Table V-10AAverage Dollar Per Trade Net Price Improvement in 1/8 Point Markets by Exchange and Order Size for Market and Marketable Limit Orders in NYSE-Listed Issues | Table V-10A: Average Dollar Per Trade Net Price Improvement in 1/8 Point Markets | | by Exchange and Order Size for Market and Marketable Limit Orders in | | NYSE-Listed Issues | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Dollars Per Trade | | | | | | | | | | | | Order Size | Order Type | | NYSE | BSE | CHX | CSE | PHLX | | | | | PSE | | | | | | | | | | | | | | | 100 Shares | Market Orders | | 1.69 | 0.75 | 0.23 | 0.79 | 0.42 | | | | | 0.47 | | Marketable Limits | | 0.85 | 0.48 | -0.03 | 0.10 | 0.24 | | | | | 0.25 | | Both | | 1.54 | 0.72 | 0.20 | 0.73 | 0.41 | | | | | 0.45 | | | | | | | | | | | | | | | 101-200 Shares | Market Orders | | 2.48 | 1.22 | 0.59 | 1.56 | 0.73 | | | | | 0.75 | | Marketable Limits | | 1.23 | 0.81 | -0.04 | 0.02 | 0.36 | | | | | 0.45 | | Both | | 2.25 | 1.17 | 0.50 | 1.42 | 0.70 | | | | | 0.72 | | | | | | | | | | | | | | | 201-300 Shares | Market Orders | | 3.50 | 1.93 | 1.08 | 2.15 | 1.03 | | | | | 0.98 | | Marketable Limits | | 1.59 | 1.32 | -0.09 | 0.47 | 0.31 | | | | | 0.55 | | Both | | 3.05 | 1.84 | 0.89 | 1.97 | 0.94 | | | | | 0.93 | | | | | | | | | | | | | | | 301-400 Shares | Market Orders | | 4.58 | 2.41 | 1.04 | 2.84 | 1.37 | | | | | 1.43 | | Marketable Limits | | 1.79 | 1.38 | -0.44 | -0.32 | 0.35 | | | | | 0.88 | | Both | | 3.79 | 2.24 | 0.79 | 2.47 | 1.24 | | | | | 1.36 | | | | | | | | | | | | | | | 401-500 Shares | Market Orders | | 4.66 | 2.34 | 1.72 | 2.84 | 1.70 | | | | | 1.39 | | Marketable Limits | | 2.23 | 1.08 | -0.25 | 2.03 | 0.90 | | | | | 0.89 | | Both | | 3.70 | 2.08 | 1.26 | 2.71 | 1.55 | | | | | 1.30 | | | | | | | | | | | | | | | 501-1,000 Shares | Market Orders | | 6.32 | 4.24 | 1.11 | 2.50 | 1.20 | | | | | 1.00 | | Marketable Limits | | 3.17 | 2.71 | -0.49 | -0.24 | 1.20 | | | | | 0.94 | | Both | | 4.90 | 3.84 | 0.69 | 1.92 | 1.20 | | | | | 0.99 | | | | | | | | | | | | | | | 1,001-5,000 Shares | Market Orders | | 8.13 | 7.84 | 9.79 | 2.01 | -4.95 | | | | | -4.46 | | Marketable Limits | | 6.04 | 4.38 | -3.02 | 2.58 | 0.60 | | | | | 1.95 | | Both | | 6.85 | 6.79 | 6.18 | 2.17 | -3.14 | | | | | -2.33 | | | | | | | | | | | | | | | 5,001 or More Shares | Market Orders | | 33.04 | 10.69 | 186.49 | -22.34 | -63.52 | | | | | -39.68 | | Marketable Limits | | 10.64 | 4.54 | -8.91 | -3.75 | -83.85 | | | | | 0.82 | | Both | | 15.25 | 8.01 | 155.96 | -13.59 | -73.79 | | | | | -16.29 | | | | | | | | | | | | | | | All Orders | Market Orders | | 4.76 | 2.34 | 1.62 | 1.65 | 0.60 | | | | | 0.46 | | Marketable Limits | | 4.40 | 2.01 | -0.52 | 0.49 | 0.28 | | | | | 0.87 | | Both | | 4.62 | 2.29 | 1.28 | 1.50 | 0.55 | | | | | 0.52 |
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