In AMEX-listed equity securities, ArcaEx's total trading market share was 29.1% in June 2005, up from 24.8% in June 2004 and down from 31.0% in May 2005. ArcaEx's ETF total monthly share volume showed continued year-over-year growth with 1,993.7 (millions of shares) having traded in June 2005 compared to 1,117.9 (millions of shares) traded in June 2004 and down from 2,008.0 (millions of shares) in May 2005.
In Nasdaq-listed equity securities, ArcaEx's total trading market share was 22.7% in June 2005 down from 24.9% in June 2004 and 23.1% in May 2005.
ArcaEx Transaction Volume Data
June May June
2005 2005 2004
Total monthly volume of Nasdaq-listed
equity securities (millions of shares) 39,286.3 35,677.0 34,089.0
ArcaEx monthly volume of Nasdaq-listed
equity securities (millions of
shares)(1) 8,900.9 8,241.3 8,473.7
ArcaEx share of total monthly volume
of Nasdaq-listed equity
securities(%)(2) 22.7% 23.1% 24.9%
Total monthly volume of NYSE-listed
equity securities (millions of shares) 42,587.5 40,613.9 35,512.6
ArcaEx monthly volume of NYSE-listed
equity securities (millions of
shares)(1) 1,397.5 1,396.4 524.4
ArcaEx share of total monthly volume
of NYSE-listed equity
securities (%)(2) 3.3% 3.4% 1.5%
Total monthly volume of AMEX-listed
equity securities (millions of shares) 5,540.7 5,224.7 5,446.3
ArcaEx monthly volume of AMEX-listed
equity securities (millions of
shares) (1) 1,614.0 1,619.4 1,351.4
ArcaEx share of total monthly volume
of AMEX-listed equity
securities (%)(2) 29.1% 31.0% 24.8%
ArcaEx ETF total monthly share volume
(millions of shares)(1) 1,993.7 2,008.0 1,117.9
ArcaEx monthly customer order volume
matched internally(%)(3) 89.0% 88.9% 86.7%
ArcaEx monthly customer order volume 11.0% 11.1% 13.3%
routed out (%)(3)
Number of trading days in period 22 21 21
ArcaEx Most Active June 2005
Symbol Share Volume Market Share
Nasdaq-100 Index(R) (QQQQ) 565,502,259 28.9%
SPDR(R) (SPY) 311,680,472 28.3%
Semiconductor Holdrs(SM) (SMH) 268,277,700 49.9%
Intel(R) (INTC) 261,597,417 21.8%
Microsoft(R) (MSFT) 257,983,456 19.1%
Cisco Systems(R) (CSCO) 204,449,082 18.7%
Oracle(R) (ORCL) 198,085,708 20.4%
Sun(R) Microsystems (SUNW) 179,915,861 16.1%
iShares Russell 2000 Index (IWM) 162,534,815 42.4%
Sirius Satellite(R) (SIRI) 137,899,996 15.1%
Additional information on ArcaEx daily, weekly and monthly trading transaction volumes is publicly available in real time through the ArcaVision website accessible via http://www.archipelago.com. Additional data and enhanced functionality can be obtained through a free subscription to ArcaVision. Investors and ArcaEx clients can subscribe to ArcaVision at http://www.arca-vision.com.
- For purposes of calculating monthly transaction volume on ArcaEx, we include all shares that are “handled” on ArcaEx for the month. Handled shares include both shares that are bought and sold during the month within our internal liquidity pool and shares that are routed to external market centers for execution.
- ArcaEx monthly market share is calculated based on the number of shares handled on the ArcaEx system during the month as a percentage of total monthly volume. Total monthly volume is based on the number of shares of equity securities traded during the month on Nasdaq, AMEX or the NYSE, including, if applicable, exchange-traded funds, as reported in the consolidated tape. The “consolidated tape” provides last sale price and volume of equity securities transactions to the public.
- In computing the percentage of monthly client order volume matched internally and the monthly percentage of customer order volume routed out, we calculate the percentage based on the volume of individual customer orders, not the volume of matched trades (i.e., only counting one side of a matched transaction). For example, we calculate two customer orders matched internally on our system as two customer orders matched internally, and we include the volume of both the buy order and the sell order in computing our percentages of monthly customer order volume matched internally and routed out. We calculate one customer order routed to an external market center (which will be matched with an order at that other market center) as one outbound trade or one customer order. We calculate one customer order routed to us from an external market center and matched with an order on our system as one inbound trade or one customer order.
