This metric represents the
proportion of trade volume attributed to shares outside the leading ten most actively traded companies, relative to the overall trading activity within a stock exchange. By focusing on these smaller players, it offers insights into market diversification and the potential influence of less prominent stocks on overall market dynamics. The World Federation of Exchanges (WFE) compiles this data at the exchange level, and it is subsequently aggregated into a national average, providing a clearer picture of how much capital is circulating beyond the dominance of major companies. A higher percentage could indicate a more balanced and resilient market, suggesting that investors are willing to engage with a broader array of assets, potentially enhancing investment opportunities and market liquidity.
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