Program trading volume slid on the New York Stock Exchange last week, as overall activity also declined, according to the subsidiary of NYSE Euronext NYX +1.00% .
Daily program trading volume in the week ended May 13 totaled 509.2 million shares, or 28.2% of the daily average total of 1.81 billion. A week earlier, program trading volume was 603.6 million shares, or 28.7% of the average of 2.1 billion.
The most active NYSE member firm for program trading last week was Morgan StanleyMS -0.43% , followed by Goldman Sachs Group Inc. GS -1.08% and Barclays PLC (BCS, BARC.LN) -- all three frequently at the top of the list.
Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks.
Daily program trading volume in the week ended May 13 totaled 509.2 million shares, or 28.2% of the daily average total of 1.81 billion. A week earlier, program trading volume was 603.6 million shares, or 28.7% of the average of 2.1 billion.
Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks.
