SIFMA: how was NYSE’s market share affected by going full electronic?

The ultimate symbol of the coronavirus’ unprecedented impacts is the closing of the floor of the New York Stock Exchange (NYSE) on March 23, 2020. With the floor closure, market participants are wondering if the NYSE is losing trading market share of equity volumes.

The Securities Industry and Financial Markets Association published a report analyzing movements in market shares across parent exchange groups, individual exchange licenses and on versus off exchange trading volumes for the time period.

Prior to the early Easter close week, there was an upward sloping trajectory for NYSE’s aggregated market share from January to that week. Numbers worsened in April, but SIFMA does not view it as a significant degree, given: overall January 2 to April 29 share is down 1.6%, but the numbers fluctuate weekly throughout the time period and other exchanges also see periods of declines (and also swings) throughout the period. However, based on the downward trend at the end of the time period analyzed, SIFMA believes it’s yet to be seen if there will be long-term impacts on NYSE’s market share.

Podcast and summary (with report access link)

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