Against a backdrop of rising U.S. equity trading volume on the public markets, off-board trading rose in July also.
Tabb group, in its monthly Equities Liquidity Matrix, reported the rise in dark volume was the largest increase since October 2014.
Overall, total U.S. equity trading climbed 5% month-over-month to 6.7 billion from from 6.4 billion, said Valerie Bogard, TABB Group’s research analyst who compiles, analyzes and publishes the Equities LiquidityMatrix
“Year-over-year industry volume increased 18% to the highest July volume in four years.”
Also of Interest:U.S. July Options Volume Up 13% to 379.2 Million Contracts
According to Bogard, TABB-reported ATS/SDP volume increased 16% month-over-month with TABB-reported ATS/SDP volume accounting for 35% of total off-exchange (TRF) volume in July 2015.
Month-over-month, the VIX average close increased from 14.3 to 14.4, the highest since March 2015. During the same period, Bogard added, off-exchange (TRF) volume decreased from 36.5% to 36.4%.
However, year-over-year, the TRF percentage increased 0.2%.
Tabb’s Equities LiquidityMatrix, a monthly publication consolidating metrics from exchanges, Trade Reporting Facilities (TRFs), Alternative Trading Systems (ATSs) and Single-Dealer Platforms (SDPs), includes month-over-month SRO market share and the following self-reported statistics from ATSs and Single Dealer Platforms (SDPs): (1) average daily volume; (2) average trade size; (3) stock capitalization distribution %; (4) block and demi-block % (shares); (5) block and demi-block % (notional); (6) Midpoint % (shares).
