âWe have seen a steady and consistent rise in Millennium volumes over the past several months,â said Brian R. Carr, Chief Executive Officer of NYFIX Millennium LLC. âAs the interest in dark pools and non-displayed liquidity continues to grow, we have seen more customers trading more symbols in larger size than ever before.â More than 468 million shares representing over 5,500 symbols passed through Millennium yesterday.
For 2007 year to date, the average daily matched volume in NYFIX Millennium was 37.5 million shares. This represents a 94% increase over the daily average of 19.2 million shares matched during the same period in 2006. The average number of symbols executed daily was 1,532 compared to 670 during the same period in 2006.
Included in the Millennium volume figures are conditional orders that are executed against pass-through orders and other conditional orders, and third market trades crossed by clients and reported by NYFIX Millennium to Nasdaq.
NYFIX Millennium is an automated execution venue designed to maximize execution quality and reduce overall transaction costs. Millennium offers users the opportunity to achieve price or liquidity improvements while mitigating negative impact for institutional-size trades. Linked to the primary markets and exchanges, Millennium leverages the power of the NYFIX Network while its real-time matching algorithm routinely executes trades at or better than the National Best Bid or Offer (NBBO).