NASDAQ’s Cash Equity Volumes Continue To Decline In October
NASDAQ (NASDAQ:NDAQ) has witnessed yet another month of low cash equity trading volume, with 23% and 15% year over year decline in the U.S. and Europe, respectively in October. Cash equity trading, which contributes around 33% of the overall revenue, has suffered headwinds amid intense competition and weak market conditions in the U.S. NASDAQ’s market share in the U.S. cash equity market has declined by over 300 basis points since the beginning of 2015. However, with the improvement in macro conditions and the recently concluded U.S. election, we expect trading volumes to gain pace.
Amid political uncertainty and stiff competition in parts of Europe, cash equity volumes have continued to fall through most of the year. Additionally, the market share has declined by more than 700 basis points since 2015 beginning. The European volumes are likely to remain suppressed with macroeconomic uncertainty to prevail in the near term.
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