Instinet's U.S. equity volume in March comprised 3,815 million shares of Nasdaq-listed stocks and 958 million shares of exchange-listed stocks.
Instinet's estimated market share of Nasdaq-listed share volume was 10.8% in March, compared to 11.3% in February and 15.9% in March 2001. Instinet's estimated market share of exchange-listed share volume was 2.9% in March, compared to 3.2% in February and 2.9% in March 2001.
There were 20 trading days in March, compared to 19 trading days in February 2002 and 22 trading days in March 2001.
Instinet's weekly, monthly and quarterly share volumes are available on its web site at www.instinet.com.
Instinet has experienced significant seasonality in its business, and period-to-period comparisons of operating results are not necessarily meaningful, nor are the results for any period necessarily indicative of results for any future period.
| Total U.S. Equity Share Volume (million shares) | ||||
| # Trade Days | Nasdaq-quoted* | Exchange-listed | Total | |
| March 2002 | 20 | 3,815 | 958 | 4,773 |
| February 2002 | 19 | 3,904 | 1,039 | 4,943 |
| March 2001 | 22 | 7,249 | 928 | 8,177 |
*For a description of how we calculate our Nasdaq volumes, see "Management's Discussion and Analysis of Financial Condition and Results of Operations-Key Statistical Information-Nasdaq Volume Calculations" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2001.
About Instinet
Instinet, through affiliates, is the largest global electronic agency securities broker and has been providing investors with electronic trading solutions for more than 30 years. Our services enable buyers and sellers worldwide to trade securities directly and anonymously with each other, have the opportunity to gain price improvement for their trades and lower their overall trading costs. Through our electronic platforms, our customers also can access over 40 securities markets throughout the world, including Nasdaq, the NYSE and stock exchanges in Frankfurt, Hong Kong, London, Paris, Sydney, Tokyo, Toronto and Zurich. We also provide our customers with access to research generated by us and by third parties, as well as various informational and decision-making tools. Unlike most traditional broker-dealers, we act solely as an agent for our customers and do not trade securities for our own account or maintain inventories of securities for sale. For more information, please go to www.instinet.com.
