NYSE Euronext Announces Fourth Quarter and Full-Year 2012 Financial Results

  NYSE Euronext Announces Fourth Quarter and Full-Year 2012 Financial Results      -- Fourth Quarter GAAP Diluted EPS of $0.12 vs. $0.43 in Prior Year --    -- Non-GAAP Diluted EPS of $0.43 vs. $0.50 Excluding Merger Expenses, Exit                       Costs and Other Discrete Items --         -- Global Leader in IPOs in 2012 for Second Consecutive Year --   -- Announced Acquisition by ICE Presents Opportunity to Create Global Player                         and Risk Management Leader --     -- Separate Clearing Agreement with ICE Designed to Ease Transition for                                   Clients --            -- $115 Million in Project 14 Savings Achieved in 2012 --  Financial and Operating Highlights^1, 2    *Diluted EPS of $0.43, down from $0.50 in 4Q11   *Net revenue of $562 million, down 11%, including $4 million negative FX     impact   *Fixed operating expenses of $392 million, down 9% on a constant dollar /     portfolio basis   *Operating income of $170 million, down 20%, including $3 million negative     FX impact   *Repurchased 1.1 million shares at average price of $24.67 in 4Q12 and 17.0     million shares in FY 2012   *Board declares first quarter 2013 cash dividend of $0.30 per share  ^1 All comparisons versus 4Q11 unless otherwise stated. Excludes merger expenses, exit costs and other discrete 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.  Business Wire  NEW YORK -- February 5, 2013  NYSE Euronext (NYX) today reported net income of $28 million, or $0.12 per diluted share, for the fourth quarter of 2012, compared to net income of $110 million, or $0.43 per diluted share, for the fourth quarter of 2011. Financial results for the fourth quarter of 2012 included a higher level of merger and exit costs, reflecting a write-off of clearing investments in connection with the decision to move to ICE Clear, the unwind of BlueNext and merger related expenses. Fourth quarter of 2012 financial results also included costs of $24 million, consisting primarily of the premium paid to former bondholders, to refinance a portion of company debt outstanding. Excluding the impact of these items, net income in the fourth quarter of 2012 was $105 million, or $0.43 per diluted share, compared to $130 million, or $0.50 per diluted share, in the fourth quarter of 2011. For the full-year 2012, excluding the discrete items noted in the tables accompanying this press release, net income was $462 million, or $1.84 per diluted share, compared to net income of $653 million, or $2.48 per diluted share for full-year 2011. Financial results for the full-year 2011 benefited from extreme levels of volatility in the third quarter which drove strong trading volumes across all trading venues, setting new quarterly records for orders and executions. Since the third quarter of 2011 and through 2012, market volatility declined to multi-year lows, driving significant declines in trading volumes.  “Our fourth quarter results reflect both the beneficial actions we took to refinance our debt and rationalize our clearing plans for Liffe in connection with the announced move to ICE Clear,” said Duncan L. Niederauer, CEO, NYSE Euronext. “Along with the continued progress we are making on reducing expenses as part of Project 14, we are focused on building momentum in our business prior to closing the deal with ICE, which we expect to close in the second half of this year. We believe that combining our highly complementary businesses will create a global exchange player with a particularly compelling and diverse global derivatives franchise, and an ‘end-to-end’ multi-asset business that would be very well positioned to compete and serve a global client base, while creating meaningful value for shareholders.”  The table below summarizes the financial results^1 for the fourth quarter and full-year of 2012:                                               % Δ                          % Δ                                          4Q12   Full-Year          FY                                                                           '12 ($ in millions,                              vs.                          vs. except EPS)        4Q12   3Q12   4Q11    4Q11    2012       2011    FY                                                                           '11 Total Revenues^2    $909    $902    $1,054   (14%)   $3,749      $4,552   (18%) Total Revenues, Less                562     559     628      (11%)   2,324       2,672    (13%) Transaction-Based Expenses^3 Other Operating     392     388     416      (6%)    1,581       1,666    (5%) Expenses ^4 Operating Income    $170    $171    $212     (20%)   $743        $1,006   (26%) ^4 Net Income^4        $105    $108    $130     (19%)   $462        $653     (29%) Diluted Earnings   $0.43  $0.44  $0.50   (14%)   $1.84      $2.48   (26%) Per Share^4 Operating Margin    30%     31%     34%      (4      32%         38%      (6                                              ppts)                        ppts) Adjusted EBITDA    42%    42%    45%     (3      43%        48%     (5 Margin                                       ppts)                        ppts)       A full reconciliation of our non-GAAP results to our GAAP results is ^1  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 the BlueNext tax settlement.        “Our fourth quarter results were in line with the third quarter, but trailed prior year. The impact of lackluster trading volumes was somewhat mitigated by lower costs and lower share count. Operating expenses declined $24 million, or 6% in the fourth quarter and for the full-year 2012, excluding the impact of currency fluctuations and new business initiatives, core operating expenses were down $115 million from the 2011 expense base of $1,666 million, which far exceeded the initial guidance of $63 million in Project 14 savings,” commented Michael S. Geltzeiler, Group Executive Vice President and CFO, NYSE Euronext. “Furthermore, we are continuing to deliver on our commitment to optimize the business portfolio with the un-wind of BlueNext, the planned sale of all or part of our MCX stake and our decision to move to ICE Clear, which will increase savings and reduce investment costs in 2013.”  FOURTH QUARTER & FULL-YEAR 2012 CONSOLIDATED RESULTS  Total revenues, less transaction-based expenses, which include Section 31 fees, liquidity payments and routing and clearing fees (net revenue), were $562 million in the fourth quarter of 2012, down $66 million, or 11% compared to the fourth quarter of 2011 and included a $4 million negative impact from foreign currency fluctuations. The $62 million decrease in net revenue, on a constant currency basis, compared to the fourth quarter of 2011 was primarily driven by lower average daily volumes (“ADV”), mostly attributable to the derivatives business. For the full-year 2012, net revenue was $2,324 million, a decrease of $348 million, or 13% compared to $2,672 million for full-year 2011 and included a $55 million negative impact from foreign currency fluctuations. The $293 million decrease in net revenue, on a constant currency basis, compared to full-year 2011 was driven primarily by lower ADV, mostly attributable to the derivatives business.  Operating expenses, excluding merger expenses, exit costs and the BlueNext tax settlement were $392 million in the fourth quarter of 2012, down $24 million, or 6% compared to the fourth quarter of 2011. Excluding the impact of new business initiatives and a $1 million positive impact attributable to foreign currency fluctuations, other operating expenses were down $36 million, or 9%, compared to the fourth quarter of 2011. For the full-year 2012, other operating expenses on the same basis were $1,581 million compared to $1,666 million in 2011. Excluding the impact of acquisitions, new initiatives and a $27 million positive impact attributable to foreign currency fluctuations, other operating expenses were down 6% compared to full-year 2011.  For the full-year 2012, Project 14 savings were $115 million, which represents 46% of the total $250 million expected to be saved by the end of 2014, running well above the 25%, or $63 million, originally expected for full-year 2012.  Operating income, excluding merger expenses, exit costs and the BlueNext tax settlement, was $170 million, down $42 million, or 20% compared to the fourth quarter of 2011 and included a $3 million negative impact attributable to foreign currency fluctuations. For the full-year 2012, operating income on the same basis was $743 million, a decrease of $263 million, or 26% compared to $1,006 million for full-year 2011 and included a $28 million negative impact attributable to foreign currency fluctuations.  Adjusted EBITDA, excluding merger expenses, exit costs and the BlueNext tax settlement, was $234 million, down $46 million, or 16% compared to the fourth quarter of 2011. Adjusted EBITDA margin was 42% in the fourth quarter of 2012, compared to 45% in the fourth quarter of 2011. For the full-year 2012, adjusted EBITDA on the same basis was $1,003 million, compared to $1,286 million for full-year 2011 representing a decrease of $283 million, or 22%. Adjusted EBITDA margin for the full-year 2012 was 43% compared to 48% in 2011.  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 fourth quarter and full-year 2012, excluding merger expenses, exit costs, direct costs of refinancing and discrete tax items, was 24% compared to approximately 26% for the fourth quarter and full-year 2011 excluding the same items and the BlueNext tax settlement.  The weighted average diluted shares outstanding in the fourth quarter of 2012 was 244 million, down from 262 million in fourth quarter of 2011. During the fourth quarter of 2012, a total of 1.1 million shares were repurchased at an average price of $24.67 per share and for the full-year 2012, a total of 17.0 million shares were repurchased at an average price of $26.55.  At December 31, 2012, total debt was $2.5 billion. Total debt includes $0.4 billion remaining from the 4.8% June 2013 notes which we expect to retire in the second quarter of 2013. Cash, cash equivalents and short term financial investments (including $99 million related to Section 31 fees collected from market participants and due to the SEC) were $0.4 billion and net debt was $2.1 billion at the end of the fourth quarter of 2012. The ratio of debt-to-EBITDA at the end of the fourth quarter of 2012 was 2.5.  On October 5, 2012, NYSE Euronext closed on its public offering of $850 million 2.00% notes due in October 2017. The proceeds from this offering were used to fund the tender of $336 million of our outstanding $750 million 4.80% notes due in June 2013 and €80 million of our €1 billion 5.375% notes due in June 2015 and for other general corporate purposes, including the reduction in outstanding commercial paper. As a result of the refinancing, recurring interest expense declined by approximately $1 million in the fourth quarter of 2012.  Total capital expenditures were $66 million in the fourth quarter of 2012 and $191 million for the full-year 2012.  Headcount as of December 31, 2012 of 3,079 was slightly above year-end 2011 with the addition of 99 employees from the acquisition of Corpedia in June of 2012 and increased staff for the UK derivatives clearing initiative.  The Board of Directors declared a cash dividend of $0.30 per share for the first quarter of 2013. The first quarter 2013 dividend is payable on March 28, 2013 to shareholders of record as of the close of business on March 14, 2013. The anticipated ex-date will be March 12, 2013.  FULL-YEAR 2013 GUIDANCE (NON-GAAP)  For the full-year 2013, management is providing the following guidance:    *We are guiding total operating expenses to decline to approximately $1,525     million on a reported basis at constant currency rates. When compared to     Project 14 goals and the 2011 expense base of $1,666 million, we expect     core operating expenses, on a constant currency basis and excluding     discrete investments, to be approximately $1,465 million, which is about     $200 million below the 2011 base.   *The debt refinancing in the fourth quarter of 2012, is expected to save an     annualized $15 million and $24 million in interest expense in 2013 and     2014, respectively.   *The anticipated effective tax rate is expected to be between 24% and 25%.   *The ratio of debt-to-EBITDA is expected to be at, or below 2.0X in 2013,     declining from 2.5X in 2012.   *Total capital expenditures are expected to be approximately $150 million.  FOURTH QUARTER & FULL-YEAR 2012 SEGMENT RESULTS  Below is a summary of business segment results:             Derivatives                       Cash Trading & Listings           Info. Svcs. & Tech. Solutions ($ in       Net        Operating  Adjusted   Net        Operating  Adjusted            Operating  Adjusted millions)            Revenue^1  Income^2   EBITDA^2   Revenue^1  Income^2   EBITDA^2   Revenue  Income^2   EBITDA^2 4Q12        $160        $63         $72        $282        $100        $141       $120      $35         $49 3Q12        $164        $68         $78        $282        $104        $145       $113      $23         $36 4Q11        $186       $86        $96        $315       $125       $168       $127     $31        $46 FY 2012     $682        $295        $334       $1,168      $450        $617       $473      $113        $167 FY 2011     $861       $473       $523       $1,323     $533       $715       $490     $126       $174       Net revenue defined as total revenues less transaction-based expenses ^1  including Section 31 fees, liquidity payments and routing & clearing      fees. ^2   Excludes merger expenses, exit costs and the BlueNext tax settlement.        DERIVATIVES  Derivatives net revenue of $160 million in the fourth quarter of 2012 decreased $26 million, or 14% compared to the fourth quarter of 2011 and included a $1 million positive impact from foreign currency fluctuations. The $27 million decrease in derivatives net revenue, on a constant currency basis, compared to the fourth quarter of 2011, was driven by lower ADV. For the full-year 2012, Derivatives net revenue of $682 million decreased $179 million, or 21%, and included a $12 million negative impact from foreign currency fluctuations. The $167 million decrease in net revenue, on a constant currency basis, compared to full-year 2011 was driven by a decline in ADV.    *IntercontinentalExchange and NYSE Euronext announced that ICE Clear Europe     Limited and LIFFE Administration and Management have entered into a     clearing services agreement pursuant to which ICE Clear Europe will     provide clearing services to the London market of NYSE Liffe.   *İstanbul Menkul Kıymetler Borsası (IMKB) and NYSE Liffe, announced the     launch of futures and options contracts based on some of the constituents     of the IMKB 30 Index.   *NYSE Liffe announced the expansion of Bclear, NYSE Liffe’s trade     confirmation, administration and clearing service, with the introduction     of Fixed Income products. The new contracts available through Bclear will     be Three Month Euro (Euribor) Futures, Three Month Sterling (Short     Sterling) Futures and Long Gilt Futures.   *In 2012, NYSE Amex Options and NYSE Arca Options reached their highest     combined market share of 28.5% in October, retaining the #1 or #2 position     in U.S. equity options.   *The new NYSE Liffe U.S. futures contracts based on the DTCC GCF Repo     Index® were named ‘New Contract of the Year’ in Interest Rates by Futures     and Options Week (FOW) Magazine at the 2012 FOW International Awards in     London. Since launch in mid-July 2012, NYSE Liffe U.S. has traded more     than 375,000 total contracts valued at nearly $2 trillion as of December     17. Momentum continues to grow for GCF Repo futures with a new daily     volume record set on January 18^th of 17,556 lots traded.  CASH TRADING AND LISTINGS  Cash Trading and Listings net revenue of $282 million in the fourth quarter of 2012 decreased $33 million, or 10% compared to the fourth quarter of 2011 and included a $3 million negative impact from foreign currency fluctuations. The $30 million decrease in net revenue, on a constant currency basis, compared to the fourth quarter of 2011 was primarily driven by lower ADV. For the full-year 2012, Cash Trading and Listings net revenue of $1,168 million decreased $155 million, or 12%, and included a $29 million negative impact from foreign currency fluctuations. The $126 million decrease in net revenue, on a constant currency basis, compared to full-year 2011 was driven primarily by a decline in ADV.    *NYSE Euronext was ranked #1 in initial public offerings (IPOs) globally     for the second consecutive year. NYSE Euronext raised $37 billion in total     global proceeds on 120 IPOs. In the U.S., NYSE Euronext led the market     with 79 IPOs and 17 transfers. NYSE Euronext has steadily captured share     in technology-basedIPOs. NYSE Euronext listed 53% of the technology IPOs     in the U.S., including Exact Target Inc. (NYSE: ET), Millennial Media Inc.     (NYSE: MM), Palo Alto Networks (NYSE:PANW), Service Now Inc (NYSE: NOW),     Workday (NYSE: WDAY) and Yelp Inc. (NYSE: YELP).   *In 2012, 17 companies moved or announced transfer to NYSE Euronext’s U.S.     markets (15 to NYSE, 2 to NYSE MKT) with six departures from the NYSE and     three from NYSE MKT. Of the 15 companies that moved or announced transfer     to the NYSE in 2012, three were among the top 100 largest companies by     market capitalization listed on Nasdaq - Infosys Ltd. (NYSE: INFY), TD     Ameritrade Holding Corporation (NYSE: AMTD) and Teva Pharmaceutical     Industries Ltd. (NYSE: TEVA). Both Teva and Infosys were previously in the     Nasdaq-100 Index.   *In 2012, NYSE Euronext welcomed 25 listings in Europe from a variety of     sectors including healthcare, consumer goods, technology and     telecommunications, raising total IPO proceeds of €2.7 billion ($3.5     billion) and representing an aggregate market capitalization of €22.8     billion ($30 billion). Key listings on NYSE Euronext's European platforms     included: Ziggo (Euronext: ZIGGO), the Dutch cable operator launched NYSE     Euronext's largest European IPO in 2012 on NYSE Euronext in Amsterdam,     D.E. Masterblenders 1753 (Euronext: DE), the spin-off from ex-Sara Lee     Corp, also listed on NYSE Euronext in Amsterdam; Groupe Eurotunnel     (Euronext: GET), the first company to be admitted to trading on NYSE     Euronext in London and BTG Pactual (Alternext: BTGP), Brazil's largest     investment bank listed on NYSE Alternext in Amsterdam.   *LCH.Clearnet SA, the Paris-based clearing house of LCH.Clearnet Group, and     NYSE Euronext jointly announced an agreement on the main terms and     conditions of a six year clearing contract with respect to NYSE Euronext’s     continental cash equities markets. The new agreement commenced on January     1, 2013 and will run through 2018. Under the new contract, LCH.Clearnet SA     has further reduced clearing fees for clearing members by 20%.   *European cash market share (value traded) in NYSE Euronext’s four core     markets was 66% in the fourth quarter of 2012, in-line with the fourth     quarter of 2011, but down from 68% in the third quarter of 2012.  INFORMATION SERVICES AND TECHNOLOGY SOLUTIONS  Information Services and Technology Solutions revenue was $120 million in the fourth quarter of 2012, a decrease of $7 million, or 6% compared to the fourth quarter of 2011 and included a $2 million negative impact from foreign currency fluctuations. Revenue in the fourth quarter of 2012, however, increased $7 million, or 7% compared to the third quarter of 2012 which included a $2 million positive impact from foreign currency fluctuations. Operating margin for the fourth quarter of 2012 returned to 29% from 20% in the third quarter of 2012 and 24% in the fourth quarter of 2011. For the full-year 2012, Information Services and Technology Solutions revenue of $473 million decreased $17 million, or 3%, and included a $14 million negative impact from foreign currency fluctuations. The $3 million decrease in revenue, on a constant currency basis, compared to full-year 2011 was driven by the challenging environment for financial services technology sales which has delayed client decisions on purchases of software and connectivity services. Highlights for the fourth quarter of 2012 included:    *Russell Indexes, a leading global index provider and NYSE Euronext, one of     the world's premier exchange operators and technology innovators,     announced a global alliance which includes the transition of RussellTick,     an index feed for real-time, intra-day values for the Russell family of     indexes in the U.S. and globally, to NYSE Technologies' Global Index Feed     (GIF) protocol and extensive global distribution. The migration of     RussellTick to NYSE Technologies' GIF protocol makes Russell the first     major index family distributed through the global Secure Financial     Transaction Infrastructure® (SFTI®) network. The alliance also includes a     commitment to develop additional joint global services and products, such     as new index-based options. Approximately $3.9 trillion in assets are     currently benchmarked to the Russell Indexes globally.   *Americas Trading Group (ATG) announced the formation of a new company that     will develop a liquidity center targeting the Brazilian exchange market     called Americas Trading System Brasil, or ATS Brasil. Utilizing trading     solutions developed by NYSE Technologies, the technology unit of NYSE     Euronext, ATS Brasil will offer customers a new equities matching platform     in Latin America. ATG will maintain the controlling interest as well as     operational management of the company with NYSE Technologies as a minority     shareholder and the core technology provider.   *NYSE Technologies announced the continued expansion of its Secure     Financial Transaction Infrastructure (SFTI) in Asia with the introduction     of two access centers located in Hong Kong. Customers now, for the first     time, have direct access to the SFTI network, allowing them to connect to     the NYSE Euronext capital markets community and all other major     international trading venues.   *NYSE Technologies announced the launch of the OpenMAMA Enterprise Edition     as a part of its Open Platform. The OpenMAMA Enterprise Edition is a     commercial offering that is a fully supported, tested and certified     distribution of the industry standard Open Source Middleware Agnostic     Messaging API (OpenMAMA1). It provides an open, vendor-neutral integration     layer for a variety of middleware systems, including NYSE Technologies     Data FabricSM.   *NYSE Technologies announced the addition of the Appia Business Center, a     management interface that allows front-end users to configure FIX     infrastructure without special coding, to its FIX capabilities. With the     new Appia Business Center, business users can build, maintain, and monitor     their FIX infrastructure without the help of specialists to on-board new     clients, communicate with new matching engines, or implement new rules.  The accompanying tables include information integral to assessing the Company’s financial performance.  Analyst / Investor / Media Call: February 5, 2013 at 8:00 a.m. (NY / ET) / 2:00 p.m. (Paris / CET)  A presentation and live audio webcast of the fourth quarter and full-year 2012 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: 866.203.2528 International: 617.213.8847 Passcode: 11676007  Replay Dial-in Information: United States: 888.286.8010 International: 617.801.6888 Passcode: 41798941   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 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.  NYSE Euronext Earnings News Release with Tables and Operating Data  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 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 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 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 inability to complete the merger due to the failure of NYSE Euronext stockholders to adopt the merger agreement or the failure of ICE stockholders to approve the issuance of ICE common stock in connection with the merger; 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 will be described in the section entitled “Risk Factors” in the joint proxy statement/prospectus to be delivered to ICE’s and NYSE Euronext’s respective shareholders, 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 December31, 2011, as filed with the SEC on February8, 2012, and ICE’s Quarterly Reports on Form 10-Q for the quarters ended June30, 2012, as filed with the SEC on August1, 2012, and September30, 2012, as filed with the SEC on November5, 2012, and “Risk Factors” in NYSE Euronext’s Form 10-K for the fiscal year ended December31, 2011, as filed with the SEC on February29, 2012, and NYSE Euronext’s Quarterly Reports on Form 10-Q for the quarters ended March31, 2012, as filed with the SEC on May4, 2012, and September30, 2012, as filed with the SEC on November8, 2012. You should not place undue reliance on forward-looking statements, which speak only as of the date of this communication. Except for any obligations to disclose material information under the Federal securities laws, NYSE Euronext undertakes no obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this 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 has filed with the SEC a registration statement on Form S-4, which includes a joint proxy statement/prospectus with respect to the proposed acquisition of NYSE Euronext. The final joint proxy statement/prospectus will be 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 WILL CONTAIN 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  PARTICIPANTS IN THE MERGER SOLICITATION  ICE, NYSE Euronext and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the transactions contemplated by the Merger Agreement.  You can find information about ICE and ICE’s directors and executive officers in ICE’s Annual Report on Form 10-K for the year ended December31, 2011, as filed with the SEC on February8, 2012, and ICE’s proxy statement for its 2012 annual meeting of stockholders, as filed with the SEC on March30, 2012.  You can find information about NYSE Euronext and NYSE Euronext’s directors and executive officers in NYSE Euronext’s Annual Report on Form 10-K for the year ended December31, 2011, as filed with the SEC on February29, 2012, and NYSE Euronext’s proxy statement for its 2012 annual meeting of stockholders, filed with the SEC on March26, 2012.  Additional information about the interests of potential participants will be included in the joint proxy statement/prospectuses, when it becomes available, and the other relevant documents filed by ICE and NYSE Euronext with the SEC.   NYSE Euronext Condensed consolidated statements of income (unaudited) (in millions, except per share data)                                                                                 Three months ended                    Year ended Dec. 31,                    Dec. 31,    Sept.     Dec. 31,       2012     2011                      2012         30, 2012   2011                                           Revenues Transaction and    $  565       $ 570      $ 701         $ 2,393     $ 3,162 clearing fees Market data           85          85         90            348         371 Listing               114         112        112           448         446 Technology            87          81         95            341         358 services Other revenues       58        54       56          219       215    Total revenues        909         902        1,054         3,749       4,552 Transaction-based expenses: Section 31 fees       75          74         84            301         371 Liquidity payments, routing    272       269      342         1,124     1,509  and clearing Total revenues, less                 562       559      628         2,324     2,672  transaction-based expenses Other operating expenses Compensation          144         145        159           601         638 Depreciation and      64          64         68            260         280 amortization Systems and           43          44         45            176         188 communications Professional          81          76         80            299         299 services Selling, general      60          59         106           245         303 and administrative Merger expenses      73        18       46          134       114    and exit costs Total other          465       406      504         1,715     1,822  operating expenses                                                                       Operating income      97          153        124           609         850 Net interest and investment income     (52   )     (28  )     (28   )       (136  )     (116  ) (loss) Loss from             (3    )     (2   )     (4    )       (8    )     (9    ) associates Net loss on disposal              -           -          -             (2    )     - activities Other income         3         1        -           7         -      (loss) Income before         45          124        92            470         725 income taxes Income tax (provision)          (14   )    (12  )    4           (105  )    (122  ) benefit Net income            31          112        96            365         603 Net (income) loss attributable to      (3    )    (4   )    14          (17   )    16     noncontrolling interest Net income attributable to    $  28       $ 108     $ 110        $ 348      $ 619    NYSE Euronext                                                                       Basic earnings per share attributable $  0.12      $ 0.44     $ 0.43        $ 1.39      $ 2.37 to NYSE Euronext                                                                       Diluted earnings per share          $  0.12      $ 0.44     $ 0.43        $ 1.39      $ 2.36 attributable to NYSE Euronext                                                                       Basic weighted average shares        243         246        260           250         261 outstanding Diluted weighted average shares       244      247     262         250      263    outstanding                                                                                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                      Year ended Dec. 31, Non-GAAP         Dec. 31,     Sept. 30,    Dec. 31,       2012    2011  Reconciliation   2012          2012          2011                                                                        Income (loss) before income    $  45         $  124        $  92         $ 470      $ 725 taxes - GAAP Excluding: Merger expenses     73            18            46           134        114 and exit costs Debt refinancing    24            -             -            24         - costs BlueNext tax        -             -             42           -          42 settlement Net loss on disposal           -           -           -          2        -     activities Income before income taxes -      142           142           180          630        881 as adjusted Income tax         (34   )      (30   )      (47  )      (151 )    (227 ) provision Net income - as     108           112           133          479        654 adjusted Net (income) loss attributable to     (3    )       (4    )       14           (17  )     16 noncontrolling interest Excluding: Noncontrolling interest impact    -           -           (17  )      -        (17  ) on BlueNext tax settlement Net income attributable to  $  105       $  108       $  130       $ 462     $ 653   NYSE Euronext - as adjusted                                                                        Diluted earnings per share        $  0.43      $  0.44      $  0.50      $ 1.84    $ 2.48  attributable to NYSE Euronext                                                                                 NYSE Euronext Segment Results (unaudited) (in millions)                                                                                                                                                          Three months ended                                                      Three months ended                       December 31, 2012                                                       December 31, 2011                                               Information                                                        Information                                                                Services      Corporate                                     Cash        Services                                                       and                                                                     and                                     Cash        Technology    and                                           Trading     Technology    Corporate                                     Trading                                                                 and                       and                       Derivatives   and         Solutions     Eliminations   Consolidated     Derivatives   Listings    Solutions     Eliminations   Consolidated                                     Listings                                                                                                                                                       Revenues Transaction and       $   198       $ 367       $   -         $   -          $  565           $  221        $ 480       $   -         $   -          $  701 clearing fees Market data               10          42            33            -             85               13           46            31            -             90 Listing                   -           114           -             -             114              -            112           -             -             112 Technology                -           -             87            -             87               -            -             96            (1    )       95 services Other revenues           13        45          -           -           58             10         45          -           1           56      Total revenues            221         568           120           -             909              244          683           127           -             1,054 Transaction-based expenses: Section 31 fees           -           75            -             -             75               -            84            -             -             84 Liquidity payments, routing        61        211         -           -           272            58         284         -           -           342     and clearing Total revenues, less transaction-based         160         282           120           -             562              186          315           127           -             628 expenses Depreciation and  [a]     9           41            14            -             64               10           43            15            -             68 amortization BlueNext tax      [b]     -           -             -             -             -                -            42            -             -             42 settlement Merger expenses and exit costs    [c]     12          13            6             42            73               -            8             -             38            46 (M&E) Other operating          88        141         71          28          328            90         147         81          30          348     expenses Operating income  [d] $   51       $ 87       $   29       $   (70   )    $  97           $  86        $ 75       $   31       $   (68   )    $  124     - GAAP                   [d] Operating income  + excluding M&E     [c] $   63       $ 100      $   35       $   (28   )    $  170          $  86        $ 125      $   31       $   (30   )    $  212                       +                   [b]                   [d]                   +                   [c] Adjusted EBITDA   +   $   72      $ 141     $   49      $   (28   )   $  234          $  96       $ 168     $   46      $   (30   )   $  280                       [b]                   +                   [a]                                                                                                                                                       Operating margin excluding M&E &           39   %      35    %       29   %        N/M           30     %         46     %     40    %       24   %        N/M           34     % BlueNext tax settlement Adjusted EBITDA           45   %      50    %       41   %        N/M           42     %         52     %     53    %       36   %        N/M           45     % margin                                                                                                                                                                                                                                                                                                                  Year ended                                                              Year ended                       December 31, 2012                                                       December 31, 2011                                                 Information                                                            Information                                                 Services      Corporate                                     Cash        Services                                                 and                                                                     and                                     Cash        Technology    and                                           Trading     Technology    Corporate                                     Trading                                                                 and                       and                       Derivatives   and         Solutions     Eliminations   Consolidated     Derivatives   Listings    Solutions     Eliminations   Consolidated                                     Listings                                                                                                                                                       Revenues Transaction and       $   821       $ 1,572     $   -         $   -          $  2,393         $  1,046      $ 2,116     $   -         $   -          $  3,162 clearing fees Market data               43          173           132           -             348              48           193           130           -             371 Listing                   -           448           -             -             448              -            446           -             -             446 Technology                -           -             341           -             341              -            -             360           (2    )       358 services Other revenues           46        172         -           1           219            41         174         -           -           215     Total revenues            910         2,365         473           1             3,749            1,135        2,929         490           (2    )       4,552 Transaction-based expenses: Section 31 fees           -           301           -             -             301              -            371           -            -             371 Liquidity payments, routing        228       896         -           -           1,124          274        1,235       -           -           1,509   and clearing Total revenues, less transaction-based         682         1,168         473           1             2,324            861          1,323         490           (2    )       2,672 expenses Depreciation and  [a]     39          167           54            -             260              50           182           48            -             280 amortization BlueNext tax      [b]     -           -             -             -             -                -            42            -             -             42 settlement Merger expenses and exit costs    [c]     33          28            18            55            134              3            19            4             88            114 (M&E) Other operating          348       551         306         116         1,321          338        608         316         124         1,386   expenses Operating income  [d] $   262      $ 422      $   95       $   (170  )    $  609          $  470       $ 472      $   122      $   (214  )    $  850     - GAAP                   [d] Operating income  + excluding M&E     [c] $   295      $ 450      $   113      $   (115  )    $  743          $  473       $ 533      $   126      $   (126  )    $  1,006                     +                   [b]                   [d]                   +                   [c] Adjusted EBITDA   +   $   334     $ 617     $   167     $   (115  )   $  1,003        $  523      $ 715     $   174     $   (126  )   $  1,286                     [b]                   +                   [a]                                                                                                                                                       Operating margin excluding M&E &           43   %      39    %       24   %        N/M           32     %         55     %     40    %       26   %        N/M           38     % BlueNext tax settlement Adjusted EBITDA           49   %      53    %       35   %        N/M           43     %         61     %     54    %       36   %        N/M           48     % margin                                                                                                                                                                                           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 N/M = Not meaningful     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      $ 465 ended December 31, 2012 - GAAP Less: Merger expenses and exit costs                      (73   )                                                    $ 392 Excluding the impact of: Currency translation                                 1 New business initiatives                             (13   )                                                     Fixed operating expenses for the three months      $ 380      [a] ended December 31, 2012 - as adjusted                                                                 Fixed operating expenses for the three months      $ 504 ended December 31, 2011 - GAAP Less: Merger expenses and exit costs                       (46   ) BlueNext tax settlement                             (42   )                                                    $ 416      [b]                                                                 Variance ($)                                       $ (36   )   [a] - [b] = [c] Variance (%)                                        -9    %   [c] / [b]                                                                                                                                 Fixed operating expenses for the year ended        $ 1,715 December 31, 2012 - GAAP Less: Merger expenses and exit costs                      (134  )                                                    $ 1,581 Excluding the impact of: Currency translation                                 27 New business initiatives                             (42   )                                                     Fixed operating expenses for the year ended        $ 1,566    [a] December 31, 2012 - as adjusted                                                                 Fixed operating expenses for the year ended        $ 1,822 December 31, 2011 - GAAP Less: Merger expenses and exit costs                       (114  ) BlueNext tax settlement                             (42   )                                                    $ 1,666    [b]                                                                 Variance ($)                                       $ (100  )   [a] - [b] = [c] Variance (%)                                        -6    %   [c] / [b]                                                                                                                                 Expense Base Development Versus Project 14 Cost Savings Plan                                                                 Fixed operating expenses for the year ended        $ 1,715 December 31, 2012 - GAAP Less: Merger expenses and exit costs                       (134  ) New business initiatives                             (44   ) Currency translation^(1)                            14     Fixed operating expenses for the year ended        $ 1,551    [a] December 31, 2012 - as adjusted                                                                 Fixed operating expenses for the year ended        $ 1,822 December 31, 2011 - GAAP Less: Merger expenses and exit costs                       (114  ) BlueNext tax settlement                             (42   ) Fixed operating expenses for the year ended        $ 1,666    [b] December 31, 2011 - as adjusted                                                                                                                                 Year to Date Project 14 Cost Savings - ($)         $ 115      [b]-[a] = [c]                                                                 Year to Date Project 14 Cost Savings - (%)          7     %   [c] / [b]                                                                 Project 14 Cost Savings to date as % of total       46    % $250 million plan                                                                  (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.              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 Condensed consolidated statements of financial condition (unaudited) (in millions)                                                                                                                            December 31,                                                          2012       2011                                                                        Assets Current assets: Cash, cash equivalents, and short term financial         $ 380        $ 432 investments Accounts receivable, net                                   405          497 Deferred income taxes                                      67           108 Other current assets                                      156         152 Total current assets                                       1,008        1,189                                                                        Property and equipment, net                                948          963 Goodwill                                                   4,163        4,027 Other intangible assets, net                               5,783        5,697 Deferred income taxes                                      74           594 Other assets                                              580         637 Total assets                                             $ 12,556     $ 13,107                                                                        Liabilities and equity Accounts payable and accrued expenses                    $ 824        $ 992 Deferred revenue                                           138          130 Short term debt                                            454          39 Deferred income taxes                                     -           23 Total current liabilities                                  1,416        1,184                                                                        Long term debt                                             2,055        2,036 Deferred income taxes                                      1,435        1,900 Accrued employee benefits                                  602          620 Deferred revenue                                           378          371 Other liabilities                                         27          63 Total liabilities                                         5,913       6,174                                                                        Redeemable noncontrolling interest                        274         295                                                                        Equity                                                     6,369        6,638                                                                       Total liabilities and equity                             $ 12,556     $ 13,107                                                                                                                                                                                                                                                                     NYSE Euronext Selected Statistical Data: Volume Summary                                                                                                                                                                                                                                 Average Daily Volume                                         Total Volume                                                    Average Daily Volume              Total Volume                                             % ∆                    % ∆                                     % ∆                     % ∆ (Unaudited)       4Q12         3Q12         4Q12      4Q11         4Q12        4Q12          3Q12          4Q12      4Q11          4Q12        FY 2012    FY 2011    % ∆         FY 2012       FY 2011       % ∆                                             vs.                    vs.                                     vs.                     vs.                                             3Q12                   4Q11                                    3Q12                    4Q11                                                                                                                                                                                                               Number of Trading Days -      64           65                     64                       64            65                      64                      256        257                    256           257 European Cash Number of Trading Days -      64           65                     64                       64            65                      64                      257        257                    257           257 European Derivatives Number of Trading Days -      62           63                     63                       62            63                      63                      250        252                    250           252 U.S. Markets                                                                                                                                                                                                               European Derivatives Products            3,534        3,383      4.5   %     3,615      -2.3  %       226,159       219,866     2.9   %     231,383     -2.3  %     3,719      4,469      -16.8 %     955,802       1,148,498     -16.8 % (contracts in thousands) of which Bclear     1,190        829        43.6  %     868        37.1  %       76,142        53,856      41.4  %     55,525      37.1  %     1,103      1,141      -3.3  %     283,554       293,243       -3.3  % Avg. Net Revenue Per       $ 0.673      $ 0.657      2.4   %   $ 0.698      -3.6  %     $ 0.673       $ 0.657       2.4   %   $ 0.698       -3.6  % Contract (ex. Bclear) Avg. Net Revenue Per Contract (ex.     $ 0.673      $ 0.667      0.9   %   $ 0.713      -5.6  %     $ 0.673       $ 0.667       0.9   %   $ 0.713       -5.6  % Bclear) - Currency Neutral                                                                                                                                                                                                               Total Interest      1,562        1,731      -9.8  %     1,802      -13.3 %       99,978        112,531     -11.2 %     115,305     -13.3 %     1,754      2,250      -22.0 %     450,896       578,255       -22.0 % Rate Products^1                                                                                                                                                                                                               Short Term Interest Rate       1,406        1,583      -11.2 %     1,668      -15.7 %       89,977        102,912     -12.6 %     106,737     -15.7 %     1,602      2,111      -24.1 %     411,806       542,541       -24.1 % Products Medium and Long Term Interest       156          148        5.6   %     134        16.7  %       10,001        9,619       4.0   %     8,568       16.7  %     152        139        9.5   %     39,089        35,714        9.5   % Rate Products                                                                                                                                                                                                               Total Equity        1,875        1,551      20.9  %     1,742      7.6   %       120,005       100,803     19.0  %     111,480     7.6   %     1,875      2,138      -12.3 %     481,969       549,513       -12.3 % Products^2                                                                                                                                                                                                               Individual          1,430        1,100      30.0  %     1,215      17.7  %       91,542        71,513      28.0  %     77,775      17.7  %     1,398      1,560      -10.4 %     359,382       401,004       -10.4 % Equity Products Futures             1,049        696        50.6  %     707        48.3  %       67,140        45,265      48.3  %     45,273      48.3  %     959        974        -1.6  %     246,542       250,442       -1.6  % Options             381          404        -5.6  %     508        -24.9 %       24,402        26,248      -7.0  %     32,503      -24.9 %     439        586        -25.1 %     112,841       150,562       -25.1 % Equity Index        445          451        -1.3  %     527        -15.6 %       28,463        29,290      -2.8  %     33,705      -15.6 %     477        578        -17.5 %     122,587       148,509       -17.5 % Products                                                                                                                                                                                                               of which Bclear     1,190        829        43.6  %     868        37.1  %       76,142        53,856      41.4  %     55,525      37.1  %     1,103      1,141      -3.3  %     283,554       293,243       -3.3  % Individual          1,106        754        46.7  %     789        40.2  %       70,803        49,014      44.5  %     50,508      40.2  %     1,027      1,060      -3.1  %     263,840       272,384       -3.1  % Equity Products Futures             1,038        670        54.9  %     698        48.8  %       66,435        43,560      52.5  %     44,658      48.8  %     938        959        -2.2  %     240,967       246,425       -2.2  % Options             68           84         -18.7 %     91         -25.3 %       4,368         5,454       -19.9 %     5,850       -25.3 %     89         101        -11.9 %     22,873        25,959        -11.9 % Equity Index        83           74         12.0  %     78         6.4   %       5,339         4,842       10.3  %     5,017       6.4   %     77         81         -5.5  %     19,714        20,858        -5.5  % Products                                                                                                                                                                                                               Commodity           97           100        -4.0  %     72         34.3  %       6,176         6,532       -5.4  %     4,598       34.3  %     89         81         10.6  %     22,937        20,730        10.6  % Products                                                                                                                                                                                                               U.S. Derivatives Products (contracts in thousands) Avg. Net Revenue Per Contract (ex.     $ 0.142      $ 0.144      -1.4  %   $ 0.148      -4.1  %     $ 0.142       $ 0.144       -1.4  %   $ 0.148       -4.1  % Liffe U.S. volumes)                                                                                                                                                                                                               Equity Options      4,000        3,533      13.2  %     4,286      -6.7  %       248,007       222,578     11.4  %     270,024     -8.2  %     3,893      4,406      -11.6 %     973,140       1,110,193     -12.3 % Contracts^3 Total Consolidated        14,318       13,812     3.7   %     15,497     -7.6  %       887,740       870,150     2.0   %     976,280     -9.1  %     14,727     16,764     -12.2 %     3,681,821     4,224,605     99.8  % Options Contracts                                                                                                                                                                                                               Share of Total Consolidated        27.9   %     25.6   %               27.7   %                 27.9    %     25.6    %               27.7    %               26.4   %   26.3   %               26.4      %   26.3      % Options Contracts                                                                                                                                                                                                               NYSE Liffe U.S.                                                                                                                                                                                                               Futures and Futures Options     55.2         66.4       -16.8 %     91.2       -39.4 %       3,591.0       4,247.6     -15.5 %     5,837.8     -38.5 %     72.7       81.2       -10.4 %     18,769.2      20,937.6      -10.4 % Volume*                                                                                                                                                                                                               European Cash Products            1,179        1,318      -10.6 %     1,585      -25.6 %       75,457        85,695      -11.9 %     101,450     -25.6 %     1,445      1,711      -15.5 %     370,013       439,717       -15.9 % (trades in thousands) Avg. Net Revenue Per       $ 0.583      $ 0.537      8.6   %   $ 0.582      0.2   %     $ 0.583       $ 0.537       8.6   %   $ 0.582       0.2   % Transaction Avg. Net Revenue Per Transaction -     $ 0.583      $ 0.556      4.9   %   $ 0.560      4.1   %     $ 0.583       $ 0.556       4.9   %   $ 0.560       4.1   % Currency Neutral                                                                                                                                                                                                               Equities            1,134        1,272      -10.9 %     1,522      -25.5 %       72,560        82,698      -12.3 %     97,434      -25.5 %     1,396      1,644      -15.1 %     357,365       422,517       -15.4 % Exchange-Traded     12           13         -5.5  %     20         -40.5 %       762           819         -6.9  %     1,281       -40.5 %     13         21         -35.0 %     3,412         5,270         -35.2 % Funds Structured          28           28         -2.3  %     38         -27.4 %       1,760         1,831       -3.8  %     2,426       -27.4 %     31         41         -25.7 %     7,886         10,649        -26.0 % Products Bonds               6            5          9.4   %     5          21.0  %       375           348         7.7   %     309         21.0  %     5          5          5.8   %     1,350         1,281         5.3   %                                                                                                                                                                                                               U.S. Cash Products            1,551        1,583      -2.1  %     2,133      -27.3 %       96,158        99,758      -3.6  %     134,373     -28.4 %     1,685      2,283      -26.2 %     421,338       575,223       -26.8 % (shares in millions) Avg. Net Revenue Per 100   $ 0.0399     $ 0.0401     -0.5  %   $ 0.0394     1.3   %     $ 0.0399      $ 0.0401      -0.5  %   $ 0.0394      1.3   % Shares Handled                                                                                                                                                                                                               NYSE Listed (Tape A) Issues ^4                                                                                                                                                                                                               Handled Volume      1,115        1,134      -1.7  %     1,490      -25.2 %       69,126        71,463      -3.3  %     93,849      -26.3 %     1,207      1,607      -24.9 %     301,769       404,910       -25.5 % ^5 Matched Volume      1,069        1,078      -0.9  %     1,412      -24.3 %       66,250        67,921      -2.5  %     88,942      -25.5 %     1,147      1,523      -24.7 %     286,785       383,863       -25.3 % ^6 Total NYSE Listed              3,405        3,412      -0.2  %     4,172      -18.4 %       211,117       214,981     -1.8  %     262,852     -19.7 %     3,659      4,370      -16.3 %     914,654       1,101,268     -16.9 % Consolidated Volume                                                                                                                                                                                                               Share of Total Consolidated Volume Handled Volume      32.7   %     33.2   %               35.7   %                 32.7    %     33.2    %               35.7    %               33.0   %   36.8   %               33.0      %   36.8      % ^5 Matched Volume      31.4   %     31.6   %               33.8   %                 31.4    %     31.6    %               33.8    %               31.4   %   34.9   %               31.4      %   34.9      % ^6                                                                                                                                                                                                               NYSE Arca, MKT and Regional (Tape B) Listed Issues                                                                                                                                                                                                               Handled Volume      225          222        1.1   %     372        -39.7 %       13,928        14,005      -0.5  %     23,458      -40.6 %     248        381        -35.0 %     61,957        96,040        -35.5 % ^5 Matched Volume      208          202        2.8   %     335        -38.0 %       12,889        12,741      1.2   %     21,120      -39.0 %     225        343        -34.6 %     56,127        86,460        -35.1 % ^6 Total NYSE Arca & NYSE MKT Listed              971          939        3.3   %     1,452      -33.1 %       60,182        59,184      1.7   %     91,461      -34.2 %     1,055      1,474      -28.4 %     263,832       371,409       -29.0 % Consolidated Volume                                                                                                                                                                                                               Share of Total NYSE Arca & NYSE MKT Listed Consolidated Volume Handled Volume      23.1   %     23.7   %               25.6   %                 23.1    %     23.7    %               25.6    %               23.5   %   25.9   %               23.5      %   25.9      % ^5 Matched Volume      21.4   %     21.5   %               23.1   %                 21.4    %     21.5    %               23.1    %               21.3   %   23.3   %               21.3      %   23.3      % ^6                                                                                                                                                                                                               Nasdaq Listed Issues (Tape C)                                                                                                                                                                                                               Handled Volume      211          227        -6.8  %     271        -22.0 %       13,104        14,289      -8.3  %     17,066      -23.2 %     230        295        -21.8 %     57,612        74,274        -22.4 % ^5 Matched Volume      189          196        -3.8  %     234        -19.4 %       11,688        12,342      -5.3  %     14,727      -20.6 %     199        254        -21.6 %     49,756        63,941        -22.2 % ^6 Total Nasdaq Listed              1,736        1,661      4.5   %     1,854      -6.4  %       107,620       104,663     2.8   %     116,830     -7.9  %     1,749      2,022      -13.5 %     437,168       509,421       -14.2 % Consolidated Volume                                                                                                                                                                                                               Share of Total Nasdaq Listed Consolidated Volume Handled Volume      12.2   %     13.7   %               14.6   %                 12.2    %     13.7    %               14.6    %               13.2   %   14.6   %               13.2      %   14.6      % ^5 Matched Volume      10.9   %     11.8   %               12.6   %                 10.9    %     11.8    %               12.6    %               11.4   %   12.6   %               11.4      %   12.6      % ^6                                                                                                                                                                                                               Exchange-Traded Funds ^5,7                                                                                                                                                                                                               Handled Volume      213          205        3.9   %     359        -40.7 %       13,193        12,903      2.3   %     22,619      -41.7 %     233        360        -35.4 %     58,195        90,741        -35.9 % ^5 Matched Volume      197          186        5.9   %     323        -38.9 %       12,229        11,739      4.2   %     20,350      -39.9 %     211        324        -34.9 %     52,682        81,632        -35.5 % ^6 Total ETF Consolidated        940          890        5.6   %     1,433      -34.4 %       58,263        56,048      4.0   %     90,268      -35.5 %     1,020      1,420      -28.2 %     255,004       357,841       -28.7 % Volume                                                                                                                                                                                                               Share of Total ETF Consolidated Volume Handled Volume      22.6   %     23.0   %               25.1   %                 22.6    %     23.0    %               25.1    %               22.8   %   25.4   %               22.8      %   25.4      % ^5 Matched Volume      21.0   %     20.9   %               22.5   %                 21.0    %     20.9    %               22.5    %               20.7   %   22.8   %               20.7      %   22.8      % ^6                                                                                                                                                                                                                ^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.      Represents the total number of shares of equity securities and ETFs ^5   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.        *Story too large*  NYSE Euronext Selected Statistical Data: Other Operating Statistics                                                                                 Three Months Ended                                 Full Year (Unaudited)   Dec. 31, 2012   Sept. 30, 2012   Dec. 31, 2011     2012   2011  [TRUNCATED]