As trading platforms proliferate, investors’ search for the best available prices has grown more complex. Now, a new study shows that the scale and liquidity of NYSE’s equity exchanges underpin a data feed that outperforms major peers.
Consider this: NYSE Group lists over half of all US listed equities, including corporate issues, SPACs and ETFs. Trading on NYSE Group exchanges plus the FINRA/NYSE TRF accounts for over 31% of all trading activity.
The NYSE Best Quote and Trades (BQT) data feed allows investors to benefit from this scale and diversity of liquidity. NYSE BQT provides a unified view of the real-time Level 1 market data at a cost-effective rate, using the combined data of all five NYSE equity exchanges and the NYSE TRF in one feed. Additionally, NYSE BQT is enriched with key supplemental data such as primary market closing prices, real-time total consolidated volume and trading halts.
NYSE recently commissioned noted consultancy firm Jordan & Jordan to compare indicative prices available on NYSE BQT to similar products from Nasdaq and Cboe. This exhaustive study analyzes securities by listing market, average volume, and security type - finding NYSE BQT has the best available indicative prices in the market across more categories than competing products. For example, the NYSE BQT product shows quotations at the best prices across all securities in the market more frequently than other products or individual venues.
To learn more about NYSE BQT please reach out to [email protected].
Following the record-setting 40.1 million average daily volume (ADV) in the 1st quarter of this year, Q2 2021 options volume was the 2nd highest of all-time with 37.6 million contracts traded per day. Robust volume was driven in part by market anticipation of a potential earlier rise in interest rates and Fed tapering, as well as increased volume in options on new issues and continued activity in retail-focused stocks.
After-hours trading has been a larger piece of the total trading volume since the onset of the pandemic, with retail presence growing stronger and earnings announcements becoming less of a factor. In this post, we examine the impact of these shifting dynamics on after-hours price discovery and order behavior.
The surge in market volatility and trading volumes since the onset of the pandemic in March 2020 has impacted numerous aspects of equity market trading. One less-studied area has been after-hours trading. After-hours has also seen changes in order flow trends and influences, and here we examine trends and shifts occurring in these sessions.