The Nasdaq Stock Market captured a greater share of trading in NYSE-listed stocks than the New York Stock Exchange (NYSE) for the first time on Friday 11 July, according to parent company Nasdaq OMX.
On Friday, Nasdaq’s share volume in NYSE-listed securities was 1.730 billion, compared with NYSE’s 1.727 billion. Nasdaq’s matched market share in NYSE-listed securities was 25.66%, compared with the NYSE’s 25.61%.
“There has been a sea change in how and where stocks trade, and this is a milestone that speaks to that trend,” said Chris Concannon, executive vice president, transaction services, Nasdaq OMX, in a statement.
During June 2008, Nasdaq’s average daily matched volume in NYSE-listed stocks was a record 1.06 billion shares, a 107% increase over the same period last year. Nasdaq’s matched market share in NYSE-listed securities last month was a record 23.0%, up from 15.9% in June 2007.
Nasdaq’s matched market share in NYSE-listed securities has grown fifteen-fold from 64 million shares per day in June 2005 to 1.06 billion shares per day in June 2008.