Jan. 16 (Bloomberg) -- Trading volume for U.S. stocks will not recover in 2013, after last year marked the lowest level since at least 2008, according to NYSE Euronext Chief Executive Officer Duncan Niederauer.
Average daily trades for companies listed on U.S. stock exchanges fell 18 percent last year to 6.4 billion, data compiled by Bloomberg show. It was the third straight year of declining volume.
“It’s probably going to remain light for a while,” Niederauer said in a Bloomberg Television interview today.
Niederauer, whose NYSE Euronext is planning to merge with IntercontinentalExchange Inc. this year, also said capital markets may see more initial public offerings in 2013. U.S. companies raised $41.2 billion in 2012, compared with about $57 billion in 2007, Bloomberg data show.
“If the market hangs in here at this level, the pipeline is stronger than it’s ever been,” Niederauer said. “I think we’re ready for 2013 to be a very, very good year for issuance.”
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