Australian Block Market Share report – August 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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The ASX200 returned +2.63% in August as market-wide volatility actually fell (the ASX200 VIX av daily value fell to 10.8 from 11.3 in July), masking the fact that idiosyncratic risk rose sharply over earnings season, with several large and mega caps posting outsized moves that drove meaningful rotation. Sentiment was also buoyed by a domestic rate cut and a broader dovish tilt from global central banks as data softened.
August marked a record month for block activity since report inception (June 2022):
$20.13B in blocks, +47% vs 12-month average ($13.69B) and +42% vs last August earnings season.
Daily block turnover averaged $958m, well above the 12-month average of $652m.
10 sessions exceeded $1B in blocks.
Blocks accounted for 9.8% of total turnover (+27% vs 12-month average of 7.7%).
Seven trades >$100m were executed.
Block count rose +33% vs the 12-month average.
Market share was diversified with the top 10 accounting for 84.8% vs 12mth average of 83.9%. MS finished number one – with a very strong month in large caps in particular, BJ were consistent as ever across market caps, while Argonaut were busy with resource deals which saw them finish number one in micro caps. Agency brokers shared in the elevated activity and saw the fourth best month in the last 24 months.
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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