TMX Group Sees Waning Volumes in July, Equities Fall Double Digits

After a strong run in H1 2016, TMX Group dialed up an uneven performance in July in terms of volumes.

TMX Group Limited has reported its monthly trading statistics and figures for July 2016, which includes the aggregated results for the Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange (MX), and NGX. Overall, the group’s volumes were pointed lower during the month, seeing sizable declines across volumes, values, and transactions, according to a TMX report.

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TMX Group and its subsidiaries operate both cash and derivative markets and clearinghouses across multiple asset classes, including equities, fixed income and energy, among others. The network of exchanges had shown a general uptrend in its volumes throughout H1 2016, though this trend did not continue into July

Uneven Performance

During July 2016, TMX and all of its marketplaces saw equities volumes of 11.0 billion, falling by a margin of -20.4% MoM from 13.9 billion in June 2016. Looking at a yearly timetable however, the performance in overall equities volume was inverted into positive territory, rising 8.9% YoY from 10.1 billion in July 2015.

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Across all three exchanges, the total cash value in July 2016 came in at $109.3 billion, falling -25.8% MoM from $147.5 billion in June 2016. The latest cash value in June 2016 across the exchanges edged slightly lower when measured against its 2015 counterpart, retreating less than -8.8% YoY from $119.9 billion in July 2015.

Looking at a year-to-date (YTD) perspective, all three exchanges experienced mixed performances across its overall volume (9.2%), cash value (-1.6%), and transactions (-5.9%).

In terms of specific exchanges, the Toronto Stock Exchange (TSX) experienced a downtrodden performance, netting a volume of $6.6 billion in July 2016, rescinding -24.1% from $8.7 in June 2016, along with a YoY boost of 6.4% from $6.2 in July 2015.

TMX Group made headlines earlier this week when it reported its Q2 financial results, which showed climbing revenues, which were boosted by a drop in operating expenses, en route to a figure of  $194.6 million for the quarter.

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