STOCKCHASE

(Market Call Minute.) Is the European deal dead? Looks like it will have difficulty getting through. Don’t Buy as you don’t know if the deal is going to go through.

2012-01-13

HOLD

27.280

Srikanth Iyer

He is a big supporter of converges. High frequency traders are were the revenue streams are. He likes it

2011-08-24

Comment

28.330

Exchanges are wonderful proxies for the economies they serve. Looks like it’s on the mend. If it could get through the $31 level, $50 is a possible target.

2010-11-25

SELL

29.440

Brian Acker, CA

His model price is just a little above the current price so he would be tempted to sell.

2010-08-17

BUY

33.830

You buy this at $33.70, Sell the NYX January $35 Call at $2.85 and Sell the NYX January $30 Puts at $2.50. If the stock declines, you could average in to the position over the next 9 months. You are obligated to either buy at $30 or sell at $35.

2010-04-23

PAST TOP PICK

28.840

(A Top Pick March 27/09. Up 50.13%.)

2010-03-16

PAST TOP PICK

29.150

(Top Pick Dec 24/08, Up 77.8%) Buy NYX-N, sell NYX June Calls, Sell NYX June Puts.

2009-10-23

TOP PICK

19.080

(A double up/double down trade.) Buy at $19.55 and Sell January 2010 $20 Call at $4.20 and Sell January 2010 $20 Put at $5.15. Gives you $9.35 in premium so your cost on your original position is $10. If you sell your original position, you have had 100% return. Flip side stock could go down and you would double up your position so your 2nd block of shares would be bought at $10 and your average cost would be slightly less than $15.

2009-03-27

Comment

15.100

Market share and margins are really the issue. The only businesses in the financial services that have done well are the exchanges. There are 40 different alternative trading platform systems in the US, which will be hurt even more than this. Has a global reach and involved in a wide product mix.

2009-03-05

TOP PICK

24.390

Santa Claus

Strategy: Buy this and 1) Sell June $25 Calls @ $4.70 2) Sell June 25 Puts @ $5.70 for a net cost of $14.06. For selling the Call option you agree to sell the shares for $25. For selling the Put options you agree to buy more shares at $25. Only one of those options will have any value by June.If stock goes above $25 your return is $25 divided by your net cost of $14.06 giving a 74% return.If stock drops below $25, you have to buy another block of shares at $25 and the $25 plus the $14.06 net cost gives an average cost is $19.26, which is a very good investment.Stock also has a 6% dividend.

2008-12-24

Comment

47.910

Andrew Guy, CFA

Very much driven by volume. Attractive volumes, especially on the down side. Expect there could be nice earnings out of NYSE Euronext as well is getting continuing benefits from the mergers. High beta stock because it is very much tied to equity markets.

2008-07-22

SELL

73.260

Paul Thornton

Q: Should caller sell this and by Visa (V-N). A: NYSE Group is not really performing very well. Thinks this would be a reasonable trade but there could be a pullback on Visa in the short term.

2008-05-07

DON'T BUY

68.440

Brian Acker, CA

(Market Call Minute.) He has a model price of $55.16, a -2% differential.

2008-04-03

SELL

67.620

Charles Bobrinskoy

Exchanges are having an interesting situation. A couple have done very well because they have particular monopolies in their contracts. This one doesn't, so they have been losing shares. Doesn't like the long-term outlook for this.

2008-02-20

WATCH

82.720

Ron Meisels

Problem is that it has a downtrend line and very little base building in September. He would love to see a selloff to about $69 to give it a double bottom. Wait for it to approach the $68-$69 level.

2007-11-23

VAGUE

90.000

Thinks the New York stock exchange is one of the cheapest exchanges in the world.

2007-10-24

DON'T BUY

70.350

Jeff Parent B. Eng. FCSI

Looks like it has hit bottom here but there is not a lot of volume, which is not a good sign. Decline has been pretty persistent for most of the year. If the trend continues, you could see $60.

2007-08-15

BUY

75.400

Over the next couple of years, he sees the US portion of the business adding a derivatives component to it. Can see the floor closing in a few years and then their current profit margins of 24% could move up sharply.

2007-07-24

WATCH

83.740

Kenneth P. Norquay, CMT

Looks like an ordinary pull back within an uptrend. Having a short term downtrend. Don't buy today, if it drops a bit more, then sell. Wait for the pull back to go a bit higher before buying.

2007-06-01

SELL

86.430

John Zechner

Not comfortable with the valuations with the stock exchanges.

2007-04-25

BUY

84.450

His firm has a big vested interest in the NYSE. Has pulled back in the last little while. He feels that it will eventually trade at over $200.

2007-02-27

DON'T BUY

91.180

David Burrows

Not performing strongly as they are viewed as an acquirer rather than an acquiree. Own the exchanges that are being bought, not the buyers.

2007-02-20

Comment

101.190

John Manley

Had a lot of support around and $90-$95 area with a lot of resistance around $110. In a consolidation range. Fundamentally it's a little rich on the P/E, but will be closing their deal with Euronex pretty soon giving a lot of revenue possibilities. From a Put selling perspective, you can capture about 3.5%-4% in 30 days by selling Puts around $90.

2007-01-24

DON'T BUY

108.210

Merging with Euronext, the European exchange. Also purchasing 5% on India's National Stock Exchange. The price of all these exchanges are terribly overpriced. Growth potential is not there.

2007-01-10

DON'T BUY

104.580

Charles Lannon

Stock exchanges are fantastic assets as they have reoccurring revenues from the regulatory part of their business. Businesses of huge operating leverage as fixed costs are so low that for every $1 of revenue that comes in, go straight into the pre-tax profit line. Valuation is a bit steep at this time.

2007-01-09

BUY

105.940

David Burrows

There will continue to be consolidation with exchanges. This one is a global leader and are likely to make acquisitions as we go along. There have been lots of money made in these, but if we continue to have strong equity markets, this is a good one to own.

2007-01-08

DON'T BUY

96.640

Has gone up a lot this year. A stock exchange, which is a leveraged play on volumes, mergers and IPOs. If the stock markets do well as they have for the last 4 years, they do very well. When stock exchanges start going public en-masse, we are pretty near the top.

2006-12-07

Comment

97.880

Bill Carrigan

Hasn’t been trading for very long, so he doesn’t have a lot of data. Had a spike in November and would watch this area very closely. It has dropped back and if it goes up again and then down, he would be careful.

2006-12-06

HOLD

96.050

John Manley

A lot of consolidation happening in the exchanges globally. Although it has pulled back recently, it is in a very strong uptrend, Good long-term hold.

2006-12-04

Comment

100.100

Paul Harris, CFA

Undervalued relative to the Mercantile Exchange. The issue is it is in the midst of a merger with Euronext and perhaps with the London exchange, so it is in transition with volatility short term.

2006-11-30

TOP PICK

108.960

Exchanges have not been well understood nor well covered. There is still considerable upside. Have dramatically reduced costs.

2006-11-23

DON'T BUY

108.960

Alex Ruus

A great business with long-term drivers. Will benefit from increased market activity. Has recently had a huge run. Pretty expensive.

2006-11-22

HOLD

95.320

Peter Hodson

Pretty good brand name. They have the capital and backing to do lots of good acquisitions. A great business. If you own, you might consider taking some profit. Easy money has been made.

2006-11-20

DON'T BUY

82.510

John Zechner

Feels the exchanges are overvalued. Doesn’t see the valuations based on earnings growth or cash generation can justify the present prices.

2006-11-08

BUY

75.000

Still attempting to merge with the European stock market exchanges. Sees a lot of upside potential.

2006-10-23

HOLD

72.970

Michael Smedley

Exchanges are marvellous cash cows. Probably all right, but would prefer a lower price.

2006-10-19

BUY

61.370

In the middle of attempting to merge with Euronex. Will also be starting and options exchange. Will become more electronic with their hybrid system. Cutting costs.

2006-09-12

Comment

57.300

Down 21% since it started. They are volume driven. With more trading, they would do well so it is a leverage play on how you think security markets will do.

2006-08-10

DON'T BUY

64.500

When it went public, there was a lot of excitement about stock exchanges around the world. A classic case of hype overcoming substance. Could never understand why it was over $60. A recession or slower growth in the US will result in fewer listings and trading will decline.

2006-07-27

WEAK BUY

59.400

Bruce Campbell

There consolidations in this group. They will probably get involved in something. Given how much it’s fallen, it may be an interesting play.

2006-06-08

BUY

75.450

Thinks that in 2/3 years it could be a $200 stock. There will be a secondary offering made, and when it is out of the way, assuming the markets are continuing to do well, you will start to see the share price rise again.

2006-04-19

DON'T BUY

72.800

In his view, this was a frenzy stock. Wouldn't be surprised to see it below $50 a year from now.

2006-04-18

DON'T BUY

79.470

There was so much hype and so much expectation that you could see it setting up the retail investor for a hit. You have to be careful about these things that have so much excitement and publicity. Don't let your heart get ahead of your head.

2006-03-27

BUY

76.300

David Burrows

The general view on exchange shares is that there is expected consolidation to take place over the next couple of years. A great business. Cash flow business. In the short run, there has been a pullback in most of these companies due to being overbought. Expect the stock will go higher.

2006-03-23

BUY

86.350