TMX’s Equities Turnover Trends Lower in April, Dictated by Lower Volatility

The exchange's equities figures retreated over a monthly and yearly basis, attesting to a lackluster April.

TMX Group Limited, operator of the Toronto Stock Exchange and the four marketplaces TSX Venture Exchange, TMX Select, Alpha, Montreal Exchange (MX) and NGX, has reported its aggregated trading metrics for April 2017. The latest metrics were largely mixed, following an influence of volatility south of the border.

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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. One of the largest influences on its volumes on a month-over-month basis has been a decrease of volatility across its markets, in conjunction with a lighter trading schedule for the month.

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During the month of April 2017, TMX and all of its marketplaces reported an average daily volume (ADV) ‎of 576.0 million contracts, which represented a decrease of -10.0 percent month-over-month from 640.3 million back in March 2017. Furthermore, the latest figures constituted a larger decline of -14.9 percent year-over-year from 676.6 million contracts back in April 2016.

On an aggregated basis during April 2017, TMX and all of its marketplaces saw equities volumes of 10.9 billion, falling by a margin of -25.9 percent month-over-month from 14.7 billion in March 2017. Looking across a yearly timetable, the performance in overall equities volume was also entrenched in negative territory, declining -23.2 percent year-over-year from 14.2 billion in March 2016.

Across all three exchanges, the total cash value in April 2017 came in at $131.4 billion, a decline of -23.8 percent month-over-month from $172.5 billion in March 2017. The latest cash value in April 2017 across the exchanges did move higher when measured against its 2016 counterpart, ascending 4.5 percent year-over-year from $125.7 billion in April 2016.

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