the six months ended June 30, 2012 - GAAP	$	844
Less:
Merger expenses and exit costs		(43	)

Fixed operating expenses for the six months ended June 30, 2012 - as adjusted	$	801		[b	]

Variance ($)	$	(53	)	[a	] - [b] = [c]

Variance (%)		-7	%	[c	] / [b]

Expense Base Development Versus Project 14 Cost Savings Plan

Fixed operating expenses for the six months ended June 30, 2013 - GAAP	$	802
Fixed operating expenses for the six months ended December 31, 2012 - GAAP		871

Fixed operating expenses for the trailing twelve months ended June 30, 2013 - GAAP	$	1,673
Less:
Fair value adjustment to RSU awards	$	(13	)
Merger expenses and exit costs		(121	)

	$	1,539
Excluding the impact of:
New business initiatives		(52	)
Currency translation⁽¹⁾		18

Fixed operating expenses for the trailing twelve months ended June 30, 2013 - as adjusted	$	1,505		[a	]


Fixed operating expenses for the year ended December 31, 2011 - base year	$	1,666		[b	]

Project 14 Cost Savings	$	161		[b	] - [a] = [c]

Cumulative Project 14 Cost Savings to date as % of total $250 million plan		64	%	[c	] / $250

(1)	We measure the Project 14 cost savings utilizing constant currency rates of $1.35 for the Euro and $1.60 for the Pound Sterling.

NYSE Euronext

Condensed consolidated statements of financial condition (unaudited)

(in millions)


	June 30, 2013		Dec. 31, 2012
Assets
Current assets:
Cash, cash equivalents, and short term financial investments	$	322	$	380
Accounts receivable, net		442		405
Deferred income taxes		65		67
Other current assets		119		156

Total current assets		948		1,008
Property and equipment, net		887		948
Goodwill		4,027		4,163
Other intangible assets, net		5,573		5,783
Deferred income taxes		70		74
Other assets		541		580

Total assets	$	12,046	$	12,556

Liabilities and equity
Accounts payable and accrued expenses	$	727	$	824
Deferred revenue		314		138
Short term debt		179		454

Total current liabilities		1,220		1,416
Long term debt		2,039		2,055
Deferred income taxes		1,401		1,435
Accrued employee benefits		562		602
Deferred revenue		375		378
Other liabilities		22		27

Total liabilities		5,619		5,913

Redeemable noncontrolling interest		286		274

Equity		6,141		6,369

Total liabilities and equity	$	12,046	$	12,556

NYSE Euronext

Selected Statistical Data:

Volume Summary


	Average Daily Volume															Total Volume															Total Volume
(Unaudited)	2Q13			1Q13			% D 2Q13 vs. 1Q13			2Q12			% D 2Q13 vs. 2Q12			2Q13			1Q13			% D 2Q13 vs. 1Q13			2Q12			% D 2Q13 vs. 2Q12			YTD 2013			YTD 2012			% D
Number of Trading Days—European Cash		63			62						62						63			62						62						125			127
Number of Trading Days—European Derivatives		64			62						63						64			65						63						126			128
Number of Trading Days—U.S. Markets		64			60						63						64			60						63						124			125
European Derivatives Products (contracts in thousands)		4,048			4,515			-10.3	%		4,654			-13.0	%		259,087			279,936			-7.4	%		293,182			-11.6	%		539,024			509,777			5.7	%
of which Bclear		749			883			-15.2	%		1,743			-57.1	%		47,918			54,749			-12.5	%		109,827			-56.4	%		102,666			153,556			-33.1	%
Avg. Net Revenue Per Contract (ex. Bclear)	$	0.610		$	0.622			-1.9	%	$	0.674			-9.5	%	$	0.610		$	0.622			-1.9	%	$	0.674			-9.5	%
Avg. Net Revenue Per Contract (ex. Bclear)—Currency Neutral	$	0.610		$	0.618			-1.3	%	$	0.656			-7.0	%	$	0.610		$	0.618			-1.3	%	$	0.656			-7.0	%
Total Interest Rate Products¹		2,463			2,749			-10.4	%		1,953			26.1	%		157,654			170,433			-7.5	%		123,059			28.1	%		328,087			238,387			37.6	%
Short Term Interest Rate Products		2,276			2,560			-11.1	%		1,801			26.4	%		145,688			158,710			-8.2	%		113,479			28.4	%		304,398			218,917			39.0	%
Medium and Long Term Interest Rate Products		187			189			-1.1	%		152			22.9	%		11,965			11,723			2.1	%		9,580			24.9	%		23,689			19,469			21.7	%
Total Equity Products²		1,496			1,674			-10.7	%		2,622			-43.0	%		95,732			103,802			-7.8	%		165,188			-42.0	%		199,534			261,162			-23.6	%
Individual Equity Products		966			1,132			-14.7	%		2,065			-53.2	%		61,801			70,179			-11.9	%		130,086			-52.5	%		131,980			196,328			-32.8	%
Futures		606			660			-8.2	%		1,603			-62.2	%		38,806			40,948			-5.2	%		100,962			-61.6	%		79,755			134,137			-40.5	%
Options		359			471			-23.8	%		462			-22.3	%		22,995			29,231			-21.3	%		29,124			-21.0	%		52,226			62,191			-16.0	%
Equity Index Products		530			542			-2.2	%		557			-4.8	%		33,931			33,623			0.9	%		35,102			-3.3	%		67,554			64,834			4.2	%
of which Bclear		748			881			-15.1	%		1,743			-57.1	%		47,918			54,749			-12.5	%		109,827			-56.4	%		102,666			153,556			-33.1	%
Individual Equity Products		650			758			-14.2	%		1,667			-61.0	%		41,625			47,008			-11.5	%		105,025			-60.4	%		88,633			144,023			-38.5	%
Futures		579			649			-10.9	%		1,561			-62.9	%		37,032			40,267			-8.0	%		98,312			-62.3	%		77,299			130,972			-41.0	%
Options		72			109			-34.0	%		107			-32.7	%		4,593			6,742			-31.9	%		6,713			-31.6	%		11,334			13,051			-13.2	%
Equity Index Products		98			123			-20.5	%		76			28.4	%		6,262			7,630			-17.9	%		4,801			30.4	%		13,892			9,533			45.7	%
Commodity Products		89			92			-3.1	%		78			13.7	%		5,701			5,701			0.0	%		4,935			15.5	%		11,403			10,228			11.5	%
U.S. Derivatives Products (contracts in thousands)
Avg. Net Revenue Per Contract (ex. Liffe U.S. volumes)	$	0.156		$	0.150			4.0	%	$	0.150			4.0	%	$	0.156		$	0.150			4.0	%	$	0.150			4.0	%
Equity Options Contracts³		4,376			4,231			3.4	%		3,915			11.8	%		280,070			253,843			10.3	%		246,634			13.6	%		533,914			502,556			6.2	%
Total Consolidated Options Contracts		15,879			14,981			6.0	%		14,911			6.5	%		1,016,261			898,885			13.1	%		939,423			8.2	%		1,915,146			1,923,930			3.9	%
Share of Total Consolidated Options Contracts		27.6	%		28.2	%					26.3	%					27.6	%		28.2	%					26.3	%					27.9	%		26.1	%
NYSE Liffe U.S.
Futures and Futures Options Volume*		63.3			58.7			7.7	%		73.4			-13.8	%		4,111.7			3,641.1			12.9	%		4,769.3			-13.8	%		7,752.8			10,930.6			-29.1	%
European Cash Products (trades in thousands)		1,470			1,378			6.7	%		1,709			-14.0	%		92,600			85,419			8.4	%		105,934			-12.6	%		178,020			208,861			-14.8	%
Avg. Net Revenue Per Transaction	$	0.562		$	0.620			-9.4	%	$	0.519			8.3	%	$	0.562		$	0.620			-9.4	%	$	0.519			8.3	%
Avg. Net Revenue Per Transaction—Currency Neutral	$	0.562		$	0.616			-8.8	%	$	0.530			6.0	%	$	0.562		$	0.616			-8.8	%	$	0.530			6.0	%
Equities		1,418			1,326			7.0	%		1,656			-14.4	%		89,352			82,199			8.7	%		102,668			-13.0	%		171,551			202,107			-15.1	%
Exchange-Traded Funds		15			14			8.1	%		14			3.1	%		932			848			9.9	%		890			4.8	%		1,780			1,831			-2.8	%
Structured Products		32			33			-2.0	%		33			-3.9	%		2,011			2,019			-0.4	%		2,059			-2.3	%		4,030			4,294			-6.2	%
Bonds		5			6			-14.9	%		5			-5.2	%		305			353			-13.5	%		317			-3.7	%		658			628			4.9	%
U.S. Cash Products (shares in millions)		1,626			1,545			5.2	%		1,823			-10.8	%		104,043			92,721			12.2	%		114,863			-9.4	%		196,764			225,100			-12.6	%
Avg. Net Revenue Per 100 Shares Handled	$	0.0473		$	0.0431			9.7	%	$	0.0428			10.5	%	$	0.0473		$	0.0431			9.7	%	$	0.0428			10.5	%
NYSE Listed (Tape A) Issues ⁴
Handled Volume ⁵		1,154			1,120			3.0	%		1,304			-11.5	%		73,870			67,207			9.9	%		82,157			-10.1	%		141,077			161,180			-12.5	%
Matched Volume ⁶		1,113			1,077			3.4	%		1,239			-10.2	%		71,262			64,603			10.3	%		78,081			-8.7	%		135,865			152,613			-11.0	%
Total NYSE Listed Consolidated Volume		3,608			3,585			0.6	%		3,885			-7.1	%		230,911			215,111			7.3	%		244,756			-5.7	%		446,022			488,556			-8.7	%
Share of Total Consolidated Volume
Handled Volume ⁵		32.0	%		31.2	%					33.6	%					32.0	%		31.2	%					33.6	%					31.6	%		33.0	%
Matched Volume ⁶		30.9	%		30.0	%					31.9	%					30.9	%		30.0	%					31.9	%					30.5	%		31.2	%
NYSE Arca, MKT and Regional (Tape B) Listed Issues
Handled Volume ⁵		286			224			27.4	%		279			2.4	%		18,298			13,466			35.9	%		17,582			4.1	%		31,764			34,023			-6.6	%
Matched Volume ⁶		263			207			26.8	%		251			4.6	%		16,823			12,435			35.3	%		15,826			6.3	%		29,258			30,497			-4.1	%
Total NYSE Arca & NYSE MKT Listed Consolidated Volume		1,248			994			25.4	%		1,188			5.0	%		79,841			59,667			33.8	%		74,843			6.7	%		139,508			144,466			-3.4	%
Share of Total NYSE Arca & NYSE MKT Listed Consolidated Volume
Handled Volume ⁵		22.9	%		22.6	%					23.5	%					22.9	%		22.6	%					23.5	%					22.8	%		23.6	%
Matched Volume ⁶		21.1	%		20.8	%					21.1	%					21.1	%		20.8	%					21.1	%					21.0	%		21.1	%
Nasdaq Listed Issues (Tape C)
Handled Volume ⁵		186			201			-7.6	%		240			-22.7	%		11,875			12,048			-1.4	%		15,123			-21.5	%		23,923			30,218			-20.8	%
Matched Volume ⁶		166			179			-7.5	%		206			-19.3	%		10,610			10,758			-1.4	%		12,950			-18.1	%		21,368			25,726			-16.9	%
Total Nasdaq Listed Consolidated Volume		1,781			1,822			-2.3	%		1,802			-1.2	%		113,979			109,316			4.3	%		113,554			0.4	%		223,295			224,885			-0.7	%
Share of Total Nasdaq Listed Consolidated Volume
Handled Volume ⁵		10.4	%		11.0	%					13.3	%					10.4	%		11.0	%					13.3	%					10.7	%		13.4	%
Matched Volume ⁶		9.3	%		9.8	%					11.4	%					9.3	%		9.8	%					11.4	%					9.6	%		11.4	%
Exchange-Traded Funds ^5,7
Handled Volume ⁵		267			212			25.9	%		265			0.8	%		17,094			12,733			34.2	%		16,693			2.4	%		29,827			32,100			-7.1	%
Matched Volume ⁶		245			196			25.1	%		238			3.0	%		15,694			11,761			33.4	%		14,995			4.7	%		27,455			28,714			-4.4	%
Total ETF Consolidated Volume		1,203			959			25.5	%		1,167			3.2	%		77,019			57,554			33.8	%		73,495			4.8	%		134,573			140,693			-4.3	%
Share of Total ETF Consolidated Volume
Handled Volume ⁵		22.2	%		22.1	%					22.7	%					22.2	%		22.1	%					22.7	%					22.2	%		22.8	%
Matched Volume ⁶		20.4	%		20.4	%					20.4	%					20.4	%		20.4	%					20.4	%					20.4	%		20.4	%

¹	Data includes currency products.

²	Includes trading activities for Bclear, NYSE Liffe’s service for Equity OTC derivatives.

³	Includes trading in U.S. equity options contracts, not equity-index options.

⁴	Includes all volume executed in NYSE Euronext’s U.S. crossing sessions.

⁵	Represents the total number of shares of equity securities and ETFs internally matched on the NYSE Euronext’s U.S. exchanges or routed to and executed at an external market center. NYSE Arca routing includes odd-lots.

⁶	Represents the total number of shares of equity securities and ETFs executed on the NYSE Euronext’s U.S. exchanges.

⁷	Data included in previously identified categories.

^*	ADVs calculated with the appropriate number of NYSE Liffe U.S. trading days.

Source: NYSE Euronext, Options Clearing Corporation and Consolidated Tape as reported for equity securities.

All trading activity is single-counted, except European cash trading which is double counted to include both buys and sells.

NYSE Euronext

Selected Statistical Data:

Other Operating Statistics


	Three Months Ended
(Unaudited)	June 30, 2013			Mar. 31, 2013			June 30, 2012
NYSE Euronext Listed Issuers
NYSE Listed Issuers
Issuers listed on U.S. Markets¹		2,942			2,928			2,968
Number of new issuer listings¹		88			46			75
Capital raised in connection with new listings ($millions)²	$	8,982		$	5,746		$	5,086
Euronext Listed Issuers
Issuers listed on Euronext¹		884			884			923
Number of new issuer listings³		14			10			10
Capital raised in connection with new listings ($millions)²	$	1,207		$	6		$	1,912
NYSE Euronext Market Data
NYSE Market Data⁴
Share of Tape A revenues (%)		40.3	%		39.5	%		41.4	%
Share of Tape B revenues (%)		26.7	%		26.6	%		27.0	%
Share of Tape C revenues (%)		13.5	%		13.6	%		15.1	%
Professional subscribers (Tape A)		331,102			333,430			360,121
Euronext Market Data
Number of terminals		202,389			205,764			216,752
NYSE Euronext Operating Expenses
NYSE Euronext employee headcount
NYSE Euronext headcount⁵		3,154			3,171			3,062
NYSE Euronext Financial Statistics
NYSE Euronext foreign exchange rate
Average €/US$ exchange rate	$	1.306		$	1.320		$	1.254
Average £/US$ exchange rate	$	1.536		$	1.552		$	1.583

Figures for NYSE listed issuers include listed operating companies, special-purpose acquisition companies and closed-end funds listed on the NYSE and NYSE MKT and do not include NYSE Arca or structured products listed on the NYSE. There were 1,385 ETPs exclusively listed on NYSE Arca as of June 30, 2013. There were 413 corporate structured products listed on the NYSE as of June 30, 2013.

Figures for new issuer listings include NYSE new listings (including new operating companies, special-purpose acquisition companies and closed- end funds listing on NYSE) and new ETP listings on NYSE Arca (NYSE MKT is excluded). Figures for Euronext present the operating companies were listed on Euronext and do not include NYSE Alternext, Free Market, closed-end funds, ETFs and structured product (warrants and certificates). As of June 30, 2013, 181 companies were listed on NYSE Alternext, 252 on Free Market and 673 ETPs were listed on NextTrack.

Euronext figures show capital raised in millions of dollars by operating companies listed on Euronext, NYSE Alternext and Free Market and do not include closed-end funds, ETFs and structured products (warrants and certificates). NYSE figures show capital raised in millions of dollars by operating companies listed on NYSE and NYSE Arca and do not include closed-end funds, ETFs and structured products.

³	Euronext figures include operating companies listed on Euronext, NYSE Alternext and Free Market and do not include closed-end funds, ETFs and structured products (warrants and certificates).

⁴

“Tape A” represents NYSE listed securities, “Tape B” represents NYSE Arca and NYSE MKT listed securities, and “Tape C” represents Nasdaq listed securities. Per Regulation NMS, as of April 1, 2007, share of revenues is derived through a formula based on 25% share of trading, 25% share of value traded, and 50% share of quoting, as reported to the consolidated tape. Prior to April 1, 2007, share of revenues for Tape A and B was derived based on number of trades reported to the consolidated tape, and share of revenue for Tape C was derived based on an average of share of trades and share of volume reported to the consolidated tape. The consolidated tape refers to the collection and dissemination of market data that multiple markets make available on a consolidated basis. Share figures exclude transactions reported to the FINRA/NYSE Trade Reporting Facility.

⁵	Headcount as of March 31, 2013 included 120 employees from the insourcing of offshore resources as part of the January 2013 creation of NYSE Philippines.

Source: NYSE Euronext, Options Clearing Corporation and Consolidated Tape as reported for equity securities.

NYSE Euronext - FORM 8-K - EX-99.1 - July 30, 2013

Attached files

NYSE Euronext Reports