Equities LiquidityMatrix June 2016

Every month, TABB Group’s Equities LiquidityMatrix™ provides the industry with metrics from 25 ATS/SDPs, including stock capitalization distribution, block and demi-block % (shares & notional), midpoint %, and inside NBBO %, as well as a breakdown of exchange market share. Industry average daily volume increased 8% month-over-month in June 2016 to 7.6 billion shares, the highest volume seen in June since 2010. On 6/24/2016, volume reached 15.3 billion shares, the highest daily volume since 8/9/2011, as a result of the Brexit vote on US markets and the Russell rebalance. In June 2016, TABB-reported ATS/SDP volume increased 4% MoM.