Market Data
Table of Contents
OTC Equities Market Statistics, 2014—20181
| Year | Average Daily OTC Equities Share Volume | Average Daily OTC Equities Dollar Volume ($) | Average Daily OTC Equities Transactions |
| 2014 | 6,406,587,557 | $946,632,049 | 114,573 |
| 2015 | 5,683,043,047 | $959,847,789 | 108,523 |
| 2016 | 4,982,665,577 | $939,131,724 | 122,877 |
| 2017 | 11,061,423,136 | $1,136,567,231 | 161,995 |
| 2018 | 8,588,230,459 | $1,511,608,770 | 209,102 |
Source: FINRA OTCE Market Statistics. Data as of August 9, 2019.
1Differences in historical series reflect changes in data sources and method of calculation.
FINRA-Member Firm's Order Audit Trail System (OATS) Activity – Total OATS Events, 2014—20181
| Year | OATS Messages1 | Trade Executions | Number of Shares | Value of Executions ($) |
| 2014 | 632,072,047,792 | 3,875,296,930 | 6,171,943,611,831 | $41,041,003,543,865 |
| 2015 | 753,589,404,714 | 3,083,950,634 | 3,066,698,357,202 | $36,471,141,990,007 |
| 2016 | 727,812,241,098 | 3,961,320,427 | 3,656,985,412,829 | $42,781,770,202,084 |
| 2017 | 531,866,067,552 | 3,527,221,666 | 6,525,698,297,889 | $42,078,647,880,622 |
| 2018 | 729,720,486,018 | 3,973,693,014 | 5,725,806,866,105 | $52,733,733,403,793 |
Source: Financial Industry Regulatory Authority
1OATS messages include orders, order cancellations, order modifications, new order routes and trade executions.
FINRA-Member Firm's Order Audit Trail System (OATS) Activity – Daily Average OATS Events, 2014—20181
| Year | Number of Business Days | OATS Messages1 | Trade Executions | Number of Shares | Value of Executions ($) |
| 2014 | 252 | 2,508,222,412 | 15,378,162 | 24,491,839,729 | $162,861,125,174 |
| 2015 | 252 | 2,990,434,146 | 12,237,899 | 12,169,437,925 | $144,726,753,929 |
| 2016 | 252 | 2,888,143,814 | 15,719,526 | 14,511,846,876 | $169,768,929,373 |
| 2017 | 251 | 2,118,988,317 | 14,052,676 | 25,998,798,000 | $167,644,015,461 |
| 2018 | 252 | 2,895,716,214 | 15,768,623 | 22,721,455,818 | $209,260,846,840 |
Source: Financial Industry Regulatory Authority. Data as of May 1, 2019.
1OATS messages include orders, order cancellations, order modifications, new order routes and trade executions.
National Market Systems (NMS) Stocks Trading Summary, 2014—20181
| Year | Total Consolidated Volume | Total OTC | Percent OTC |
| 2014 | 1,623,386,544,215 | 587,338,028,782 | 36.2 |
| 2015 | 1,741,532,712,604 | 615,827,618,345 | 35.4 |
| 2016 | 1,848,780,101,176 | 678,857,487,044 | 36.7 |
| 2017 | 1,642,696,484,455 | 616,183,840,401 | 37.5 |
| 2018 | 1,841,855,556,392 | 668,455,710,212 | 36.3 |
Source: UTP Trade Data Feed and Consolidated Tape System. Data as of June 7, 2019.
1OTC includes all FINRA facilities (the FINRA/Nasdaq TRF, the FINRA/NYSE TRF and the FINRA Alternative Display Facility).
Trade Reporting and Compliance Engine (TRACE) Activity Summary, 2014—20181
| 2014 | 2015 | 2016 | 2017 | 2018 | ||
| Corporate & Agencies | Avg. Daily Transactions | 45,522 | 47,251 | 55,451 | 59,147 | 70,780 |
| Corporate & Agencies | Avg. Daily Volume (in $ billions) | 34.2 | 34.5 | 36.6 | 36.4 | 43.6 |
| Securitized Products | Avg. Daily Transactions | 13,387 | 13,254 | 12,976 | 13,029 | 12,992 |
| Securitized Products | Avg. Daily Volume (in $ billions) | 199.8 | 212.1 | 230.8 | 229.5 | 240.5 |
Source: Financial Industry Regulatory Authority. Data as of June 7, 2019.
1The Trade Reporting and Compliance Engine (TRACE) facilitates the mandatory reporting of over-the-counter secondary market transactions in eligible fixed income securities.