Australian Block Market Share report – August 2026
With the expertise of our Quantitative Analytics team, we compile a monthly report on Australian block market share – to give consistent and transparent data to share key insight in the Australian market.
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The ASX200 rose 1.10% in August as volatility eased further (with the ASX 200 VIX averaging 10.7 in August, down from 11.3 in July) and that - despite earnings season. Performance was increasingly driven by domestic factors, most notably reporting season (and associated rotation) as well as a push higher in bond yields supported by a strong inflation print, as well as a tailwind from higher global bond yields, persistent geopolitical uncertainty and ongoing debate around the US rate path. Materials and Healthcare were the key contributors to index performance, offsetting weakness across Financials and Real Estate. The month was rounded out by the MSCI rebalance, which provided a significant liquidity event and an additional catalyst for portfolio repositioning.
Despite all the activity around earnings and post earnings rotation, aggregate block market metrics remained broadly in line with long-term averages:
Average daily block turnover: $704m, versus a 12-month average of $709m
Average blocks per day: 197/day, versus a 12-month average of 179 (+10.1%)
Blocks represented 6.8% of market turnover, vs the 12-month average of 7.1%
Two days of blocks greater than $1bn, aligning with peak earnings
While market share remained relatively well distributed, August saw meaningful reshuffling within the top ten brokers. Combined market share for the top ten finished at 84.2%, almost exactly in line with the 12-month average. MS took the top spot with 12.8% market share underpinned by a very strong month in Megacaps. BJ finished second, but as ever – strong in large and mid caps. JPM back inside the top five with a number of Megablocks, while GS won the most improved – moving from 10th in July to 5th in August. By count, BJ was the most active desk with 421 blocks in August while the Megacap activity saw MS finish with an average blocks size $8.28m. Agency broker block activity was a touch above average at $979m
Methodology
We have used ASIC definitions of a block (according to Tiers) instead of an arbitrary dollar value, and then cleaned the data by only incorporating blocks between 10:00 - 16:10:30. Any blocks done at PDC or open prices are also excluded. ETF trades are excluded.
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