|[July 28, 2014]
TABB Group Issues First in Series of Quarterly US Equity Volume Market Metrics Reports
NEW YORK & LONDON --(Business Wire)--
Encouraged by SEC (News - Alert) Chair Mary Jo White's 13
directives to enhance US equity market structure through
"clear-eyed, unbiased, fact-based assessments," TABB Group has issued
the first in a series of comprehensive, quarterly US equity volume market
According to senior
research analyst Sayena Mostowfi, who initiated the series and
authors the report, "US
Equity Market Structure: Q1-2014 Market Metrics," TABB combined data
from the SEC market structure website, Rule 605 and 606 disclosure
documents, self-reported dark pool volumes and SIP data to present a
comprehensve breakdown of US equity volume.
"We believe that dark volume consists of retail wholesalers, dark ATSs,
hidden exchange and Single-Dealer Platforms (SDPs)," says Mostowfi, who
defines 'dark pools' as dark ATSs and SDPs. In Q1-2014, dark volume and
dark pools accounted for 43.6% and 17.2% of industry shares
respectively. Dark pool volume consisted of 84.3% dark ATS and 15.7
SDPs. In the same time period, she says, lit exchange and lit ATS
accounted for 56.4% of industry volume.
The 17 exhibits in the highly detailed 18-page report include:
Historical On- & Off-Exchange Landscape
Historical SRO Market Share
Historical Off-Exchange Volume
Off-Exchange Broker-Dealers & ATSs
US Equity Volume by Tape
Share Volume Distribution by Tape: Q1-2014
Share Market Share by Tape: Q1-2014
US Equities Volume Breakdown
US Equities Volume Breakdown (Estimated): Q1-2014
Exchange Volume Breakdown: Q1-2014
Dark Volume Breakdown: Q1-2014
Dark ATS Market Share: Q1-2014
Lit ATS (ECN) Market Share: Q1-2014
SDP Market Share: Q1-2014
Retail Wholesaler Market Share: Q1-2014
Retail Order Routing
Top 5 Retail Wholesaler Acquisition
Select Retail Firms Order Routing: Q1-2014
Exchange Order Types
NYSE ARCA Order Type Usage: Q1-2014
BATS (BZX & BYX) Executed Shares % Exchange Order Types: Q1-204
The Q2-2014 Market Metrics report will be published in August, 2014.
The new report can be downloaded by TABB Research
Alliance Equity clients and qualified media at http://www.tabbgroup.com/Login.aspx.
Summary can be seen at www.taggroup.com.
To purchase the study, write to firstname.lastname@example.org.
About TABB Group
Based in New York and London, TABB
Group is the research and consulting firm focused exclusively
on capital markets, based on the interview-based, "first-person
knowledge" research methodology developed by Larry Tabb.
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