Estimated FY 2022 Review of SIP Revenue for U.S. Securities Exchanges
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SIP revenues totaled $428 million in 2022, a decline of 3 % from 2021.
Burton-Taylor is proud to introduce the Annual Review of SIP Revenue for U.S. Securities Exchanges 2022 report analyzing the SIP revenue sharing program for U.S. equity exchanges and transaction reporting facilities (TRFs). The report analyzes yearly quote and trade revenue and messaging data for Tape A, Tape B and Tape C equity securities. The report also provides historical annual revenue and messaging totals for 2012 to 2022, as well as an analysis of each exchange holding company’s activity over the same time period.
The report analyzes revenue for the following U.S. exchange holding companies and transaction reporting facilities (TRFs):
- Nasdaq LLC: Includes revenue for the NSDQ, BX, and PSX exchanges, as well as the NASDAQ TRFs.
- CBOE Global Markets: Includes revenue for the BZX, CBSX, EDGA, BYX, and EDGX exchanges.
- NYSE: Includes revenue for the NYSE, NYSE National, ARCA, NYSE Chicago, and AMEX exchanges, as well as the NYSE TRF.
- IEX: Includes revenue since 2016 when IEX became a registered securities exchange.
- Other: LTSE, MEMX and ,MIAX.
