The Nasdaq OMX announced that it has captured for the first time a greater share of trading in NYSE-listed stocks than the New York Stock Exchange.
On Friday, July 11, Nasdaq’s matched share volume in NYSE-listed securities was 1.730 billion compared to the NYSE’s 1.727 billion. NASDAQ’s matched market share in NYSE-listed securities was 25.66 percent, compared with the NYSE’s 25.61 percent.
The record volume and percentage defines a trend of increased trading of NYSE-listed companies on the rival Nasdaq market. During June 2008, Nasdaq’s average daily matched volume in NYSE-listed stocks was a record 1.06 billion shares, a 107 percent increase compared with the same period last year. Nasdaq’s matched market share in NYSE-listed securities last month was a record 23.0 percent, up from 15.9 percent in June 2007.
Nasdaq’s matched market share in NYSE-listed securities has grown fifteen-fold from 64 million shares per day in June 2005 to 1.06 billion shares per day in June 2008.
“There has been a sea change in how and where stocks trade, and this is a milestone that speaks to that trend,” said Chris Concannon, Executive Vice President, Transaction Services, Nasdaq OMX.
To view a graph highlighting NASDAQ’s growth in trading NYSE-listed securities over the past three years, click here.
For more information about these and other NASDAQ Stock Market performance statistics, click here.