News Releases

NYSE Euronext, Virtua Research Initiate Project to Boost Independent Research Coverage of Listed Issuers
--Online Equity Research Of NYSE- and NYSE Amex-Listed Issuers Accessible to All Investors--

NEW YORK , May 28, 2009 – NYSE Euronext (NYX) and Virtua Research today announced they initiated a project to facilitate more independent research of NYSE- And NYSE Amex-listed companies.

Under the arrangement, NYSE Euronext enables Virtua Research to offer independent research coverage for an initial group of NYSE- and NYSE Amex-listed companies through interactive financial modeling tools that are accessible to all investors.

“The Virtua Research service helps enhance the information and transparency of our listed issuers and helps investors make more informed decisions,” said Joe Mecane, EVP and Chief Administrative Officer, U.S. Markets, NYSE Euronext. “Providing a transparency tool that brings issuers and investors closer together is an important goal of NYSE Euronext and we look forward to a collaborative partnership with Virtua Research.”

"We are excited to collaborate with the NYSE in providing a novel research solution for these listed companies. We appreciate the vision of the exchange in recognizing the value of independent research. This is an opportune time to introduce innovative and cost effective research that benefits both companies and investors," said Andy Detwiler, Co-Founder of Virtua Research.

Virtua Research is based on the premise of utilizing the Internet to make the research and financial analysis more readily available to all investors. Relying on public information such as 8-K, 10-K and 10-Q filings as well as transcripts of quarterly earnings call, the 200 research analysts at Virtua Research provide a financial model with base-line data for a selected company’s revenues, earnings, earnings per share and a range of analytical tools enabling peer comparisons. Unlike major investment banks and Research Analysts reports, Virtua Research tools do not offer “Buy”, “Sell” or “Hold” recommendations, but leave it up to the investor’s own data inputs to project numerical outcomes for a company’s stock price.

Online research reports on the initial group of companies can be accessed from the websites of NYSE Euronext and Virtua Research. Additional distribution agreements have been signed with Capital IQ, and with other platforms to be announced.

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Investors interested in the Virtua Research product, or in building a financial model for their select company and peer group companies, please contact Andy Detwiler, 617 426 0900 at Virtua Research.

Financial journalists interested in an on-line demo of the Virtua Research tool, please contact Christiaan Brakman, NYSE Euronext, 212-656-2094 or

About NYSE Euronext

NYSE Euronext (NYX) is the world’s most diverse exchange group, offering a broad and growing array of financial products and services in Europe and the United States that include cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions.  With over 8,000 listed issues globally, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex -- represent nearly 40% of the world's cash equities trading volume, the most liquidity of any global exchange group.  NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world’s second largest derivatives business by value of trading.  NYSE Euronext offers comprehensive global commercial technology, connectivity, and market data products and services through its innovative trading solutions unit, NYSE Technologies.  NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index.  For more information, please visit:

About Virtua Research

Virtua Research is a financial services technology company whichdevelops and builds leading-edge research modeling tools and products. Its deep domain expertise in sophisticated financial modeling technology and platform-based software analytics combine to give investors state-of-the-art fundamental research tools that add significant value. Virtua offers stand-alone products for institutional investors, as well as customized, partnered solutions for third-party data providers.
With offices in Boston and India , Virtua Research is committed to world-class client service.   For more information, please go to:


Contact: Christiaan Brakman
Phone: 212-656-2094