The Nasdaq Stock Market increased its market share in New York Stock Exchange-listed securities to 10.75 percent in July, up from 8.9 percent in June, according to consolidated market performance statistics.
Total market share in NYSE-listed securities is based on total share volume of NYSE-listed securities that are executed on the Nasdaq Market Center, INET and/or Brut books, plus internalized volume as a percentage of total consolidated NYSE market volume.
Nasdaq's total market share in NYSE-listed securities in July was 25.5 percent, which includes NYSE-listed securities executed by broker-dealers and reported to Nasdaq.
In advance of Regulation NMS trading rules, which require more automated trading, Nasdaq has aggressively reduced costs, such as offering free routing to the NYSE's DOT system if the order passes through Brut's order book first. The market share gains in NYSE-listed stock also could reflect the acquisition of INET, Instinet's electronic trading arm, which Nasdaq purchased in 2005.
Nasdaq is scheduled to complete the integration of INET into a single order book combined with Brut and the Nasdaq Market Center in the third quarter.