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Nasdaq's (NDAQ) March Volumes Increase Year Over Year

Zacks Equity Research

Nasdaq, Inc. NDAQ reported impressive volumes for the month of March. While U.S. equity options volume increased 45.4% year over year to 205 million contracts, European options and futures volume rose 48.8% year over year to 12.2 million contracts.

Under its Cash Equities, Nasdaq’s U.S. matched equity volume in the month grossed 65.6 billion shares, up 107.2% year over year. European equity volume improved nearly 81.7% year over year to $132.3 billion.

Under its Fixed Income and Commodities, U.S. Fixed income volume in March declined 19.6% to $797 billion. European fixed income volume increased 15.6% to 3.7 million contracts.

Notably, there were 4,185 listed companies on Nasdaq in the first quarter of 2020 compared with 4,077 in the year-ago period. Total listings grew 2.6% year over year to 4,180.

Nasdaq aims for long-term growth by banking on organic means. The company is also in a bid to ramp up growth by reviewing operations. Its increased focus on Market Technology and Information Services businesses bodes well, as these offer great growth opportunities.

Its organic growth has also been boosted by the strategy of accelerating its non-trading revenue base, which includes market technology, listing and information revenues. The company’s organic growth in non-trading segments was 8% in 2019, primarily attributable to its Market Technology, Index, and Investment Data & Analytics businesses. Thus, Nasdaq expects growth from its index and analytics businesses, followed by a moderate rise in its exchange data products across the U.S. and Nordic equities, options and fixed income businesses.

Shares of the Zacks Rank #2 (Buy) company have gained 19% in the past year, outperforming the industry’s increase of 13.6%. The Zacks Consensus Estimate for first-quarter 2020 earnings per share is pegged at $1.35, suggesting an improvement of 10.6% from the year-ago reported figure.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recently, securities exchanges, namely Intercontinental Exchange Incorporation ICE, CME Group Inc. CME and MarketAxess Holdings Ltd. MKTX reported their volumes.

Intercontinental Exchange’s ADV for March increased 56% to 9.4 million, largely backed by improved Financial ADV, Commodities ADV and Energy ADV.

CME Group reported ADV for March 2020. The month recorded ADV of 32.1 million contracts per day, up 68% year over year on increased contribution across all six product lines.

MarketAxess Holdings’ ADV of $269.5 billion for March 2020 was up 50.8% year over year.

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