OE-M08: Market Cleanliness (MC) Statistics
2025 values
Table: MC, ATV and PATR latest figures
| Type | 2022 | 2023 | 2024 | 2025 | Status |
|---|---|---|---|---|---|
| Market cleanliness (MC) statistics: | 25% | Data was not published as we were reviewing our methodology | 38% | 41.1% | Increased (Methodological changes mean that the statistic is not comparable to, and systematically higher than, figures published using the previous methodology.) |
| Abnormal Trading Volume Ratio (ATV) | 8% | 6% | 6% | 8.1% | Increased
|
| Potentially Anomalous Trading Ratio (PATR) | 5% | 3% | 4% | 5.5% | Increased |
Source: FCA transaction data and prices from data vendors
We updated the MC statistic methodology in November 2024. We explain the changes in Research Note: A revision of our market cleanliness statistic methodology.
The revised approach means the statistic is not comparable with earlier figures and is generally higher than those published using the previous method.
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Data table
Abnormal Trading Volume
Each year we publish an Abnormal Trading Volume (ATV) measure. This looks for unusual increases in trading volumes ahead of potentially price sensitive announcements, covering equity instruments and some equity derivatives.
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Data table
Potentially Anomalous Trading Ratio
Potentially Anomalous Trading Ratio (PATR) is part of our work to broaden the number of indicators to help assess market cleanliness.
The measure looks at potentially anomalous trading that occurs ahead of a price sensitive news announcement. By potentially anomalous trading we mean:
- the participant does not typically trade in this instrument
- the participant traded significantly more in the direction of the announcement
- the participant made a significant profit from trading positions established in the period immediately prior to the announcement
Chart
Data table