ITG, an , published its preliminary monthly trading volumes for August 2018 today. Despite there being two extra trading days during August this year than there was in the previous month, US trading volume experienced a month-on-month and year-on-year drop.
Specifically, during August of this year, was 2.6 billion shares and the average daily volume (ADV) was 114 million shares. This is in comparison to July of 2018, which saw 2.7 billion shares traded during the month. As a percentage, this is around 4 per cent more than in August. As a result, ADV for the month was 127 million shares traded in July. During August, the average US revenue per share was around 4 per cent less than the average in the second quarter of 2018.
Looking at August last year, there was a total of 2.7 billion shares were traded during the month. This is also around 4 per cent more than August of this year. For the same period last year, the ADV was 117 million shares. It is important to note that both periods had the same number of trading days.
ITG’s POSIT Alert, an indications matching network that notifies interested buy-side institutions of a block-size trading opportunity, saw an average daily volume of 12.3 million shares. This is 1.7 million or 14 per cent less than August’s 2017 data.
International trading activity was also down in August
Moving on to international trading activity, trading commissions during the month in ITG’s Canadian, European and Asia Pacific business was also down by around 18 per cent combined in US dollar terms. This is in comparison to the second quarter of this year.
However, when compared to the same time period last year, combined, international trading commissions were up by 6 per cent. On an international basis, there were around 22 trading days in both August of this year and 2017.
ITG is an company that assists brokers and asset managers to improve returns for investors. The firm has offices in Asia Pacific, Europe, and North America and offers its services in more than 50 countries.
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