Well, at least one public New York e-commerce company is happy about the stock-market turmoil. NYSE Euronext capitalised on yesterday’s 340 point freefall/moonshot to announce that it had set a volume record:
NYSE Euronext (NYSE Euronext: NYX), the world’s largest and most liquid exchange group, today reported record transaction volume in its U.S. cash equities trading operations on NYSE Group exchanges with 5.73 billion shares traded, based on preliminary results. Additionally, the NYSE also achieved new records in orders, trades and quotes. So far this month, trading volume on NYSE Group U.S. cash equities markets in August 2007 is 110% higher than August 2006.
So, even as most of its client companies head for hell in a hand-basket, CEO John Thain & Co. will be able to look forward to an upbeat quarterly conference call with with analysts chirping “Nice quarter, guys!” (Did you know NYX has an $18 billion market cap and $2.5 billion in revenue and now own six exchanges worldwide?)
We love this market environment!