Table V-7Average Effective Spreads (Stock Weighted) for Market Orders in Stocks Traded on the NYSE and the Regional Exchanges Broken Down by Order Size Table V-7: Average Effective Spreads (Stock Weighted) for Market Orders in Stocks Traded on | the NYSE and the Regional Exchanges Broken Down by Order Size | | | | | | | | | | | Cents per Share | | | | | | | | | | | | Order Size | Number | NYSE | BSE | Difference | | | | of Stocks | | CSI Stocks | | | | 100-500 | 45 | 8.7 | 11.2 | -2.4* | | | 501-1,000 | 44 | 9.4 | 11.2 | -1.8* | | | 1,001-5,000 | 43 | 11.0 | 11.4 | -0.4 | | | 5,001 or More | 4 | 11.5 | 9.7 | 1.8 | | | All Trades | 45 | 9.4 | 11.2 | -1.8* | | | | | | | | | | Order Size | Number | NYSE | BSE | Difference | | | | of Stocks | | Non-CSI Stocks | | | | 100-500 | 98 | 9.6 | 11.6 | -2.0* | | | 501-1,000 | 87 | 10.6 | 11.8 | -1.2* | | | 1,001-5,000 | 55 | 12.1 | 12.5 | -0.4 | | | 5,001 or More | 0 | -- | -- | -- | | | All Trades | 99 | 10.4 | 11.7 | -1.3* | | | | | | | | | | Order Size | Number | NYSE | CHX | Difference | | | | of Stocks | | | | | | 100-500 | 436 | 9.6 | 12.6 | -3.0* | | | 501-1,000 | 375 | 10.8 | 13.2 | -2.4* | | | 1,001-5,000 | 264 | 12.1 | 13.2 | -1.1* | | | 5,001 or More | 3 | 10.8 | 11.0 | 0.2 | | | All Trades | 436 | 10.3 | 12.8 | -2.5* | | | | | | | | | | Order Size | Number | NYSE | CSE | Difference | | | | of Stocks | | | | | | 100-500 | 188 | 9.0 | 10.8 | -1.8* | | | 501-1,000 | 178 | 9.9 | 11.6 | -1.7* | | | 1,001-5,000 | 137 | 10.9 | 12.3 | -1.3* | | | 5,001 or More | 12 | 10.8 | 10.0 | 0.8 | | | All Trades | 188 | 9.6 | 11.0 | -1.4* | | | | | | | | | | Order Size | Number | NYSE | PHLX | Difference | | | | of Stocks | | | | | | 100-500 | 198 | 9.3 | 12.9 | -3.6* | | | 501-1,000 | 174 | 10.0 | 13.1 | -3.1* | | | 1,001-5,000 | 91 | 10.9 | 13.7 | -2.9* | | | 5,001 or More | 1 | 15.2 | 13.6 | 1.6 | | | All Trades | 198 | 9.9 | 12.9 | -3.0* | | | | | | | | | | Order Size | Number | NYSE | PSE | Difference | | | | of Stocks | | | | | | 100-500 | 433 | 9.7 | 12.5 | -2.8* | | | 501-1,000 | 390 | 10.7 | 13.3 | -2.6* | | | 1,001-5,000 | 246 | 11.7 | 14.2 | -2.5* | | | 5,001 or More | 3 | 10.4 | 12.6 | -2.2 | | | All Trades | 433 | 10.4 | 12.8 | -2.4* | | | *Differences are significantly different from zero at 5% level. | | | | | |
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