JERSEY CITY, N.J., March 12, 2009 (GLOBE NEWSWIRE) -- Direct Edge achieved matched market share of 10.10% yesterday, surpassing the 10% threshold for the first time. Direct Edge also set a new all-time single-day record for handled market share, with 17.23% of all U.S. equity trading volume. Direct Edge handled 2.117 billion shares and matched 1.241 billion shares on its trading platforms yesterday.
"In July of 2007 our matched market share was less than 1.5%, and in October of 2008 it stood at 4.95%, so the pace of our growth is a testament to the power of our innovation, the passion of our people, and the support of our customers," said William O'Brien, Chief Executive Officer of Direct Edge. "By any metric, we are the fastest growing market center for U.S. cash equities, a distinction we attribute to our continued focus on leadership in both price and innovation. We are incredibly grateful to our customers and look forward to sharing many more milestones with them in the future."
Direct Edge's matched market share in certain highly traded stocks was even higher than the 10% of the overall market. For example, Direct Edge's matched market share in Bank of America for the day was 12.18%; in Citigroup -- 14.21%, in Ford -- 16.31%; and in General Electric -- 10.70%.
About Direct Edge
Direct Edge offers the next generation of displayed markets. With U.S. cash equities volume routinely exceeding 1.5 billion shares per day, Direct Edge uses multiple ECN and exchange platforms and unique order types to match 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. Headquartered in Jersey City, N.J., Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan. More information about Direct Edge is available at http://www.directedge.com. Everybody Needs Some Edge.
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