The New York Stock Exchange (NYSE), a wholly owned subsidiary of Intercontinental Exchange (NYSE:ICE), extended its leadership as the premier venue for global capital raising, and the exchange of choice for issuers. The NYSE marked a number of milestones in the first half of 2018, positioning itself for continued growth, including:
- Ranked the #1 global exchange, raising $19.3 billion in proceeds from U.S. initial public offerings (IPOs) and $7.5 billion in assets under management (AUM) from U.S. exchange traded funds (ETFs).
- Expanded trading of all U.S securities including non-NYSE listed securities, including all ETFs onto the NYSE, and launched NYSE National, delivering greater choice to market participants.
- Reinforced the value of its unique market model, combining state-of-the-art technology with human judgement to successfully complete the first NYSE Direct Floor Listing with Spotify (NYSE: SPOT), and delivered the least volatility and tightest spreads during all market conditions, including the significant market declines in February.
- Announced a new executive leadership team, led by the appointment of NYSE Group’s first female president, Stacey Cunningham.
“At no other time in its history has the NYSE offered market participants more choice or flexibility in how they list, trade and manage their companies and investments,” said NYSE Group President, Stacey Cunningham. “We approach our role as the world’s leading exchange with a profound sense of duty, and we will continue to innovate to ensure that the U.S. capital markets remain the leading markets in the world, and that our customers are supported in the best way possible.”
The Leading Exchange for Capital Raising and ETFs
From January 1 to June 30, 2018, the NYSE maintained its leadership role in capital raising and listings, including:
- IPO Leadership: 41 IPOs raising $19.3 billion in proceeds. An additional $52 billion was raised in proceeds as a result of follow-on financing.
- ETF Leadership: NYSE Arca leads the industry as the largest exchange for ETF trading.
- International IPOs: 12 IPOs, raising $5.2 billion. New international listings crossed geographies from Asia to North, Central and South America, and included companies such as PagSeguro (NYSE: PAGS), Hudson Ltd. (NYSE:HUD) and Huya (NYSE:HUYA).
- Spins: Conducted nine spin-offs totaling $24 billion in market cap, including Wyndham Hotels & Resorts, nVent Electric, Apergy and Veoneer.
- Alternative IPO Paths: Listed six Special Purpose Acquisition Companies (SPACs) and the first NYSE Direct Floor Listing with Spotify (NYSE: SPOT), employing the Exchange’s expertise to help companies explore new ways to enter the public market.
“The NYSE market model once again excelled as we completed the U.S.’s first direct listing, offering greater choice for companies as they look to exit private markets and provide greater value to investors,” said COO and Head of Global Listings for NYSE Group, John Tuttle. “With a community of over 2,400 global listed companies, we will continue to invest in, and advocate for ways to make markets more accessible and less complex for issuers and investors.”
Expanding Offerings and Choice
The NYSE’s first half performance was further underscored by the expansion of trading of all U.S.-listed securities - both those listed on NYSE and non-NYSE exchanges, including ETFs - onto NYSE. For the first time in history, customers can now trade all U.S. listed securities on the NYSE Trading Floor, and take advantage of the advanced tools available to customers. This contributed to NYSE Group’s volume increasing more than any other exchange group since April. In addition, the NYSE launched NYSE National, a trading-only venue that trades all U.S-listed securities using a simple price/time priority allocation method using a ‘taker-maker’ pricing model. These advancements were the result of a strategic effort to deliver purpose-built exchanges for issuers, and create greater choice to market participants in where and how they invest and trade.
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About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group’s equity exchanges -- the New York Stock Exchange, NYSE American, NYSE Arca and NYSE National -- trade more U.S. equity volume than any other exchange group. The NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges. To learn more, visit www.nyse.com/index.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 and Fortune Future 50 company formed in the year 2000 to modernize markets. ICE serves customers by operating the exchanges, clearing houses and information services they rely upon to invest, trade and manage risk across global financial and commodity markets. A leader in market data, ICE Data Services serves the information and connectivity needs across virtually all asset classes. As the parent company of the New York Stock Exchange, the company raises more capital than any other exchange in the world, driving economic growth and transforming markets.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at http://www.intercontinentalexchange.com/terms-of-use. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statement in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the SEC on February 7, 2017.
SOURCE: Intercontinental Exchange