ECN's have quietly captured more than half the trading volume of LISTED stocks.

Discussion in 'Order Execution' started by Rearden Metal, Sep 6, 2007.

Where do you do most of your volume in listed (NYSE) stocks.

  1. I don't trade listed stocks.

    4 vote(s)
  2. At the NYSE

    16 vote(s)
  3. At ARCA

    11 vote(s)
  4. At Nasdaq

    11 vote(s)
  5. At some other ECN

    6 vote(s)
  1. The NYSE threw the specialists to the wolves, but it was too little, too late. The NYSE has now lost most of the trading volume <b>in their own stocks</b>.

    For those who haven't yet noticed the ECNs' quiet coup, here are a few sample statistics on today's volume:

    XOM- Total volume: 19.4 million shares. NYSE volume: 7.3 million shares.

    SLB- Total volume: 10.9 mil shares. NYSE volume: 4.6 mil shares.

    CFC- Total volume: 22.2 mil shares. NYSE volume: 6.5 mil shares.

    NEM- Total volume: 14.9 mil shares. NYSE volume: 6.9 mil shares.

    And the ultimate insult...
    NYX- Total volume: 1.7 mil shares. NYSE volume: 0.7 mil shares.

    These stocks are not exceptional at all- They represent the current norm. I could have picked five different active stocks, and the volume ratios would look the same.

    Poor NYSE. :p

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    (World's smallest violin.)
  2. Evolve or die...
    It applies to every business in the world.

    If you are standing still...
    Then you are actually losing ground fast.
  3. But you should of added in the Arca volume too....they are still losing market share, but you have to count the ARCA volume. The NYSE has lost all practically all differentation from NASDAQ or the ECN's. The ECN's are often a cheaper way to execute and all have access to the NYSE quote. So why go to the NYSE !!!
  4. Arca is owned by NYSE and NASDAQ owns INET I think, so it really does not matter, either way the exchanges get theirs..
  5. so when you say they are losing market share you have to include ARCA'a volume with the NYSE's , because they own ARCA....

    it's not rocket science
  6. rayl


    I think the rise of BATS is the incredible story -- no one thought there was room for a new player and that it'd be consolidation only..... then came BATS.
  7. mnx


    who in their right mind trades on arca anyways?????

    they have the worst take fee of all ECN's and the lowest rebate.....

    -- mnx
  8. rayl


    Wow, your words really have impact as I see the Arca rebates are being raised....!
  9. And so are the fees....
  10. Not everyone is rebate trading stock, plenty of volume goes to Arca for Joe and Jane retail buying shares here and there. If NYSE is losing volume but ARCA gets a lot then NYSE is still doing fine.
    #10     Sep 12, 2007