ITG’s US Volumes See MoM Increase for June 2018

Although month-on-month US trading volumes were up, the results were down when compared to June 2017.

Financial technology provider and broker ITG, announced its June 2018 United States (US) and international trading volume this Tuesday. US Trading volumes saw month-on-month growth, but when compared to last year’s results in June, the performance was lackluster.

However, when considering the figures for June this year, it is important to keep in mind that there were 21 trading days in June 2018 and 22 trading days in both May 2018 and June 2017.

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US Trading volumes

In June, the total US trading volume was 3.3 billion shares, which is an increase of 18 percent from May’s volume of 2.7 billion. The average daily volume (ADV) was 157 million shares. This is an increase when compared to an ADV of 124 million shares in May, but less than June’s 2017 figure of 166 million shares.

According to the statement in June this year, there was a significant increase in index rebalance trading activity. This reduced the overall average revenue per share by approximately nine percent when compared to the first quarter of 2018.

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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 50.7 million shares. This is 11.9 million or 19 percent less than June’s 2017 data.

International trading activity

For ITG’s Canadian, European and Asia Pacific business, the average daily trading commissions were down in US dollar terms by approximately four percent when compared to the first quart of this year. However, when compared to last year, the results paint a more favorable picture, as the volumes increased by 20 percent. This is despite the one less trading day in June 2018 from June last year.

In the statement, ITG reminds investors that its statistics are preliminary and may be subject to revision.

ITG is an international financial technology 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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