Equities LiquidityMatrix December 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 decreased 13% month-over-month in December 2016 to 6.9 billion shares. Year-over-year December volume was down 4%. In December 2016, off-exchange market share hit 38.2%, the highest monthly average since August. TABB-reported ATS/SDP volume decreased 20% month-over-month in December 2016.