Leading US lit venue the New York Stock Exchange (NYSE) increased market share on its two order books, as the soon-to-be combined entity comprising BATS Global Markets and Direct Edge markets experienced a mild dip last month.
Total trading on NYSE’s two markets totaled US$1.01 trillion, giving the exchange group a market share of 25.26% of US equities for November, up from October’s 24.77%, according to data from Thomson Reuters Market Share Reporter.
Combined trading on the two order books operated by Direct Edge and the two operated by BATS Global Markets reached 21.78% of US equities, with US$874.4 billion traded, down slightly from October’s 22.02% of market share in October with US$1.09 trillion traded.
The US Department of Justice in October approved the planned merger of BATS Global Markets and Direct Edge, which now awaits assent from the Securities and Exchange Commission (SEC). The deal is expected to be finalised in the first half of next year, under which Direct Edge’s two order books will continue to operate under the BATS brand.
Nasdaq, currently the second most active exchange in US equities by market share, attracted 17.26% of shared traded, with US$693.03 billion traded, a mild dip from October’s 17.65% market share.
Overall, trading volumes were significantly lower in November compared to October, which had more trading days. Trading for November reached US$4.014 trillion, and in October total volume traded reached US$4.979 trillion. The November figure largely mirrored September’s total trading volume, which reached US$4.002 trillion.