How Do Market Makers Make Money? The Spread
US stock venues: public exchanges vs off-exchange reporting facilitiesranking ·
2026-08-22 · 2×3
AAPL trades by venue, latest session: off-exchange firstranking ·
2026-08-22 · 19×4
Average quoted spread: liquid mega-caps vs a thin small-cap (past week)ranking ·
2026-08-22 · 3×4
AAPL average quoted spread by half-hour (ET), one extended sessionseries ·
2026-08-22 · 32×2
AAPL: NBBO quote updates on the latest sessionscalar ·
2026-08-22 · 1×41.2
How Delta Hedging Actually Works
Total daily movement versus net movement, June 2026ranking ·
2026-08-16 · 4×4
SPY at-the-money implied volatility against realized volatility, by monthseries ·
2026-08-16 · 12×3
Shares a 1% move forces per 100 at-the-money SPY contracts, by time left (June 2026)ranking ·
2026-08-16 · 5×2
Average call and put delta by strike distance from spot (SPY, 25 to 35 days to expiry, June 2026)ranking ·
2026-08-16 · 11×3
How to Become a Registered Market Maker
Average quoted spread across six household names, midday July 16 2026ranking ·
2026-08-15 · 6×3
Quoted spread through one session, AAPL and KO, July 16 2026series ·
2026-08-15 · 26×3
Venues publishing a bid in AAPL over one half hour, July 16 2026ranking ·
2026-08-15 · 16×4
Listed AAPL option contracts by expiration, July 16 2026series ·
2026-08-15 · 24×4
Why Market Makers Lose Money: Adverse Selection
AAPL prints by distance from the midpoint: share of volume and 60 second markoutranking ·
2026-08-13 · 4×3
How much of the spread survives: AAPL markout curve, 1 second to 5 minutesranking ·
2026-08-13 · 6×3
AAPL fills by print size: credit at the fill and value 60 seconds laterranking ·
2026-08-13 · 4×4
How far the price travels while a position waits: SPY and NVDA, May 2026ranking ·
2026-08-13 · 6×3
Who Are the Biggest Market Makers?
Where Apple trades printed on June 10, 2026, by venueranking ·
2026-08-11 · 15×3
Quoted spread and quote traffic over fifteen minutes, June 10, 2026table ·
2026-08-11 · 5×5
Listed option series carrying data on one date, by underlyingranking ·
2026-08-11 · 5×4
Share of Apple volume printed off exchange, by monthseries ·
2026-08-11 · 12×2
Why Your Options Order Isn't Getting Filled
Apple option trades on June 17 2026: share of prints vs share of contracts, by trade sizeranking ·
2026-08-07 · 5×3
Apple option activity by strike distance, 20 to 45 days to expiry, May and June 2026ranking ·
2026-08-07 · 5×3
Median quoted spread on Apple options by contract price, 30 second window on June 17 2026ranking ·
2026-08-07 · 5×3
Apple options quote updates, second by second, 2:00 p.m. ET on June 17 2026series ·
2026-08-07 · 30×3
US stock venues: public exchanges vs off-exchange reporting facilities
US stock venues: public exchanges vs off-exchange reporting facilities
| venue_type | venues | venue_names |
|---|---|---|
| public exchange | 18 | 24X National Exchange LLC | Cboe BYX | Cboe BZX | Cboe EDGA | Cboe EDGX | Investors Exchange | Long-Term Stock Exchange | MIAX Pearl | Members Exchange | NYSE American, LLC | NYSE Arca, Inc. | NYSE National, Inc. | NYSE Texas, Inc. | Nasdaq | Nasdaq Philadelphia Exchange LLC | Nasdaq Texas, Inc. | New York Stock Exchange | Texas Stock Exchange LLC |
| off-exchange reporting facility (TRF) | 6 | Cboe Stock Exchange | FINRA Alternative Display Facility | FINRA NYSE TRF | FINRA Nasdaq TRF Carteret | FINRA Nasdaq TRF Chicago | International Securities Exchange, LLC - Stocks |
the exact SQL behind every number
SELECT
if(type = 'TRF', 'off-exchange reporting facility (TRF)', 'public exchange') AS venue_type,
count() AS venues,
arrayStringConcat(arraySort(groupArray(name)), ' | ') AS venue_names
FROM global_markets.stocks_exchanges
WHERE asset_class = 'stocks' AND locale = 'us' AND type IN ('exchange', 'TRF')
GROUP BY venue_type
ORDER BY venues DESC
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