Friday, March 19, 2010

Financial Exchange & Market Monitor Credit Suisse Research $SPY

■ Market Volatility. Volatility across most asset classes is mostly lower in the
first half of March–by asset class, interest rates are the exception.

■ Cash Equities. For the most part, volumes in the first half of March are
tracking lower from year-ago levels and flat-to-down from February. First
quarter-to-date, volumes are mainly stronger relative to year-ago levels. In
Europe, March-to-date ADV is tracking down 17% yr/yr at Euronext.
Deutsche Boerse volumes are tracking down 3% in value traded from last
year and down 14% vs. February levels. Volumes at BME are tracking down
12% yr/yr and down 36% mth/mth. 1Q-to-date: DB1 16% yr/yr, BME 28%,
Euronext +3%. In the U.S., comparisons have diverged. March-to-date,
NYSE consolidated volumes are tracking down 40% yr/yr, while
consolidated NASDAQ volumes are tracking up 3% from last year’s levels.
1Q-to-date: NYSE -21% yr/yr, NASDAQ +7% yr/yr.

Financial Exchange

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