Here’s an excerpt from Bloomberg’s look into the history of two of the major exchanges in the world:
Two-hundred seventeen years after the New York Stock Exchange was founded under a Wall Street buttonwood tree, its modern-day parent executed a record low 30.2 percent of May’s trades, data compiled by Bloomberg show. That’s down 2.8 points from February for the worst three months since June 2008. The beneficiary wasn’t Nasdaq OMX Group Inc., the Big Board’s main rival for 38 years. It was Direct Edge Holdings LLC and Bats Exchange Inc., which more than doubled their combined share since August to 22.8 percent.
Here’s an interesting bit from the same article:
Nasdaq, founded in 1971, lost ground against new electronic markets during the first half of this decade. The share of trading of its listed stocks fell to 51.3 percent in 2004 from 61.6 percent in 2000, when the exchange became a for-profit company, according to regulatory filings.
As the leading exchange for tech stocks, I found it quite ironic to be lagging behind other smaller firms, losing market share along the way.
It’s quite a good read. See it in its entirety HERE.