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Nasdaq (NDAQ) Reports Mixed February Volumes, Shares Gain

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Zacks Equity Research
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Nasdaq NDAQ reported mixed volumes for February 2021. While U.S. equity options volume increased 53.5% year over year to 284 million contracts, European options and futures volume dropped 24.9% year over year to 6.9 million contracts. Shares gained 0.5% in the last trading session.

Under its cash equities, Nasdaq’s U.S. matched equity volume in February grossed about 49 billion shares, up 50.3% from the prior-year quarter. European equity volume increased 19% year over $105.1 billion.

Under fixed income commodities, U.S. Fixed income volumes traded were $1.1 trillion, down 47.2%. European fixed income volume increased 28.6% to 2.7 million contracts.

Nasdaq aims for long-term growth by banking on organic means. The company is ramping up its non-transaction revenue base, which includes market technology, listing and information revenues. It is also expanding its technology and analytics offerings.

Its 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 11% in 2020, primarily attributable to its Index and Investment Data & Analytics businesses. Nasdaq estimates 5%-8% revenue organic growth at Investment Intelligence, 8%-11% at Market Technology and 3%-5% at Corporate Platforms over medium term.

Shares of this Zacks Rank #3 (Hold) provider of trading, clearing, marketplace technology, regulatory, securities listing, information and public and private company services gained 3% year compared with the industry's growth of 2.8%.

Recently, CME Group CME reported average daily volume of 24.6 million contracts per day in February, down 18% year over year, due to lower volumes in its six product lines. MarketAxess Holdings MKTX reported February volumes of $610.4 billion, comprising $225.3 billion in credit volume and $385.1 billion in rates volume. Intercontinental Exchange’s ICE average daily volume in February decreased 1.2% to 7.5 million, primarily due to lower Agriculture and Metals ADV, Energy volume, Commodities ADV and Equity Index volume.

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

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