2013: The Year in Perspective (Credit Suisse)

January 2014

KEYWORDS: hedge funds, Japan, European Union, Equity markets, Liquidity, Asia Pacific, ETF, Volatility, trading volume, High-Frequency Trading, mutual funds

Authors:

Ana Avramovic

Organizations:
  • Credit Suisse

Summary:

$Value traded increased in all three regions in 2013, especially in Japan, and on Turquoise, a European MTF. In terms of share volume, however, which is commonly referenced in the US, 2013 extended a 5-year decline. In fact, the busiest day of 2013 would have only ranked 148 on the all-time list.

 

As the bubble chart on page 2 makes strikingly obvious, where the size of the circle corresponds to each country’s daily $value traded, the US is by far the largest equities market in the world. Interestingly though, while the US accounts for over 70% of global $value traded, it’s only around 8% of share volume. The figures are almost reversed for Asia. Asia’s low average share prices and larger community of retail investors explain this curiosity.

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