Short Sale Volume Daily
Pursuant to a U.S. Securities and Exchange Commission request, FINRA makes short sale trade data publicly available for off-exchange (i.e., OTC) trades in exchange-listed securities reported to a FINRA Trade Reporting Facility (TRF) or the Alternative Display Facility (ADF), as well as for trades in securities traded over-the-counter and reported to FINRA’s Over the Counter Reporting Facility (ORF). FINRA makes the data available in two ways: (1) Daily Short Sale Volume; and (2) Monthly Short Sale Transaction (collectively, Short Sale Volume).
Daily Short Sale Volume provides aggregated volume by security for all short sale trades executed and reported to a TRF, the ADF, or the ORF during normal market hours for public dissemination purposes (i.e., media-reported trades). See the Daily Short Sale Volume File formatting guide.
As discussed more fully in Information Notice 5/10/19, the following key points about the Short Sale Volume may help avoid misperceptions regarding the data.
- Short Sale Volume excludes any trading activity that is not publicly disseminated. As a result, some offsetting buying activity related to reported short selling would not be reflected in the Daily Volume and may result in the appearance of a higher concentration of short sale volume to total volume.
- The Short Sale Volume is not consolidated with exchange data. To obtain a complete picture of the short sale volume to total volume for a particular exchange-listed stock, market participants must combine data from each of the TRFs and the ADF, as well as from each exchange.
- Short Sale Volume does not—and is not intended to—equate to bi-monthly reported short interest position information. The short interest data reflects aggregate short positions held by market participants at a specific moment in time on two discrete days each month, while the Daily Short Sale Volume reflects the aggregate volume of trades executed and reported as short sales on each trade date.