Turning the Volume Down: June Swoon in Stocks
July 7, 2010
NYSE Euronext said Wednesday that its three U.S. stock markets – the New York Stock Exchange, NYSE Arca and NYSE Amex -- handled an average of 3.0 billion shares every day in June.
That was down 6.9 percent from a year ago and 21.5 percent from May.
In Europe, its ‘cash products” business handled 1.6 million transactions. That was up 18.4 percent from a year ago – but down 22.9 percent from the prior month, May.
The drops were in keeping with an overall slide in trading in U.S. equities, as summarized by the Exchange Weekly Volume Tracker. According to the tracking service, U.S. equity cash volumes were down 4 percent year over year and 23 percent from May. Tape A was down 3 percent year over year, Tape B 16 percent and Tape C 8 percent.
U.S. options volume was down 2 percent year over year and 31 percent from May, according to the tracker maintained by the Equity Research Desk.
Earlier this week, NYSE Euronext said its European dark market, SmartPool, produced matched volume of 5.7 billion euros in the second quarter. That was a gain 0f 4723 percent.
And NYSE Euronext’s derivatives business in Europe increased 2.6 percent from a year earlier, to 4.7 million contracts in June. But that was down 44.1 percent from May.
Meanwhile:
• BIDS Trading, an alternative system for trading in large blocks of stock, said its dark pool traded a record 44 million shares a day in the second quarter. That was up 56 percent from the prior quarter and more than double a year ago.
• TMX Group said trading volume at its Montreal Exchange was up 32.2% year-to-date but volume on the Toronto Stock Exchange was “somewhat lower.” Toronto traded 8.0 billion shares in June, compared to 9.3 billion in May and 10.9 billion in June 2009.
• IntercontinentalExchange said the cumulative gross notional value cleared by its credit default swap clearing houses surpassed $10 trillion during the week ending July 2. ICE started clearing swaps in 2009.
