NYSE Euronext: Building a Global Platform

Transcription

1 NYSE Euronext: Building a Global Platform October 2007 ONE MARKET, INFINITE POSSIBILITIES. SM

2 NYSE Euronext: Global Leadership Only Transatlantic Marketplace Listing venue of choice: 3,977 issuers from 55 countries Access to the world s largest liquidity pools Financial Strength: $20bn market capitalization; AA rated NYSE Euronext Strategic Relationships Americas The world s largest equity market Europe Gateway to the Eurozone Asia Tokyo Stock Exchange Strategic alliance National Stock Exchange of India NYSE Cash Equities Fixed Income ETFs DRs NYSE Arca Cash Equities Equity Options ETFs DRs Euronext Cash Equities Bonds ETFs Certificates Warrants DRs Alternext Cash Equities DRs Euronext.liffe Derivatives 5% equity stake 5

3 NYSE Euronext is the World s Largest Cash Equities Marketplace Market Capitalization $Trillions $ Domestic Foreign $10.7 $6.5 $5.1 $5.1 $4.1 0 NYSE Euronext London Tokyo Nasdaq SWX Deutsche Börse Note: Figures denote total worldwide market capitalization for listed operating companies. NYSE Euronext figure adjusted to exclude double-counting of listed issuers dually-listed on NYSE and Euronext. LSE figure includes Main Market listings only. Source: World Federation of Exchanges, Reuters, Bloomberg and NYSE Euronext as of September 30, 2007

4 the World s Largest Cash Equities Trading Marketplace Average Daily Trading Value ($bn) $138.8 $ $57.5 $ $ $ NYSE Euronext Nasdaq London Stock Exchange Tokyo Stock Exchange Shanghai Source: World Federation of Exchanges YTD as of September 30, 2007

5 One Third Of The World s Cash Trading Takes Place On NYSE Euronext s Exchanges One Third Of The World s Cash Trading Takes Place On NYSE Euronext s Exchanges BME Spanish Exchanges 3.1% All Other Exchanges 16.9% Deutsche Borse 4.3% Shanghai Stock Exchange 5.6% NYSE Euronext 32.9% Borsa Italiana 2.8% London Stock Exchange 11.5% OMX 1.9% Nasdaq 14.1% Tokyo Stock Exchange 6.3% National Stock Exchange India 0.6% NYSE Euronext Strategic Partners Note: Value of trading for 2007 YTD as of June 30, 2007 Source: World Federation of Exchanges

6 NYSE Destination for Non-US Companies

7 NYSE: Global Listings Market of Choice Global Listings Market of Choice The NYSE is home to more than 2,700 issuers NYSE MARKET CAPITALIZATION (Segmented by Size) 35% Healthcare 8% NYSE LISTED COMPANIES (Sector Breakdown) Financials 25% Consumer Staples 7% Consumer Discretionary 8% Energy/Utilities 20% 25% 40% Industrials 8% Large Mid Small Tech, Media & Telecom 17% Materials 7% NYSE domestic and international companies (excluding funds, derivatives, warrants and preferred stock). For the purpose of this analysis: large cap greater than $5B, mid cap $1B to $5B, small cap <$1B. Average Market Capitalization of NYSE-listed companies: $12B. Period: As of June 30, Source: FactSet Systems, Inc.

8 NYSE: Strong Global Franchise The NYSE is home to 428 non-us companies from 45 countries the largest of any US market. Average Daily Volume: million shares representing 11.63% of the NYSE volume Average Daily Trading Value: $7.9 billion 2006 TRADING VOLUME # Listed Region Companies Europe 124 Latin American 88 Canada 80 Asia 88 Other* 38 Middle East/Africa 10 Latin America 21% Other* 10% Asia/Pacific 17% Middle East/Africa 3% Canada 22% Europe 27% Source: NYSE Research *Other includes companies from The Netherland Antilles, Bermuda and the Cayman Islands. Data as of August 2007.

9 Non-U.S. Companies Are Returning to the U.S. Markets The NYSE is the Destination for non-us Companies Outside their Home Market Company Sym Type Date Market Cap $ billions Raised $ millions Yamana Gold AUY T-Canada 1/12/07 $3.5 N/A Cellcom Israel CEL IPO-Israel 2/6/07 $2.0 $400.0 Navios Maritime NMH T-Greece 2/22/07 $0.5 N/A Domtar Corporation UFS O-Canada 3/7/07 $3.9 N/A Tongjitang TCM IPO-China 3/16/07 $0.3 $98.7 Gafisa SA GFA IPO-Brazil 3/16/07 $1.6 $493.6 Flagstone Re FSR IPO-Berm 3/30/07 $1.1 $175.5 Simcere Pharma SCR IPO-China 4/20/07 $1.0 $226.6 EDENOR EDN IPO-Arg 4/26/07 $0.8 $257.8 Acorn International ATV IPO-China 5/3/07 $0.5 $119.4 Qiao Xing Mobile QXM IPO-China 5/3/07 $0.6 $160.0 LDK Solar LDK IPO-China 6/1/07 $2.8 $469.4 Yingli Green Energy YGE IPO-China 6/8/07 $1.4 $319.0 KHD Humboldt Wedag KHD Ndq-HK 6/18/07 $0.9 N/A Sterlite Industries SRL IPO-India 6/19/07 $9.2 1,753.1 MF Global Ltd. MF IPO-Berm 7/19/07 $3.6 $2,921.4 Validus Holdings VR IPO-Berm 7/25/07 $1.6 $335.4 Genpact Limited G IPO-India 8/2/07 $2.9 $494.1 E-House (China) EJ IPO-China 8/8/07 $1.0 $201.5 WuXi PharmaTech WX IPO-China 8/9/07 $0.8 $184.6 Cosan Limited CZZ IPO-Brazil 8/16/07 $2.1 $1,050.0 Lundin Mining LMC Amx-Can 8/20/07 $3.0 N/A Babcock & Brown Air FLY IPO-Ireland 9/27/07 $0.8 $430.0 TOTAL $45.9 $10,090.0 Source: NYSE Research Data as of September 2007.

10 Foreign Stocks Listed on NYSE, London and Nasdaq * NYSE London Nasdaq NYSE London Nasdaq * *as of September 30 Sources: Exchanges, WFE

11 Vibrant NYSE/Latin American Partnership Since 2004, thirteen new listings from Latin America, including nine IPOs raising over $5 billion Latin American Companies by Country Brazil (32) Argentina (14) Chile (15) Peru (2) Colombia (1) Puerto Rico (5) Mexico (16) Panama (3) Company Name Cosan Ltd.* Banco Macro Bansud S.A.* Copa Holdings, S.A.* Corpbanca CPFL Energia S.A.* Desarrolladora Homex, S.A. de C.V.* Empresa Distribuidora y Comercializadora Norte S.A.* Gafisa S.A.* GOL Linhas Aereas Inteligentes S.A.* Grupo Aeroportuario del Pacifico, S.A. de C.V.* Masisa TAM, S.A.* Ternium S.A.* *IPOs Latin America Listings Source: NYSE Research Numbers in parentheses denote number of companies in each region/country. Data as of August 2007.

12 Vibrant NYSE/Latin American Partnership The NYSE is the Destination for Latin American Companies Outside their Home Market NYSE Nasdaq LSE Number of Latin American Companies Number of Latin American listings Since * 1 0 Number of Latin American IPOs Since Latin American IPO Proceeds Since 2004 More than $4 billion Less than $500 million 0 Average Daily Trading Value in Latin American Companies $2.2 billion $35.8 million Less than $1m Source: FactSet Systems, Inc.; NYSE Research through June 2007 Includes Cosan s announced intention to list on the NYSE. *2 UK incorporated, Latin American-based companies (Hochschild Mining, PLC, Antofogasta, PLC) not accounted for in this figure; Mirgor (0 shares/day), Banco de Chile (51 shares/day) are the companies that have been included.

13 NYSE Value Proposition

14 Value Proposition The NYSE Group s value proposition for listing on the NYSE is founded on superior market quality, global brand visibility, and a rich portfolio of services. Enhanced Liquidity Maximizes Valuation Global Brand Awareness Valuable Shareholder Management Tools / Service Portfolio

15 U.S. Investor Holdings of Non-U.S. Equities 1990 Q $billions U.S. Holdings of non-u.s. Equities (left scale) % of all equity holdings (right scale) percent 27% 22% 17% 12% % Q % Source: Federal Reserve Flow of Funds

16 A NYSE Listing Boosts Global Liquidity C NYSE listing for Brazilian companies is a win-win providing liquidity and a broader shareholder base $3,000,000,000 $2,500,000,000 $2,000,000,000 $1,500,000,000 $1,000,000,000 $500,000,000 $ H07 Average Daily Value NYSE Average Daily Value HOME MARKET Source: NYSE Research Source: NYSE Research

17 Global Visibility Ternium S.A. Cosan Ltd. Banco Macro Bansud, S.A. Gafisa S.A. Empresa Distribuidora y Comercializadora Norte S.A. February 1, 2006 Ternium S.A. (NYSE- Listed TX) visits the NYSE to celebrate its initial public offering. In honor of the occasion, Chairman Paolo Rocca rings The Opening Bell. August 17, 2007 Cosan Limited (NYSE- Listed CZZ) visits the NYSE to celebrate its initial public offering. In honor of the occasion, CEO Rubens Ometto Silveira Mello rings The Closing Bell SM. March 30, 2006 Banco Macro Bansud, S.A. (NYSE-listed BMA) visits the NYSE to celebrate the company's initial public offering on March 24, In honor of the occasion, Banco Macro Chairman and CEO, Jorge Horacio Brito, rings The Opening Bell. March 13, 2007 Gafisa S.A. (NYSE-Listed GFA) visits the NYSE to celebrate its initial public offering. In honor of the occasion, CEO Wilson Amaral de Oliveira rings The Opening Bell SM. April 27, 2007 Empresa Distribuidora y Comercializadora Norte, S.A. Edenor (NYSE-Listed EDN) visits the NYSE to celebrate the company's April 26, 2007 initial public offering. In honor of the occasion, Chairman and CEO Alejandro Macfarlane rings The Opening Bell SM.