Retail volume and options market share surge
Sep 10, 2024
Retail Volume Growth and a Surge in Non-Penny Options Market Share
Highlights & Recent Developments
- MEMX Equities retail average daily volume increased 43% month-over-month to 79 million shares in August
- Retail fill rates ranged from 92% to 95% in smaller and mid-sized orders placed near the NBBO
- MEMX Options regular electronic market share increased to 6.4%, including a surge in non-penny market share to 10.6%
- Among the most active options, MEMX had significant trading and quoting in SPY and NVDA
Equities Exchange Highlights
MEMX retail average daily volume surged 43% month-over-month to 79 million shares.
Investors benefited from high MEMX fill rates for non-marketable limit orders placed near the NBBO. For example, retail fill rates in sub-$1 stocks were 93% in odd lots and 94% in order sizes of 100 shares to 9,999 shares.
Options Exchange Highlights
MEMX Options regular electronic market share rose from 3.3% in May to 6.4% in August. Non-penny market share surged from 5.4% in July to 10.6% in August.
MEMX trading and quoting in the most active options contracts was significant. For example, in SPY on the last day of the month, MEMX options market share was 5.4% and we ranked second among 17 exchanges in quote performance. In NVDA, MEMX options market share was 6.0% and we ranked fifth among 17 exchanges in quote performance.
