The U.S. equity market ended 2015 on a high note, with one consultancy noting that industry volume was up 5% versus November and up on a year-over-year basis.
According to the December 2015 TABB Equities LiquidityMatrix (ELM), industry average daily volume (ADV) in December 2015 was 7.2 billion shares. Month-over-month volume increased 5%, says Tabb Group equities research analyst Valerie Bogard, who manages the ELM, and the Federal Reserve rising interest rates created the second highest trading day of the year.
The second highest trading day of the year occurred on December 18th, with 12.8 billion shares, due to the Federal Reserve raising interest rates.
Also, Tabb reported ATS/SDP volume increased 1% month-over-month. Tabb -reported ATS/SDP volume accounted for 33% of total off-exchange volume in December 2015 (see Slide 2 for non-TABB reporting ATSs).
This comes amid the backdrop of the month-over-month the VIX average close increased from 16.2 to 18.0. During the same period, off-exchange volume increased slightly from 36.1% to 36.2%.