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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: TFF who started this subject9/12/2002 7:10:09 AM
From: supertip  Read Replies (1) of 12617
 
Instinet August equity volume, market share rise



Instinet Group Inc. said on Wednesday that its August U.S. equity share volume and market share rose compared with a year earlier.



For the first time, the electronic agency broker released its average revenue per U.S. share traded, showing how difficult it has become to make money trading stocks as competition has increased and volumes have dropped in the bear market.



In August of 1999, the firm earned on average 0.87 cent per share traded. That dropped to 0.76 cent in August 2000 and 0.71 cent per share traded in August 2001. In August 2002, it earned just 0.24 cent per share traded.



In the difficult trading environment, electronic communication networks like Instinet have slashed their prices, hoping increased volume would offset the lower revenue earned per share traded.



Instinet said its U.S. equity share volume in August was 7.49 million shares, compared with 5.04 million shares in August 2001 and 10.32 million shares in July.



Its estimated U.S. equity market share in August was 10.3 percent, up from 8.4 percent a year ago and flat with 10.3 percent in July.



The firm's estimated share of Nasdaq-listed volume in August was 19.3 percent, up from 12.9 percent a year ago and up from 18.7 percent in July. Its exchange-listed market share was 2.7 percent, down from 3 percent in August 2001 and 2.8 percent in July
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