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Another 'Ugh' Volume Day

Consolidated NYSE volume today was 3.05 billion shares — one of the lightest volume days of the year, no surprise given that Citigroup traded a measly 49 million shares on the first day of its 1-for-10 split, a roughly 85 percent drop from its recent volume of about 400 million shares.

Citi , which was once 10 percent of the entire consolidated volume of the New York Stock Exchange (think about that: one stock was 10 percent of the volume), is now an also-ran. Bank of America is now the high-volume king, trading about 108 million shares today...twice Citi.

It's just the latest in a series of dismal reports on volume. Overnight, NYSE Euronext reported that stock volume in its U.S. venues in April was down 30.8 percent from a year ago. This includes only the three markets the NYSE Euronext directly controls: the New York Stock Exchange, NYSE Amex, and NYSE Arca. Taken together, NYSE Euronext has roughly 25 percent of the volume in the stocks it lists.

But it's the same everywhere else. Nasdaq has also seen lower volumes.

Even NYSE Euronext's derivative business was off, down 18.5 percent.

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