Australian Block Market Share report – February 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 -4.22% in February, reversing January’s gains with earnings inspired volatility at the micro level as well as the beta effect of the Trump Trade unwind. Volatility at the index level also increased and the ASX200 VIX (av daily value) increased to 11.4 from 10.9 in January.
A monster month of blocks by any metric:
An average of $797m/ day of blocks vs a 12 month average of $598m/day (+33.2%)
A total of $15.95B of blocks in the month – largest since Feb 2024 ($16.21B)
216 blocks/ day vs a 12mth av of 162/day (+33%)
Blocks as percentage of total notional at 8.7% vs 12mth average of 7.5%
Four days with blocks above $1B and a record day of blocks on Feb 14 of $1.596B
Diversification saw the top 10 account for 82.6% mkt share vs a 12mth av of 83.9%. UBS took top spot with a particularly strong month in large caps, BJ of note for their strength in mid caps (again), Morgans took out outperformer of the month with their SIG activity, and LN had a strong month in small caps. As did the mkt, agency venues had a huge month with $942m trading (2nd biggest in 24mths).
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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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