2.0.0.10 false Derivatives and Hedges 0209 - Disclosure - Derivatives and Hedges true false false false 1 usd $ false false USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 USDEPS Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 Derivatives and Hedges [Abstract] 0 us-gaap_DerivativeInstrumentsAndHedgesAbstract us-gaap true na duration string No definition available. false false false false false true false false false false false false 1 false false false false 0 0 false false false No definition available. false 3 Derivatives and Hedges 1 us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock us-gaap true na duration string No definition available. false false false false false false false false false false false verboselabel false 1 false false false false 0 0   <div style="font-family: 'Times New Roman',Times,serif"> <div align="left" style="font-size: 10pt; margin-top: 12pt"><b>Note 9—Derivatives and Hedges</b> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">NYSE Euronext may use derivative instruments to hedge financial risks related to its financial position or risks that are otherwise incurred in the normal course of its operations. NYSE Euronext does not use derivative instruments for speculative purposes and enters into derivative instruments only with counterparties that meet high creditworthiness and rating standards. NYSE Euronext adopted the Subtopic 65 in the Derivatives and Hedging Topic of the FASB Accounting Standards Codification on January 1, 2009. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">NYSE Euronext records all derivative instruments at fair value on the condensed consolidated statement of financial condition. Certain derivative instruments are designated as hedging instruments under fair value hedging relationships, cash flow hedging relationships or net investment hedging relationships. Other derivative instruments remain undesignated. The details of each designated hedging relationship are formally documented at the inception of the relationship, including the risk management objective, hedging strategy, hedged item, specific risks being hedged, derivative instrument, how effectiveness is being assessed and how ineffectiveness, if any, will be measured. The hedging instrument must be highly effective in offsetting the changes in cash flows or fair value of the hedged item and the effectiveness is evaluated quarterly on a retrospective and prospective basis. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">The following presents the aggregated notional amount and the fair value of NYSE Euronext’s derivative instruments reported on the condensed consolidated statement of financial condition (in millions): </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="54%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="10%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> <td width="5%"> </td> <td width="3%"> </td> <td width="1%"> </td> <td width="3%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td> </td> <td> </td> <td nowrap="nowrap" align="center" colspan="3"><b>Notional</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="7"><b>Fair Value of Derivative Instruments</b></td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 1px solid #000000"><b>March 31, 2010</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Amount</b></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Asset</b><sup style="font-size: 85%; vertical-align: text-top"><b>(1)</b></sup></td> <td> </td> <td nowrap="nowrap" align="center" colspan="3" style="border-bottom: 1px solid #000000"><b>Liability</b><sup style="font-size: 85%; vertical-align: text-top"><b>(2)</b></sup></td> </tr>   <tr valign="bottom" style="background: #cceeff"> <td style="border-top: 1px double #000000"> <div style="margin-left:15px; text-indent:-15px">Derivatives not designated as hedging instruments </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:30px; text-indent:-15px">Foreign exchange contracts </div></td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">376</td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">5</td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">—</td> </tr> <tr valign="top" style="font-size: 1pt"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> <td align="right" style="border-bottom: 1px solid #000000"> </td> </tr> <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr valign="bottom" style="background: #cceeff"> <td> <div style="margin-left:15px; text-indent:-15px">Total derivatives </div></td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">376</td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">5</td> <td> </td> <td align="left">$</td> <td> </td> <td align="right">—</td> </tr> <tr valign="top" style="font-size: 1pt"> <td> <div style="margin-left:15px; text-indent:-15px">  </div></td> <td> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> <td align="right" style="border-bottom: 3px double #000000"> </td> </tr>  </table> </div> <div align="left"> <div style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">  </div> </div> <table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; text-align: left"> <tr> <td width="3%"></td> <td width="1%"></td> <td width="96"></td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(1)</td> <td> </td> <td>included in “Financial investments” in the condensed consolidated statement of financial condition.</td> </tr> <tr style="font-size: 3pt"> <td> </td> </tr> <tr valign="top"> <td nowrap="nowrap" align="left">(2)</td> <td> </td> <td>included in “Short term debt” in the condensed consolidated statement of financial condition.</td> </tr> </table> <div align="left" style="font-size: 10pt; margin-top: 6pt">Pre-tax gains and losses on derivative instruments affecting the condensed consolidated statement of operations for the three months ended March 31, 2010 was as follows (in millions): </div> <div align="center"> <table style="font-size: 10pt; text-align: left" cellspacing="0" border="0" cellpadding="0" width="100%">  <tr valign="bottom"> <td width="48%"> </td> <td width="25%"> </td> <td width="5%"> </td> <td width="5%"> </td> <td width="3%"> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left"><b>Derivatives not</b></td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left"><b>designated as hedging</b></td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="font-size: 8pt" valign="bottom"> <td nowrap="nowrap" align="left" style="border-bottom: 1px double #000000"> <div style="border-bottom: 0px solid #000000; width: 0%"><b>instrument</b> </div></td> <td> </td> <td nowrap="nowrap" align="left" colspan="4" style="border-bottom: 1px solid #000000"><b>Gain/(loss) recognized in income</b></td> </tr>   <tr valign="bottom"> <td> <div style="margin-left:15px; text-indent:-15px">Foreign exchange contracts </div></td> <td> </td> <td align="right">$</td> <td align="right">4</td> <td> </td> </tr>  </table> </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">For the three months ended March 31, 2010, NYSE Euronext had euro/U.S. dollar and sterling/U.S. dollar foreign exchange contracts in place with tenors less than 3 months in order to hedge various financial positions. These swaps were not designated as hedging instruments under the Derivatives and Hedging Topic. As of March 31, 2010, NYSE Euronext had a £85 million ($126 million) sterling/U.S. dollar foreign exchange swap outstanding with a positive fair value of $3 million and a €186 million ($250 million) euro/U.S. dollar forward contract outstanding with a positive fair value of $2 million. These instruments matured in April 2010. For the three months ended March 31, 2010, the cumulative net gain recognized under foreign exchange contracts in “Other income” in the condensed consolidated statement of operations amounted to $4.0 million. </div> <div align="left" style="font-size: 10pt; margin-top: 6pt">For the three months ended March 31, 2010, NYSE Euronext had no derivative instruments in fair value hedging relationship, cash flow hedging relationship and net investment hedging relationship. </div>   </div>  <div style="font-family: 'Times New Roman',Times,serif"> </div>  <!-- Begin Block Tagged Note false false false This element can be used to disclose the entity's entire derivative instruments and hedging activities disclosure as a single block of text. 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