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NYSE continues to lead the world's capital markets

posted onJuly 30, 2018

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 sixSpecial 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.

NYSE Group is a subsidiary of 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. 

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