May 17 (Bloomberg) -- Credit Suisse Group AG equities chief Timothy O’Hara said the slide in U.S. stock trading volume is over.
“Equity volumes have really ended what had been a multi-year trend of pretty steady declines,” he told CNBC in an interview today. “In the U.S., where we haven’t seen the same kind of enthusiasm around equities and equity volumes, they’re still up 10 percent to 15 percent off of the lows of last year.”
Average daily volume for U.S. equities has fallen more than 8 percent each of the past three years, according to data compiled by Bloomberg. Volume bottomed in the third quarter of last year at 5.97 billion shares a day, about half the 10.9 billion average in the first quarter of 2009.
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