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Nasdaq Claims Market-Share Gain

The Nasdaq (NDAQ - Get Report) said it continues to gain market share in trading stocks listed on the New York Stock Exchange (NYX).

The Nasdaq said Tuesday that 8.9% of trades of NYSE-listed stocks in June were executed on the Nasdaq, up from 8% in May. The report counted trades on all the Nasdaq's trading platforms, including the Nasdaq Market Center, Inet and Brut. Nasdaq's total market share, including NYSE-listed trades executed by brokers, rose to 23% from 21.9% in May.

Meanwhile the Nasdaq continues to defend its own market share. The company said its total market share of Nasdaq-listed stock trading rose to 77.9% in June from 77.2% in May.

The Nasdaq and NYSE continue to doggedly fight for each other's market share as the landscape of securities exchanges rapidly changes. New electronic trading platforms continue to pop up and, as the securities exchange choices broaden, the NYSE and Nasdaq need to find new ways to attract market share. The Nasdaq's move to chip away at the NYSE's market share, although just a small blip this month, is a closely watched figure because of the competitiveness of the industry.

While the Nasdaq steals market share, the NYSE is also losing listings to its overseas competitors. Recent statistics from research company ADVFN shows that just 99 companies were listed on the NYSE between June 2005 and May 2006, down from 135 in the prior year. As a result, the NYSE continues to hammer out plans to merge with the Euronext. The Euronext operates stock exchanges in Paris, Amsterdam, Brussels and Lisbon, and a derivatives exchange in London, and the two companies agreed to merge at the beginning of June.

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