Australian Block Market Share report –January 2025
With the expertise of our Quantitative Analytics team, we compile a monthly report on Australian block market share – to give consistent and transparent data to share key insight in the Australian market.
The ASX200 returned 4.57% in January in largely a one-way grind and a reversal of December, to close at a record high with a favourable inflation print increasing the odds of a February cut and the Australian market faring relatively unscathed relative to the Deepseek inspired volatility in the US. Index volatility was up a touch with the ASX200 VIX (av daily value) up to 10.9 from 10.6 in December.
As to be expected, January was a subdued month across all block activity metrics:
Block turnover per day at $334m vs a 12mth average of $596m/day
105 blocks per day vs a 12mth average of 162/day
Blocks as a % of notional traded was 5.8% vs 12mth average of 7.5%
Evident was shuffling amongst the top ten and concentration in the top few – perhaps a case of with block liquidity being scarce, the top few block desks were relied on most heavily. Jefferies was top of the pops with a particularly strong month in large caps, Citi of note with 6.9% mkt share vs a 12mth average of 4.5% after their late transition, and Barrenjoey were as ever - strong in mid and small caps. Agency venue turnover was quiet at $400m – the lightest month since April last year.
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Methodology
We have used ASIC definitions of a block (according to Tiers) instead of an arbitrary dollar value, and then cleaned the data by only incorporating blocks between 10:00 - 16:11. Any blocks done at PDC or open prices are also excluded. ETF trades are excluded.
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