Nasdaq Trading Volume Surges 32.56% to $1.17 Billion Securing 143rd Market Rank Amid Regulatory Debates

On Sept. 19, 2025, , . The session saw renewed focus on exchange operations amid evolving market structure debates.

Recent regulatory scrutiny over market data fees and exchange revenue models intensified, with industry observers highlighting potential impacts on Nasdaq's . While no immediate policy changes were announced, discussions around fee transparency and competition among exchanges remain central to sector dynamics.

Market participants noted mixed sentiment around Nasdaq's role in , with some analysts emphasizing its leadership in tech IPOs while others pointed to broader challenges in maintaining pricing power amid increased competition from alternative trading platforms.

To construct an accurate back-test, several practical considerations require clarification: 1) Which exchange(s) should define the 500 highest-volume stocks? 2) Should positions be equally weighted daily or adjusted by volume/market cap? 3) Will like commissions and spreads be factored in? 4) Given current tool limitations, alternatives include using representative (e.g., RSP) or narrowing the scope to specific tickers. These parameters will directly influence the back-test's accuracy and relevance.