Dallas, Texas 07/10/2013 (Financialstrend) – NYSE Euronext (NYSE:NYX), a global operator of financial markets and provider of financial trading solutions, recently won the contract to improve and administer the London Inter-Bank Offered Rate, known as LIBOR, which has for long been managed by the British Bankers’ Association. The administration of this benchmark interest rate is now being transferred to the American company NYSE Euronext (NYSE:NYX).
The recent move of handing over the contract to NYSE Euronext (NYSE:NYX) will provide a fresh start for the benchmark interest rate, prominently used for the determination of the interest rate used for short term loans in worldwide economies. The administration and determination of the LIBOR rate is not an easy task and the taking over of this challenge by NYSE Euronext (NYSE:NYX) proves to be a milestone achievement for the company. Among the four companies that submitted the bid for administering LIBOR, the major player was the London Stock Exchange.
After reaching the intraday high price of $41.72, the share price of NYSE Euronext (NYSE:NYX) closed at $41.02 with an intraday low price of $40.69. The share price of NYSE Euronext (NYSE:NYX) decreased by 0.61 percent, closing on Tuesday at $41.57. The 52-week high price of NYSE Euronext (NYSE:NYX) is $42.42 and the 52-week low price stood at $22.25. With 243 million total outstanding shares, the market capitalization of NYSE Euronext (NYSE:NYX) is $9.97 billion. The intraday share trading volume for yesterday was 916,071.00 shares, whereas the average trading volume of NYSE Euronext (NYSE:NYX) heads up to 1.48 million. Institutional ownership in NYSE Euronext (NYSE:NYX) records a contribution of 82 percent of the company’s total outstanding shares.