M-210 Value & Volume of Option Trading by Ex. SECURITIES OFFERINGS STATISTICS M-310 Corp. Securities by Type of Offering M-410 M-420 SECURITIES REGISTRATION STATISTICS Registratns, Non-Cash Issues, Withdrwls 21 23 25 28 29 30 31 32 33 38 39 Inquiries concerning these data should be directed to: Karen E. Atkinson, Associate Editor. Dear Reader: I am pleased to introduce the SEC Monthly Statistical Review which replaces the Statistical Bulletin. The change in title brings with it a number of changes resulting from the ongoing efforts of the Commission to improve the quality of its publications and statistical series. This publication now includes: (1) a Highlights page providing an analytical description of the key data developments presented in each issue; (2) a list of research studies released by the Commission, as well as other SEC publications; (3) Executive Summaries from recent Commission studies; and (4) expanded Explanatory Notes. Some changes have also been made to the statistical tables included in the publication. The table entitled "NYSE Volatility and Liquidity" will now be published quarterly instead of monthly; data through third quarter 1980 will appear in the October issue. The monthly "ExchangeTraded Options" tables have been expanded to include puts. The data on put options will be similar to the data on call options. In addition, the table numbers have been changed in conformity with a revised numbering system which will make it easier to locate specific types of data within the publication. One additional change is planned for the November 1980 issue. The following tables will no longer be published: (1) Selected Stock Market Indicators (M-140); (2) Daily Share Volume in NYSE-Listed Stocks by Market (M-150); and (3) Percentage of Monthly Share Volume in NYSE-Listed Stocks by Market (M-155). The data used in compiling these tables is readily available in daily newspapers and financial publications. Therefore, we believe that it is unnecessary and inefficient to continue publication of these tables. Their discontinuance, however, will be delayed until the November 1980 issue in order to provide readers an opportunity to comment specifically on such discontinuance. I invite your comments on any of the changes and your suggestions for additional ways to make the data contained in the SEC Monthly Statistical Review more useful and meaningful. Please address your comments to the Editor of the SEC Monthly Statistical Review, Hajo Lamprecht, 500 North Capitol Street, Washington, D.C. 20549. Aldward key Steven Edward Levy, Director Directorate of Economic and Policy Analysis Revised Numbering System for Tables Within the Publication The table numbers have been changed to make it easier to locate specific types of data within the publication. Each table has been assigned a three-digit number. The first digit of the table number indicates the general category of the data: 1 = market statistics, 2 = options data, 3 = offering data, 4 = registration data, 5 = institutional data, and 6 = broker-dealer data. The middle digit of the table number indicates a specific statistical series within the general category and the last digit indicates a subset or variation of the data in that statistical series, if any. As before, the table numbers will be prefixed by an "M", "Q", "S", or "A" to indicate the cycle of the table: monthly, quarterly, semi-annual or annual, respectively. Offering Statistics Gross proceeds from primary corporate securities offerings in May 1980 reached a record $9.0 billion. The $3.8 billion increase in primary securities offerings registered under the Securities Act of 1933 easily offset the $0.5 billion decline in privately placed securities. Increases of $2.7 billion in public non-convertible bond offerings and of $1.1 billion in common stock offerings contributed to the total of $8.5 billion in registered primary securities offerings. The total market value of effective registrations remained relatively stable at $13.8 billion. Among its components, however, debt offerings registered for cash sale increased $2.7 billion, warrants and other equities increased $0.5 billion, seasoned common stock increased $1.0 billion, and reserve for conversions increased $0.7 billion, offsetting the declines in employee savings and thrift plans of $2.8 billion and in dividend reinvestment plans of $1.8 billion. The increase in the amount of non-convertible debt can be attributed to improved credit conditions reflected in a sharp drop in interest rates. Improved stock market conditions contributed to the increases in registered common stock issues. Market Statistics Market value of equity sales on U.S. securities exchanges in June 1980 was $35.8 billion, a 20% increase fran May. Market value of stocks increased 20%, options increased 29%, warrants declined 47%, and rights increased nearly sevenfold. The volume of exchange-traded call options in June 1980 increased 10% from the previous month to 5.4 million contracts with a market value of $1.9 billion; put volume increased 34% to 1.3 million contracts with a market value of $0.3 billion. The Chicago Board Options Exchange ("CBOE") accounted for 54% and 64% of the total contract volume in calls and puts, respectively, compared with 50% and 58% in May 1980. The increase in the CBOE's market share is partly attributable to the merger of the Midwest Stock Exchange's options trading floor with the CBOE on June 2, 1980. Contract sales in options expiring in July 1980 and August 1980 dominated the trading in June. July 1980 calls and puts comprised 32% and 40%, respectively, of the volume in June, and August 1980 calls and puts accounted for 23% and 20%, respectively, of the total volume. Special Features At the end of 1979, aggregate assets of private and public pension funds consisted largely of $196.7 billion in corporate bonds, $175.5 billion in corporate stock, and $126.9 billion in U.S. Government securities. Mortgages |