Equities LiquidityMatrix September 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. Off-exchange market share in September 2016 decreased 3% month-over-month from 38.4% to 35.5%. While the off-exchange market share hit a 6-year high in August 2016, in September 2016 market share dropped to the lowest since January 2016. Industry average daily volume increased 15% month-over-month in September 2016 to 7.1 billion shares while TABB-reported ATS/SDP volume increased 11% during the same period.