Whether you’re actively investing in ACI Worldwide Inc. (NASDAQ: ACIW) or just keeping an eye on payment technology stocks, you’ll eventually want to know: how many shares of ACIW typically change hands in a day? In this article, I’ll walk you through the practical steps I took to dig up this information, explain what the numbers really mean, and throw in a couple of expert opinions and regulatory nuances that surprised me during my research. You’ll also get to see how different countries approach verified trading data, plus a real-life disagreement between market authorities. No jargon—just the real story, with sources you can check yourself.
When I first started tracking payment tech stocks, I kept hearing about “liquidity” and “volume”—but it wasn’t until I tried to actually trade a mid-cap company like ACIW that I realized how much the average daily trading volume (ADTV) could affect my orders. If you’ve ever tried to buy or sell a chunk of shares and seen your order only partially filled, you know what I mean.
The ADTV tells you, on average, how many shares are traded per day. It’s a good proxy for liquidity: the higher the volume, the easier (and usually cheaper) it is to get in or out without moving the price. For institutional investors, it’s a must-check metric. For retail traders, it’s one more thing to keep you from getting burned by a thinly traded stock.
Here’s how I went about it—no fancy tools, just some solid research and double-checking numbers.
I usually start with Yahoo Finance or NASDAQ.com. Both update trading volumes daily and show a 10-day or 30-day average. Here’s what I did:
“Avg Vol (3 month): 469,000”
— Yahoo Finance, accessed June 2024
To double-check, I cross-referenced with NASDAQ real-time data, which showed a very similar number. That’s important, because different platforms sometimes use different calculation windows (10-day, 30-day, 3-month).
I’ll admit, sometimes the “average volume” on Yahoo Finance is a bit higher or lower than what you see on your broker’s terminal (say, TD Ameritrade or Interactive Brokers). That’s because of slightly different calculation methods. For example, some platforms exclude holidays or only count regular trading hours.
If you need pinpoint accuracy for a big trade, download the raw daily volume data from NASDAQ Trader and average the last 30 days yourself. I’ve done this, and the differences are usually tiny, but it’s worth noting if you’re managing risk closely.
With around 469,000 shares traded daily, ACIW isn’t illiquid, but it’s nowhere near the hyper-liquid stocks like Apple or Microsoft. If you’re trading tens of thousands of shares, expect some slippage. For most retail investors, you’ll get filled easily at market price.
For context, the SEC’s Market Quality report defines highly liquid stocks as those with 1 million+ shares traded daily. ACIW sits comfortably in the middle of the pack.
A few months back, I tried to buy 5,000 shares of ACIW right at the open, thinking the pre-market moves would carry through. Big mistake. My order sat unfilled for a couple of minutes, and by the time I got filled, the price had jumped 1%. Lesson learned: even a stock with almost half a million shares in daily volume can move fast on a busy morning.
I once emailed a friend who’s an institutional trader at a New York buy-side shop. Here’s what she told me (paraphrased):
“Average daily volume is a nice starting point, but context matters. On some days, like earnings releases, ACIW volume can double. Also, check the float—if insiders own a lot, the ‘real’ tradable volume is lower than it looks.”
That’s a great reminder: always combine ADTV with other stats like float and current news.
You’d think that “average daily volume” would be a straightforward, globally consistent metric. Not so fast. Here’s a quick comparison table I put together after digging through some official documents and market operator handbooks:
| Country | Standard Name | Legal Basis | Enforcement Body | Notes |
|---|---|---|---|---|
| USA | Consolidated Tape/Reg NMS | SEC Reg NMS | SEC | Includes all on-exchange trades, excludes dark pool unless reported |
| EU | MiFID II Transaction Reporting | ESMA MiFID II | ESMA | Requires both on- and off-venue reporting; stricter on post-trade transparency |
| Japan | JPX Standard Trading Data | JPX Rules | Japan Exchange Group | Limited after-hours inclusion; strict on cross-trades |
| China | CSRC Transaction Reports | CSRC Regulations | China Securities Regulatory Commission | Separate reporting for A-shares and B-shares |
The upshot is: while U.S. and EU “average volume” stats are broadly comparable, always check the fine print if you’re looking at international exchanges. For ACIW (which trades on NASDAQ), Reg NMS applies—so the number you see is well regulated and verified.
A classic example: In 2021, the U.S. SEC and ESMA (the EU’s securities regulator) debated whether U.S.-listed ADRs trading off-exchange in Europe should count toward “official” volume. The SEC said only U.S. trades count; ESMA wanted all trades (including synthetic exposures) included. It led to months of confusion for index providers and ETF managers who needed “verified” global volumes for compliance. Eventually, most providers defaulted to the stricter standard.
For ACIW, this isn’t a huge issue since it’s mainly U.S.-listed and traded, but it’s a real headache for cross-listed companies. If you manage international portfolios, double-check the definitions—especially post-Brexit, as the UK now has its own FCA rules diverging from ESMA.
So, to answer the original question: ACI Worldwide (ACIW) typically trades an average of ~469,000 shares per day (based on 3-month data as of June 2024). That’s enough for most retail trades, but be careful if you’re moving size, especially on low-news days. Always cross-check volume stats if you’re pulling data from different countries, and remember that “verified trade” means something different depending on the jurisdiction—don’t assume one regulator’s data fits all.
If you want to dig even deeper, try downloading raw trade data from NASDAQ or use professional tools like Bloomberg Terminal (if you can get access). And don’t be afraid to ask your broker for clarification—sometimes the quirks only show up in the fine print.
Final thought: I used to ignore ADTV until a surprise fill cost me more than a few dollars. Now it’s a non-negotiable part of my pre-trade checklist. Learn from my mistakes!