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INTRODUCTION

NYSE Euronext listed companies are among the worlds best. They range from blue-chip

companies, to world-leaders in their business area, to young, high-growth technology companies.

They meet and adhere to the overall highest listing standards.

New listings at NYSE Euronext group level include transfers from other markets, initial public

offerings, and cross-listing from companies listed on other global exchanges.

As of December 31, 2007, NYSE Euronext and NYSE Alternext were home to approximately

1,155 world-class issuers, including operating companies, closed-end funds and exchange traded

funds.

IPO ShowcaseDiscover NYSE Euronext's newest listed companies by viewing their IPO announcements.

Listing process

NYSE Euronext group offers several markets for listing : NYSE Euronext (compartments A,B or

C) and NYSE Alternext in Europe, where dedicated teams are responsible for attracting listings

and working with companies to ensure listing requirements are met. Discover the steps to be

listed: There is a market meeting your needs.

HISTORY OF EURONEXT

Euronext N.V. is a pan-European stock exchange based in Paris[1] and with subsidiaries in

Belgium, France, Netherlands, Portugal and the United Kingdom. In addition to equities and

derivatives markets, the Euronext group provides clearing and information services. As of 31

January 2006, markets run by Euronext had a market capitalisation of US$2.9 trillion, making it

the 5th largest exchange on the planet.[2] Euronext merged with NYSE Group to form NYSE

Euronext, the "first global stock exchange".

September 2000: Merger of the exchanges of Amsterdam, Brussels and Paris to form the first

cross-border exchange group, Euronext N.V., a Holding company under Dutch law.

January 2002:

- Euronext Group expands with the acquisition of LIFFE (London International Financial Futures

and Options Exchange).

- Merger with the Portuguese exchange BVLP (Bolsa de Valores de Lisboa e Porto).

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2003: Euronext market integration: single cash trading platform, NSC and clearing system,

Clearing 21, for the whole Group; first phase of migration of derivatives products to LIFFE

CONNECT completed.

December 2003: Merger of London Clearing House and Clearnet to create LCH.Clearnet,

Europes leading provider of clearing and central counterparty services.

Structure and Indices

Euronext has cross-membership and cross-access agreements with the Warsaw Stock Exchange

for their cash and derivatives products, and with the Helsinki Exchanges on cash trading;

ownership agreements are currently excluded. The Euronext List encompasses all quoted

companies. It has two segments; NextEconomy, consisting of companies whose equities are

traded continuously and are active in sectors such as information technology and biotechnology,

and NextPrime, consisting of companies in more traditional sectors that are traded continuously.

Inclusion in the segments is voluntary.

Euronext manages two broad-based indices. The Euronext 100 Index is the blue chip index. The

Next 150 Index is a market capitalisation index of the 150 next largest stocks, representing the

large- to mid-capitalisation segment of listed stocks at Euronext. The NextEconomy and

NextPrime segments each have a price index and a total return index, weighted by market

capitalisation and excluding the shares listed in the Euronext 100 Index. The indices have a base

date of 31 December 2001, with a starting level of 1000 points. Six NextWeather weather indices

for France, launched in January 2002, are among the sector indices planned by Euronext.

Exchange traded funds, called trackers, comprise Euronext's NextTrack product segment, and

have been introduced on the AEX index, CAC 40, Dow Jones Euro Stoxx 50, and various pan-

European regional and sector indices. Euronext has introduced several commodity futures

contracts, available to all constituents. Winefex Bordeaux futures are traded on Euronext Paris.

Euronext.liffe is the subsidiary of Euronext responsible for all options and futures contracts

trading, formed by the merger of the derivatives activities of the various constituents of Euronext

with LIFFE.

Euronext.liffe

Euronext.liffe was formed in January 2002 from the takeover of the London International

Financial Futures and Options Exchange by Euronext. The derivatives activities of the other

constituent exchanges of Euronext (Amsterdam, Brussels, Lisbon and Paris), were merged into

Euronext.liffe. Trading is done electronically through the LIFFE CONNECT platform.

Euronext.liffe offers a wide range of futures and option products on short-term interest rates,

bonds, swaps, equities and commodities.

Volumes in 2004 were split as follows:

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Interest Rate: 313.3 million contracts

Equities: 468.8 million contracts

Commodities: 8.0 million contracts

In addition to this, it sells its technology to third parties. Since April 2003, the TokyoInternational Financial Futures Exchange has run on LIFFE CONNECT. Furthermore, in January

2004, the Chicago Board of Trade started electronic trading using e-cbot, which is powered by

LIFFE CONNECT. As a result, the Kansas City Board of Trade, the Minneapolis Grain

Exchange and the Winnipeg Commodity Exchange use LIFFE CONNECT for their overnight

trading.

Merger with NYSE

Due to apparent moves by NASDAQ to acquire the London Stock Exchange[3], NYSE Group,

owner of the New York Stock Exchange, offered 8 billion (US$10.2b) in cash and shares for

Euronext on 22 May 2006, outbidding a rival offer for the European Stock exchange operator

from Deutsche Brse, the German stock market.[4] Contrary to statements that it would not raise

its bid, on 23 May 2006, Deutsche Brse unveiled a merger bid for Euronext, valuing the pan-

European exchange at 8.6 billion (US$11b), 600 million over NYSE Group's initial bid. [5]

Despite this, NYSE Group and Euronext penned a merger agreement, subject to shareholder vote

and regulatory approval. The initial regulatory response by SEC chief Christopher Cox (who was

coordinating heavily with European counterparts) was positive, with an expected approval by the

end of 2007.[6] The new firm, tentatively dubbed NYSE Euronext, would be headquartered in

New York City, with European operations and its trading platform run out of Paris. NYSE CEO

John Thain, who would head NYSE Euronext, intends to use the combination to form the world's

first global stock market, with continuous trading of stocks and derivatives over a 21-hour time

span. In addition, the two exchanges hope to add Borsa Italiana (the Milan stock exchange) into

the grouping.

Deutsche Brse dropped out of the bidding for Euronext on 15 November 2006, removing the

last major hurdle for the NYSE Euronext transaction. A run-up of NYSE Group's stock price in

late 2006 made the offering far more attractive to Euronext's shareholders.[7] On 19 December

2006, Euronext shareholders approved the transaction with 98.2% of the vote. Only 1.8% voted

in favour of the Deutsche Brse offer. Jean-Franois Thodore, the Chief Executive Officer of

Euronext, stated that they expected the transaction to close within three or four months.[8] Some

of the regulatory agencies with jurisdiction over the merger had already given approval. NYSE

Group shareholders gave their approval on 20 December 2006.[9] The merger was completed on

4 April 2007, forming NYSE Euronext.

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Attempted Merger with Deutsche Brse

On November 25, 2008, Deutsche Brse and NYSE Euronext began merger talks which

involved creating a holding company to buyout Deutsche Brse shareholders, then use Euronext

to merge into the new corporation.[10] [11] A deal was reportedly not struck due to valuation

differences. However, such a merger would create the largest exchange in history.

Last one Year Activity

BUSINESS REVIEW AND OUTLOOK

Sopheon plc ("Sopheon") the international provider of software and services that improve the

return from innovation and product development investments, announces its unaudited interim

results for the six months ended 30 June 2009 (the "period") together with a business review and

outlook.

Highlights:

- Revenue: 4.1m (2008: 4.3m)

EBITDA loss: 0.3m (2008: EBITDA profit 0.5m)

Loss before tax: 1.0m (2008: profit 0.1m)

- Seventeen license transactions including extension sales completed. A number of opportunities

expected to close during the first half of the year were delayed but remain in active sales cycles.

- Revenue visibility now stands at 7.0m for full-year 2009 performance, up from 6.2m

reported in mid June at the AGM. The licensee base now stands at 163.

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- Gross cash at 30 June stood at 1.6m. We have renegotiated our debtor-based revolving credit

facilities from $750,000 to $1,250,000, though only $700,000 was drawn at 30 June.

- We introduced Idea Lab(TM), our new idea development software for the front end of the

product innovation process. Sopheon now offers the first software suite in the industry to provideall-in-one support for strategic product planning, ideation and execution.

Sopheon's Chairman, Barry Mence said: "After our great progress in 2008, we are disappointed

that wider economic conditions in the first half of this year affected the Group's historical pattern

of growth. Nevertheless, we continue to work hard at closing business, and believe that our

considerable pipeline of new sales opportunities will enable us to return to growth in the second

half of the year."

Trading Performance

Following landmark growth in 2008, consolidated revenues for the first half of 2009 were 4.1m

compared to 4.3m in the first half of 2008. As noted in the AGM statement released on 16 June,

the reduction can be attributed largely to delays in closing new license orders. This is borne out

by the overall revenue mix between license, maintenance and services, which was 30:26:44

respectively, compared to 47:27:26 for the same period last year.

Sales performance during the six-month period included 17 new and extension license orders, inaddition to a number of consultancy and services contracts. In spite of the weak economy,

renewals of license rental, maintenance and hosting contracts have held up well, and our

annualised base of such recurring business stands at 4.1m.

We have consistently noted our business dependency on a small number of relatively large deals,

any of which can materially impact the revenue recorded in a particular period. When combined

with current market conditions, this has resulted in deferment of a number of opportunities that

we had expected to close in the second quarter. Several of these prospects attributed the delays to

more stringent approval processes imposed due to market uncertainty. The majority of theaffected prospects remain in active sales cycles and closures to date have resulted in an increase

in full-year revenue visibility from the 6.2m reported at the time of our AGM to 7.0m today.

Based on our current view of the forward sales pipeline, we continue to expect that we will close

several of the delayed opportunities in the second half of the year, in addition to winning new

business which was originally identified for the third and fourth quarters. This will be a major

challenge, but one we will embrace with vigour.

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From a geographical perspective, approximately two-thirds of revenues during the first half of

the year were generated in the US, and one third in Europe. This balance of distribution is

generally consistent with prior periods. The Alignent business acquired in June 2007 accounted

for 13% of total revenues recorded in the first half of 2009 compared to 12% for the comparableperiod last year. Gross profit, which is arrived at after charging direct costs such as payroll for

client services staff, was 2.8m compared to 3.2m the year before, representing a fall in the

gross margin percentage from 75% to 67%. This reflects the relatively fixed nature of such costs.

We expect the gross margin percentage to continue to fluctuate from period to period, in line

with variation in our revenue mix.

Operating Costs and Results

The fall in the value of Sterling has resulted in reported costs being considerably higher across

all parts of our business, since the majority of our staff are based outside the UK. Looking

beyond this apparent overall increase, we have adjusted the staffing mix during the period. Total

staff count at the end of 2008 was 105, up from 96 at the end of June 2008. Coming into 2009, to

sustain a position of product leadership in the market, we recruited additional staff into our

product development team. This was offset by a reduction of staff in other operational groups,

implemented in April. The combination of these changes resulted in a total staff count at the end

of June of 100. The financial benefit of the staff reductions will feed through in the second half

of the year.

The overall operating result for the business during the period was a loss of 892,000 (2008:

profit of 132,000). After net finance costs, which include interest on debt taken on to finance

the Alignent acquisition, the final loss before tax reported for the period is 990,000 (2008:

profit of 54,000). This result includes interest, depreciation and amortisation costs amounting to

658,000 (2008: 479,000). The majority of this increase is connected with the higher relative

value of the US dollar, which has translated into higher reported costs in Sterling. The EBITDA

result for the first half of 2009, which does not include these elements, was a loss of 330,000

(2008: profit of 533,000).

Corporate and Balance sheet

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Net assets at the end of the period stood at 3.1m (2008: 3.5m). Gross cash resources at 30 June

2009 amounted to 1.6m (2008: 2.1m). Approximately 0.4m was held in US dollars, 0.6m in

Euros and 0.6m in Sterling.

Intangible assets stood at 4.2m (2008: 3.7m) at the end of the year. This includes (i) 2.3mbeing the net book value of capitalised research and development (2008: 1.5m) and (ii) 1.9m

(2008: 2.2m) being the net book value of Alignent intangible assets acquired in 2007. Due to

amortisation and impairment charges, the underlying dollar value of these assets has lowered

since last year. However, the movement in Sterling does not reflect this fully due to the sharp

change in exchange rates year to year.

As part of the funding raised for the Alignent acquisition, Sopheon secured $3.5m of medium-

term debt from BlueCrest Capital Finance LLC ("BlueCrest"). The debt is being repaid in 48

equal monthly instalments and is secured by a debenture and guarantee from Sopheon plc.

BlueCrest also offered the enlarged group an additional two-year $750,000 revolving credit

facility secured on accounts receivable. This has been renewed for a further year at a higher

facility limit of $1,250,000. At 30 June 2009, the balances outstanding on the medium-term debt

and revolving credit facility were $2m (2008: $2.8m) and $700,000 respectively (2008:

$750,000). The equivalent figures in Sterling are 1.2m (2008: 1.4m) and 425,000 (2008:

377,000) respectively.

Market and Product

Over the last two years we have evolved Sopheon from a single product company to one with a

product family. This has been accomplished through a combination of strategic investment,

partnership activity and an unremitting focus on product development. Our first milestone in this

expansion in scope was in 2007 with the acquisition of Alignent Software, bringing its Vision

Strategist(TM) roadmapping solution into our product set. This was followed last year with the

pivotal release of version 7.0 of our core Accolade platform.

Most recently, we introduced Idea Lab, an Accolade module designed specifically for use in

generating, nurturing and developing new product ideas. The new solution is the result of a

partnership between Sopheon and Hype Softwaretechnik GmbH, a German-based supplier of

idea management software. Idea Lab has received feature coverage from IT research and

advisory firms such as AMR Research, ARC Advisory and Tech-Clarity. The new offering

expands Accolade's capacity to strengthen the entire product innovation process. At the front end

of the innovation cycle, Accolade's Vision Strategist delivers automated support for the

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development of strategic product plans. The plans are socialised, fleshed out and enhanced in

Idea Lab. The most promising strategic concepts migrate from Idea Lab into the user's Accolade-

supported gate or phase-based innovation processes, reducing the time it takes to turn ideas into

products.

Our software belongs to a major class of applications called product lifecycle management

("PLM") solutions that help companies develop and execute their product strategies. The PLM

market is comprised of multiple submarkets. Sopheon is focused on an emerging submarket

called Product Portfolio Management ("PPM") which addresses the business challenges

associated with product innovation, including the management of innovation risk and reward. A

number of vendors of project portfolio management solutions that have historically focused their

software and go-to-market strategies on the project management needs of corporate information

technology organisations continue to step up their attempts to migrate toward the PPM space.

However, several analysts have labelled Accolade as best-of-breed among solutions in the

product portfolio management sub-class, with AMR Research stating that it is the most matureand has the greatest traction. Moreover, we believe that our software can bring immediate value

to recession-plagued companies that need to reduce costs without undercutting their prospects for

long-term growth. Our solutions help them maximise returns from available resources, while also

supporting their development of programs and strategies that will enable them to accelerate out

of the downturn and emerge with increased competitive strength.

Outlook

Our sales pipeline remains strong, with good lead generation and high levels of activity. Our

challenge is to convert this activity into signed contracts. This task has been made more difficult

by current economic conditions, as customers prolong their investment decisions. Our first-half

performance reflects the impact of this slowing of our sales cycles. We continue to evaluate both

our cost base and our balance sheet, however the board is committed to maintaining its

investment in product and its ability to service customers effectively. Accordingly, any cost

adjustments will be carefully thought through and balanced against expected performance.

As we face the current challenges, we are fortified by our recent achievements. Sopheon's

strategic position continues to strengthen, with a customer base that now includes 163 licensees,

the majority of which are global brands. With the launch of Idea Lab, Sopheon offers the first

software suite in the industry to provide all-in-one support that encompasses innovation strategy,

ideation and execution. We remain convinced that this represents a highly differentiated value

proposition, and are encouraged by strong interest from the market and influential, positive

affirmation from the business analyst community.

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CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS ENDED

30 JUNE 2009 (UNAUDITED)

2009 2008'000 '000

Continuing operations

Revenue

4,111 4,298

Cost of sales

(1,339) 1,067

Gross profit

2,772 3,231

Sales and marketing expense (1,733) (1,489)

Research and development expense

1,004 775

Amortisation of acquired intangible assets 170 170Other administrative expense 757 665

Total administrative expense 1,931) 1,610

Operating (loss)/profit

(892 132

Finance income 13 32

Finance expense

(111 (111

(Loss)/profit before and after taxation

(990) 54

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(all attributable to equity holders of the parent

company)(Loss)/earnings per share - basic and diluted in pence (0.68p) 0.04p

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE

SIX MONTHS ENDED 30 JUNE 2009 (UNAUDITED)

2009 2008'000 '000

(Loss)/profit for the period (990 54

Other comprehensive income

Exchange differences on translation of foreign

operations

(261 20

Total comprehensive (loss)/income for the period, net

of tax

(1,251 74

CONSOLIDATED STATEMENT OF FINANCIAL

POSITION

AT 30 JUNE 2009 (UNAUDITED)

2009 2008

'000 '000

AssetsNon-current assets

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Property, plant and equipment

189 164

Intangible assets 4,167 3,689Other receivable 10 10

4,366 3,863

Current assets

Trade and other receivables 2,052 2,415

Cash and cash equivalents 1,590 2,054

3,642 4,469

Total assets 8,008 8,332

Liabilities

Current liabilitiesBorrowings 968 778Deferred revenue 2,201 1,746

Trade and other payables 1,107 1,367

4,276 3,891

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Non-current liabilities

Borrowings 654 986

Total liabilities 4,930 4,877

Net assets 3,078 3,455

Equity

Share capital 7,279 7,279

Other reserves

73,688 73,570

Retained losses and translation reserve 77,889 77,394

Total equity 3,078 3,455

(all attributable to equity holders of the parent

company)

Net cash used in investing activities 600 313

Financing Activities

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Repayment of borrowings 293 185

Movement in bank overdrafts and lines of credit

33` _

Finance expense

111 111

Net cash from financing activities 437 296

Net decrease in cash and cash equivalents 898 9

REGULATORY BODY

Regulatory structure and environment of Euronext

Each of the Euronext exchanges holds an exchange license granted by the relevant national

exchange regulatory authority and operates under its supervision. Each market operator is also

subject to national laws and regulations in its jurisdiction in addition to the requirements imposedby the national exchange authority and, in some cases, the central bank and/or the finance

ministry in the relevant European country. Regulation of Euronext and its constituent markets is

conducted in a coordinated fashion by the respective national regulatory authorities pursuant to

memoranda of understanding relating to the cash and derivatives markets.

The integration of Euronexts trading platforms has been fostered and accompanied by regulatory

harmonization. A single rulebook governs trading on Euronexts cash and derivatives markets,

which contains a set of harmonized rules and a set of exchange-specific rules. The Euronext

Rulebooks are available in the present Regulation section of the NYSE Euronexts website.

The regulatory framework in which Euronext operates is substantially influenced and partly

governed by European directives in the financial services area. In November 2007, MiFID came

into effect. MiFID is one of the key directives in the Financial Services Action Plan (FSAP),

which was adopted by the European Union in 1999 in order to create a single market for

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financial services by harmonizing the member states rules on securities, banking, insurance,

mortgages, pensions and all other financial transactions.

The progressive implementation by European member states of the FSAP directives has enabled

and increased the degree of harmonization of the regulatory regime for financial services,offering, listing, trading and market abuse. In addition, the implementation of MiFID by the

European member states has resulted in a reinforcement of the regulators authority and control

over market operators governance, shareholders and organization.

Euronext markets operators and national regulators and regulations overview

Euronext Amsterdam

Euronext Amsterdam is governed by the Act on the Financial Supervision of September 28,

2006. Operation of a regulated market in the Netherlands is subject to prior license by the Dutch

Minister of Finance who may, at any time, amend or revoke this license if necessary to ensure

the proper functioning of the markets or the protection of investors. The license may also be

revoked for non-compliance with applicable rules. AFM, together with De Nederlandsche Bank,

acts as the regulatory authority for members of Euronext Amsterdam, supervises the primary and

secondary markets, ensures compliance with market rules and monitors clearing and settlement

operations. The Dutch Minister of Finance also issues declarations of no objection in connection

with the acquisition of significant shareholdings in the operator of a regulated market in the

Netherlands.

Euronext Brussels

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Euronext Brussels is governed by the Belgian Act of August 2, 2002 and is recognized as a

market undertaking according to article 16 of the Act. Euronext Brussels is responsible for the

organization of the markets and the admission, suspension and exclusion of members and has

been appointed by law as a competent authority within the meaning of the Listing Directive

meaning it is responsible for the admission, the suspension and the delisting of financial

instruments on its markets. The Belgian Minister of Finance, upon CBFA opinion, grants andrevokes the quality of Belgian regulated market to the Belgian market operator for the markets it

operates. The Belgian market operator operates under the surveillance of the Commission

Bancaire, Financire et des Assurances/Commissie voor het Bank-, Financie- en

Assurantiewezen (CBFA). The CBFA is also competent a.o. for Prospectus regulation,

Transparency regulation, Market Abuse regulation

Euronext Lisbon

Euronext Lisbon is governed by the Portuguese Decree - Law no. 357-C/2007, October 31, 2007which, along with the Portuguese Securities Code and regulations from Comisso do Mercado de

Valores Mobilrios (CMVM), governs the regime for regulated markets and multilateral

trading facilities, market operators, and all companies with related activities in Portugal as well

as systemic internalizers and financial intermediaries. The creation of regulated market

companies requires the prior authorization in the form of an ordinance from the Portuguese

Minister of Finance, following consultation with the CMVM. The CMVM is an independent

public authority that monitors markets and market participants, public offerings and collective

investment undertakings.

Euronext Paris

Euronext Paris is governed by the French Monetary and Financial Code. Under the French

Monetary and Financial Code, the French Minister of Finance has the authority to confer or

revoke regulated market status upon recommendation of the Autorit des Marches Financiers

(AMF) and following an opinion from the French Banking Commission (Commission

Bancaire). Market status is granted if the market meets specific conditions for proper operation.

In addition to its status as a market operator, Euronext Paris is approved as a specialized financial

institution and is therefore governed by French banking legislation and regulations (notably the

French Banking Act as amended and codified in the French Monetary and Financial Code),

which means that it is subject to supervision by the Comit des Etablissements de Crdit et des

Entreprises dInvestissement (CECEI) and the Commission Bancaire. As the relevant indirect

parent company of Euronext Paris for purposes of banking regulations, Euronext is also subject

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to certain reporting and statutory requirements of the Commission Bancaire. As such, it must

comply with certain ratios and requirements including minimum equity requirements and

solvency ratios.

LIFFE

LIFFE (Holdings) plc, a U.K. company, is governed by the U.K. Companies Acts of 1985, 1989

and 2006 (to the extent currently implemented). LIFFE (Holdings) has three principal regulated

subsidiaries in the United Kingdom: NYSE Liffe, Liffe Services Ltd. and Secfinex Ltd.

LIFFE Administration and Management (a wholly-owned subsidiary of LIFFE (Holdings) plc)

administers the markets for financial and commodity derivatives in London, which are overseen

by the U.K. Financial Services Authority (FSA). In the United Kingdom, financial services

legislation comes under the jurisdiction of Her Majestys Treasury, while responsibility for

overseeing the conduct of regulated activity rests with the FSA. LIFFE Administration and

Management is designated as a recognized investment exchange pursuant to the U.K. Financial

Services and Markets Act 2000.

Liffe Services Limited is primarily a technology supplier and is governed by FSA regulations as

a service company.

Secfinex Ltd is a majority-owned subsidiary of LIFFE (Holdings). Its principal activity is the

operation of an electronic trading facility for securities borrowing and lending. It is regulated by

the FSA as an authorised person.

Euronext markets overview

Euronexts European market operators hold licenses for operating the following European

regulated markets:

Euronext Amsterdam operates two regulated markets: one stock market (Euronext Amsterdam)

and one derivatives market (Euronext Amsterdam Derivatives Market, i.e., the Amsterdam

market of NYSE Liffe);

Euronext Brussels operates two regulated markets: one stock market (Euronext Brussels) and one

derivatives market (Euronext Brussels Derivatives Market, i.e., the Brussels market of NYSE

Liffe);

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Euronext Lisbon operates two regulated markets: one stock market (Euronext Lisbon) and one

derivatives market (Euronext Lisbon Futures and Options Market, i.e., the Lisbon market of

NYSE Liffe);

Euronext Paris operates three regulated markets: one stock market (Euronext Paris) and two

derivatives markets (MONEP and MATIF, i.e., the Paris market of NYSE Liffe); andLIFFE Administration and Management operates one regulated market, a derivatives market (the

London International Financial Futures and Options Exchange, i.e., the London market of NYSE

Liffe). Through the NYSE Liffe Clearing transaction, NYSE Liffe will become the central

counterparty to transactions on the London derivatives market.

Each market operator also operates a number of markets that do not fall within the EU definition

of regulated markets. Each market operator is subject to national laws and regulations pursuantto its market operator status.

The following MTFs are operated in Europe for the time being:

Euronext Amsterdam operates two MTFs: Alternext and NYSE Arca Europe ;

Euronext Brussels operates five MTFs: Alternext, Free Market, Easynext, Public Auctions

Market and the Trading Facility;

Euronext Lisbon operates one MTF: EasyNext Lisbon (awaiting for the transformation and

merger of the two non-regulated markets from CMVM);

Euronext Paris operates two MTFs: Alternext and the Free market and Delisted securities ;

SmartPool is a neutral dark liquidity pool created by NYSE Euronext in partnership with J.P.

Morgan, HSBC and BNP Paribas. SmartPool Trading Limited is a MTF approved and regulated

by the FSA; and

NYSE Arca Europe is a pan-European MTF created by NYSE Euronext and approved and

regulated by the AFM.

Group-Wide Supervision and Regulation

The national regulators of the Euronext exchanges are parties to two Memoranda of

Understanding (MOUs) that provide a framework to coordinate their supervision of Euronext

and of the markets operated by the Euronext group. Within the framework of the MOUs,

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Euronexts regulators agreed to develop and implement a coordinated approach with respect to

the supervision of the Euronext markets. Representatives of Euronexts regulatory authorities

meet in working groups on a regular basis in order to coordinate their actions in areas of

common interest and agree upon measures to promote harmonization of their respective national

regulations.

NYSE Euronext regulation section

The NYSE Euronext Regulation section gathers the rules issued by Euronext as market operator

to frame the organisation of the European markets of NYSE Euronext. The Euronext Rulebooksfor the regulated markets currently consists of two books:

Book I contains the harmonised rules (cash and derivatives), including rules of conduct and

enforcement rules that are designed to protect the markets, as well as rules on listing, trading and

membership;

Book II contains all rules of the individual markets that have not been harmonised.

The other markets operated by Euronext have their own dedicated rules. For example, the rules

governing the Portuguese MTF EasyNext Lisbon (awaiting for the transformation and mergerof the two non-regulated markets from CMVM) are also included in Euronext Lisbons Book II.

Notices/Instructions implement the provisions of the Rule Books. The Notices adopted by

Euronext for the enforcement of Book I apply to all Euronext markets (unless otherwise

specified), while those for the enforcement of Book II are specific to local jurisdictions. The

regulators in Belgium, France, the Netherlands, Portugal and the United Kingdom have approved

the market rules, either collectively (Book I) or in respect of their own jurisdiction (Book II).

There are two types of regulated markets organised by Euronext:

Euronext Securities Market (market of stocks, bonds, warrants, ETFs/ trackers, structured funds,

certificates), also known as the Cash market, organised in Amsterdam, Brussels, Lisbon and

Paris.

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Euronext Derivatives Market (market of options, futures, swaps,) organised in Amsterdam,

Brussels, Lisbon, London and Paris.

While the majority of the rules are harmonized and therefore applicable in all the locations

(Amsterdam, Brussels, Lisbon, London and Paris), some are still non harmonized and thereforedifferent from one location to another.

The Euronext rules provided in this section are without prejudice to the provisions of the EU

regulations and the relevant National regulations (Belgian, French, Dutch, Portuguese and UK)

applicable to the Euronext Market Undertaking organising such markets and to the companies

listed on these markets and the members active on them.

Euronext Securities regulation

This subsection gathers the Euronext rules applicable to the Euronext Securities Markets. These

markets are Regulated Markets within the meaning of MiFID.

In addition to Book I, Chapter 4 and 4bis, the Trading Manuals applicable to the platforms NSC

or UTP (Universal Trading Platform) considering the nature of the financial instruments which

have already migrated to the new platform (UTP) gather the rules applicable to the trading in the

Euronext Cash/Securities Markets.

The rules applicable to Multilateral Trading Facilities (MTFs) in the meaning of the MiFID are

presented under the form of Organisational notes/memos for each MTF. The rules of the MTF

may refer to rules applicable to the Regulated markets.

Euronext Derivatives regulation

This subsection gathers the Euronext rules applicable to the Euronext Derivatives markets. These

markets are Regulated Markets in the meaning of the MiFID.

In addition to Book I, Chapter 5, the Trading Procedures gathers the rules applicable to thetrading in the Derivatives markets for both all the locations and for each location.

Daily Trade Statistics in Domestic & US $ Values in Numbers

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Most diverse exchange group, has introduced a global incentive program that increases efficienciesand produces cost-savings for high-volume trading customers whose orders are executed on thecompanys regulated European and U.S. equities markets. The global multi-platform incentiveprogram, which is effective as of Oct. 1, 2008, enables high-volume trading customers to aggregatetrading volume across six of NYSE Euronexts equities exchanges, thereby gaining additional valueand benefits derived from the companys truly global marketplace.

By rewarding our high-volume customers for trading across all of our market centers, we areenabling our customers to derive additional value from our global platform, and encouraging them tosend more orders to our market centers, said NYSE Euronext CEO Duncan Niederauer.Jean-Franois Thodore, NYSE Euronext Deputy CEO said, These benefits will become even moreapparent to customers as we roll out our Multi-Lateral Trading Facility and Universal TradingPlatform in 2009. As this incentive program demonstrates, we intend to further extend the advantagesof our global marketplace with new value-added initiatives for all NYSE Euronext customers.NYSE Euronext cash equities exchanges include the New York Stock Exchange (NYSE), NYSEArca and NYSE Alternext US (formerly the American Stock Exchange) in the U.S. and the Euronextexchanges in Amsterdam, Brussels, Lisbon, and Paris. Over 40% of the worlds cash market tradingtakes place on NYSE Euronexts exchanges, and the exchange groups $155.9 billion average dailyvalue of trading is nearly two and one-half times greater than any other exchange group in the world.

The underlying rates and volume tiers on NYSE, NYSE Arca and NYSE Euronexts Europeanregulated markets remain unchanged.

About NYSE EuronextNYSE Euronext (NYX) operates the worlds leading and most liquid exchange group, andseeks to provide the highest levels of quality, customer choice and innovation. Its family ofexchanges, located in six countries, includes the New York Stock Exchange, the world'slargest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe,Europe's leading derivatives exchange by value of trading; NYSE Liffe, the companys U.S.futures business and NYSE Arca Options, one of the fastest growing U.S. options tradingplatforms. NYSE Euronext offers a diverse array of financial products and services forissuers, investors and

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financial institutions in cash equities, options, futures and derivatives, ETFs, bonds, marketdata, and commercial technology solutions. As the worlds largest exchange group bynumber of listings and market capitalization, NYSE Euronext is home to more than 6,500listed issues (as of Oct. 1, 2008) with total global market capitalization more than four timesthat of any other exchange group. The average daily trading value of NYSE Euronext's equityexchanges represent more than one-third of the world's cash equities trading. NYSE

Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index.For more information and free real-time stock prices for all NYSE-listed securities, please visitwww.nyx.com.Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including forward-looking

statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such

forward-looking statements include, but are not limited to, statements concerning NYSE

Euronexts plans, objectives, expectations and intentions and other statements that are not

historical or current facts. Forward-looking statements are based on NYSE Euronexts current

expectations and involve risks and uncertainties that could cause actual results to differ

materially from those expressed or implied in such forward-looking statements. Factors that

could cause NYSE Euronexts results to differ materially from current expectations include,

but are not limited to: NYSE Euronexts ability to implement its strategic initiatives,economic, political and market conditions and fluctuations, government and industry

regulation, interest rate risk and U.S. and global competition, and other factors detailed in

NYSE Euronexts reference document for 2007 (document de rfrence) filed with the

French Autorit des Marchs Financiers (Registered on May 15, 2008 under No. R. 08-054),

2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities

and Exchange Commission or the French Autorit des Marchs Financiers. In addition, these

statements are based on a number of assumptions that are subject to change. Accordingly,

actual results may be materially higher or lower than those projected. The inclusion of such

projections herein should not be regarded as a representation by NYSE Euronext that the

projections will prove to be correct. This press release speaks only as of this date. NYSE

Euronext disclaims any duty to update the information herein.