In June 2004, Instinet's total average daily U.S. equity share volume was 88 million shares, which represents a 2.5% share of the U.S. equity market. This compares to 104 million shares, or 2.7% of the U.S. equity market, in May 2004, and 103 million shares, or 2.5% of the U.S. equity market, in June 2003.
In June 2004, INET's total matched average daily U.S. equity share volume was 451 million shares, or 13.0% of the U.S. equity market. This volume consisted of 392 million shares of NASDAQ-listed stocks, or a 24.5% share of the NASDAQ-listed market, and 59 million shares of U.S. exchange-listed stocks, or 3.1% of the U.S. exchange-listed market.
This compares to INET's total matched average daily share volume of 507 million in May 2004, or 13.4% of the U.S. equity market, consisting of 426 million shares of NASDAQ-listed stocks, or a 25.6% share of the NASDAQ-listed market, and 81 million shares of U.S. exchange-listed stocks, or 3.8% of the U.S. exchange-listed market.
In June 2003, INET's total matched average daily share volume was 549 million shares, or 13.4% of the U.S equity market, consisting of 498 million shares of NASDAQ-listed stocks, or a 24.5% share of the NASDAQ-listed market, and 52 million shares of U.S. exchange-listed stocks, or 2.5% of the U.S. exchange-listed market.
Instinet Group reports additional monthly operating data on its website at www.instinetgroup.com under the heading "Investor Relations - Instinet Trading Activity."
June 2004 | May 2004 | June 2003 (3) | |
# of Trade Days | 21 | 20 | 21 |
Instinet (1) | |||
Total U.S. equity average daily volume (million shares) | 88 | 104 | 103 |
Share of total U.S. equity market | 2.5% | 2.7% | 2.5% |
INET - Matched Average Daily Volume (2) | |||
Nasdaq-listed equity share volume (million shares) | 392 | 426 | 498 |
Share of total Nasdaq market | 24.5% | 25.6% | 24.5% |
U.S. exchange-listed share volume (million shares) | 59 | 81 | 52 |
Share of total U.S. exchange-listed market | 3.1% | 3.8% | 2.5% |
Total U.S. equity share volume (million shares) | 451 | 507 | 549 |
Share of total U.S. equity market | 13.0% | 13.4% | 13.4% |
Monthly totals may not reflect weekly data, which are preliminary. The number of trading days in each period takes account of U.S. market holidays and any other U.S. market closings.
- For a description of how we calculate Instinet's transaction volumes, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Calculation of Volume - Instinet, the Institutional Broker" in our Form 10-Q for the fiscal quarter ended March 31, 2004.
- For a description of how we calculate INET's transaction volumes, see "Management's Discussion and Analysis of Financial Condition and Results of Operations - Calculation of Volume - INET, the Electronic Marketplace" in our Form 10-Q for the fiscal quarter ended March 31, 2004.
- Represents Inet ATS, Inc. volume, including volume from ProTrader Securities L.P. beginning the week ended 10/5/01 through 7/22/03.