U.S. Equities Market Volume Summary

Notional Value Summary
Volume Summary

Matched Volume	Tape A	Tape B	Tape C	Market	Today	5 Day

NYSE (P,N,A,C,M)	1,574,078,050	722,332,751	1,295,605,824	3,592,016,625	18.06%	20.28%
NASDAQ (B,X,Q)	576,809,883	282,525,149	1,863,909,206	2,723,244,238	13.69%	15.64%
Cboe (Z,Y,K,J)	473,570,550	427,868,475	1,032,671,648	1,934,110,673	9.73%	8.64%
Investors Exchange (V)	231,010,705	91,664,901	249,647,655	572,323,261	2.88%	2.64%
Members Exchange (U)	85,005,341	88,029,342	235,890,883	408,925,566	2.06%	1.91%
MIAX Pearl (H)	38,982,508	71,978,196	120,343,769	231,304,473	1.16%	1.06%
LTSE (L)	351,280	385,225	804,921	1,541,426	0.01%	0.01%
Matched Total	2,979,808,317	1,684,784,039	4,798,873,906	9,463,466,262	47.59%	50.17%

FINRA &TRF Volume
TRFs (DQ,DN,DB)	2,977,582,965	1,950,866,610	5,494,908,392	10,423,357,967	52.41%	49.83%
NASD & TRF Total	2,977,582,965	1,950,866,610	5,494,908,392	10,423,357,967	52.41%	49.83%

Total Consolidated Volume
Total	5,957,391,282	3,635,650,649	10,293,782,298	19,886,824,229	100%	100%

Data as of 20:00 25/09/2025.
All share and notional values delayed at least 20 minutes.

If using this data in a published report, please cite Cboe Global Markets as the source.

This data display automatically refreshes every minute during trading hours.

"Notional Value", which is also referred to as "Dollar Value Traded", is calculated by multiplying the execution price of each transaction by the total number of shares executed in each transaction. This method of calculating market share, as opposed to simply using the total number of shares that traded hands, can be a better representation of the actual "size" of a market. The larger the Notional Value traded, the more risk that actually changed hands. By way of example, 100 shares of stock ABC at $362 per share is a much larger transaction than 100 shares of stock XYZ at $2.20 a share. Other assets classes, such as futures and options, and most other equity markets outside of the U.S., historically have used Notional Value as an index into how much activity takes place on those markets. Cboe is the first to offer a real-time view, market-wide, into Notional Value traded in the U.S. cash equity markets.