		Home \| Jobs \| Fast Answers \| Site Map \| Search

Litigation

Divisions

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

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.

Last modified: 1/24/2001