JERSEY CITY, N.J., June 5, 2008 (PRIME NEWSWIRE) -- Direct Edge ECN announced today statistical information regarding its volume for May 2008. The company will release this information on a going forward basis.
Direct Edge reported 607 million shares handled per day in May, representing a 320% year-over-year increase. Direct Edge's handled market share in all U.S. equity securities was 8.94% for the month, with a 4.05% matched market share.
The table below shows Direct Edge's market share broken out by listing market:
Listing Market Handled Market Matched Market
Share Share
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NYSE-listed 8.77% 3.26%
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Amex/NYSE Arca-listed 6.41% 3.35%
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NASDAQ-listed 10.33% 5.81%
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The number of shares executed in Direct Edge's Enhanced Liquidity Provider (ELP) Program for May was 64.2 million (ADV).
"Our growth in volume and market share over the past year has clearly distinguished Direct Edge as one of the four major equity market centers in the United States," said William O'Brien, Chief Executive Officer of Direct Edge. "As we continue our progress, monthly release of our volume information will allow customers and other interested parties to more readily track our performance."
All volume and market share statistics reflect single-counted data across both Direct Edge trading platforms. For a detailed explanation of Direct Edge's volume and market share terminology and methodology, please see http://www.directedge.com/marketshare_terminology.aspx
About Direct Edge ECN
Direct Edge ECN offers the next generation of displayed markets. Through multiple platforms and unique order types, Direct Edge matches complementary forms of liquidity based on sensitivity to transaction cost, fill rate, fill speed, and contra-side sophistication while maintaining high execution quality and low latencies. Direct Edge is owned by a consortium that includes Knight Capital Group, Citadel Derivatives Group LLC, and The Goldman Sachs Group, Inc. Direct Edge's average daily volume in May 2008 was over 607 million shares. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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