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].
Multi-list options broke nearly all volume records in 2021, driven by the growth of retail participation: daily records (24 of the top 25 volume days of all-time came in 2021), monthly ADV records (April was the only month from 2021 not in the top 12 all-time), and yearly ADV records (37.3M ADV in 2021 was nearly 10M more than in 2020 and double the ADV in 2019).
Increased retail activity in the equities market has affected which stocks are trading the most, and when and where those stocks trade. We’ve previously highlighted retail’s impact on pre- and post-market volume and the opening auction, and now focus on the period immediately after the opening auction. Market participants often avoid this time of day due to higher volatility, an approach worth re-evaluating given current trends.
As the home of ETFs, the NYSE continuously works to strengthen market quality and provide the optimal trading environment for listing and trading ETFs. In April 2021, in service of this goal, the NYSE introduced new requirements and incentives for its industry-leading NYSE ETF Liquidity Program, including the assignment of additional market makers ("Less Active ETF Leads") for new and/or low-volume ETFs.