Nasdaq’s July Metrics a Mixed Bag, FICC Strikes 2016 Lows

Despite a strong reading of equity derivatives, July 2016 saw a rampant decline across key figures.

Nasdaq (Nasaq:NDAQ), the second-largest exchange in the world by market capitalization, has released its monthly composite of trading volumes and metrics for the month ending July 2016, which built on last month’s rise to orchestrate its strongest performance of 2016, en route to fresh highs, per a recent Nasdaq statement.

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In July 2016, Nasdaq saw a consecutive monthly growth across its equity derivatives business – this was indicated by a figure of 110.0 million contracts, surging by a margin of 35.8% MoM from 81.0 million contracts in June 2016, its new highest performance to date in almost two years. The latest measure also beat June’s figure of 81.0 million, which also was a new high in 2016.

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Nasdaq’s July figures are also noticeably improved when measured across a yearly timeframe, with the latest reading reflective of a growth of 41.0% YoY from 78.0 million contracts in July 2015.

The narrative was quite the opposite in Europe over the same period, with Nasdaq’s European equity derivatives seeing a massive pullback, reporting just 5.9 million contracts in July 2016, down -53.9% MoM from 12.8 million contracts in June 2016. This collapse was also lower YoY by a factor of -11.9% from 6.7 million contracts in July 2015.

FICC Business Dives MoM

Nasdaq’s July 2016’s figures were markedly lower across its Fixed Income, Currencies and Commodities business (FICC). As such, US fixed income volume (in billion USD traded) yielded $1,606 for the month ending July 2016 – its lowest outcome in 2016. This justified a drop of -15.9% MoM from $1,909 in June 2016 – the latest figures also show a fall of -39.7 YoY from $2,664 in June 2015, one of the month’s lone blemishes.

In terms of European fixed income, July 2016’s readings were also downtrodden, showing a decline in its volumes MoM. July 2016 saw just 1.2 million contracts, down -33.3% MoM from 1.8 million contracts in June 2016 and down -40.0% YoY from 2.0 million contracts in July 2015.

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