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Return to Market Volume Summary
Explanation of Market Volume Methodology
BATS monitors the consolidated trade feeds (UTDF for Nasdaq-listed securities and CTS for NYSE/AMEX/Regional exchange-listed securities) and summarizes the volume per market center.
The Matched Volume rows show the volume reported as having come directly from a market center. The TRF Volume rows show volume submitted by brokers (including BATS and other ECNs) to NASD regulated Trade Reporting Facilities.
The Tape A/NYSE column shows the volume for NYSE-listed securities, the Tape B/Regional shows the volume for AMEX and Regional exchange-listed securities and the Tape C/Nasdaq column shows the volume for Nasdaq-listed securities. The Total column shows the total of the Tape A, Tape B and Tape C columns.
The left half of the display (labeled Today) shows data for the current day delayed by 20 minutes. The right half of the display shows the average value for the previous 5 trading days.
The (green) BATS row shows BATS single counted internally matched volume.
The BATS data is delayed by 20 minutes to keep it in sync with the exchange data.
BATS reports its trades to an NASD regulated TRF (or in some cases to the NSX or ISE exchange).
BATS volume will thus be counted under TRF, NSX, or ISE volume.
To avoid double counting, the volume from the BATS row is not added into the (yellow) Total Consolidated Volume row.
The volume numbers are the sum of trades reported to UTDF/CTS as handled thru the day, broken down by participant and sub participant (UTDF) / TRF (CTS) indicator.
Both feeds apply current day correction and cancel messages.
UTDF processing is handled as described in the UTDF specification file chapter 7.0.
CTS processing is handled as described in the CTS specification file appendix H with sale condition exceptions indicated by total volume description section 11.76. CTS Crossing session volume is not included.
BATS believes the data is reliable, but does not guarantee its accuracy or completeness.
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