Nasdaq Just Logged An Impressive September

Nasdaq Inc NDAQ saw improved volumes in September, benefitting from sequential increases in on both the U.S. and European exchanges.

A strong September saw Q3 volumes finish ahead of Barclays estimates for most asset classes. The increase comes ahead of a seasonally slow August.

Nasdaq saw U.S. cash equity average daily volume (ADV) in September of 7.0 million, up 14 percent month-over-month. Market share improved 80bps to 17.5 percent, resulting in a Q3 market share of 16.8 percent.

Q3 U.S. cash equity market share was ahead of estimates, while the U.S. option market share slightly missed Barclay's expectations.

Due to the mixed results, Barclays is leaving its Q3 EPS estimates unchanged at $0.91. They did, however, lower FY 2017 EPS estimates to $4.25 from $4.30. The company has a $79 price target on Nasdaq with an Overweight rating.

Nasdaq shares were down 1 percent Tuesday at $65.71.