Australian Block Market Share report – December 2025
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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ASX200 return in December of 1.16% on a marked fall in volatility as the ASX200 VIX av daily value fell to 10.1 from 12.4 in November, on a mid month push higher into and over rebal. On the macro front, global monetary policy was characterised by an easing bias while domestically we saw a hawkish hold from the RBA and further cuts largely priced out. So the strength was indiscriminate with clear leadership from commodity/resource stocks.
After an incredibly active year in terms of blocks, we saw a subdued finish - across all metrics:
Daily block turnover averaged $493m, vs the 12 month average of $713m
Daily block count just 133 (lowest since January, 12month average of 179)
Not one day of blocks exceeding $1B in turnover vs 9 in Nov
By count, Blocks ($10-20m) off 26.7%, Superblocks ($20-$50m) off 34% and Megablocks (>$50m) off 53.1% vs 12mth averages
The top ten accounted for 82.6% market share vs a 12-month average of 84.1% while the top 5 were inline with average at 56.5% —so a slightly fatter tail. The top 10 were remarkedly uniform with their annual ranking although MS of note for muscling in on the top 5 and E&P into the top 10.
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 - 16:11. Any blocks done at PDC or open prices are also excluded. ETF trades are excluded.
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