A new report from FINRA provides a snapshot of the security industry with data about firms, their representatives and the previous year’s market activity.
The 2026 Industry Snapshot is a comprehensive report that provides insight into the FINRA membership, including the number of member firms, their revenues and their trading activity. Based on data the association collects and maintains through its regulatory oversight, the report is an in-depth look at the industry’s growth.
“The FINRA Industry Snapshot underscores our commitment to transparency and public awareness about the firms and professionals we regulate,” Jonathan Sokobin, Executive Vice President, Chief Economist and Head of Regulatory Economics and Market Analysis at FINRA, said. “This year’s report reflects a securities industry in transition—growing in professionals, a concentration in firms, and evolving in how and when investors trade. These developments, as the industry continues to post strong results, present both opportunities and challenges that merit dialogue among investors, member firms, and market participants.”
According to the report, the profession continues to grow with registered representatives reaching nearly 640,000 in 2025, a 5 percent increase over 2021. The report said the industry has seen four consecutive years of growth, with an estimated 40,000 to 45,000 entering the profession each year. The profession is also seeing more dual registration with more than half of FINRA-registered representatives maintaining both broker-dealer and investment adviser registration.
The report also said U.S. stock trading continues to climb and has hit record levels with average daily dollar volume of exchange-listed stocks of $828 billion in 2025, up more than a third from 2022. Extended-hours trading also continues to grow, and now represents about a fifth of total trading activity.
Lastly, the report said listed options trading has surged in 2025, with average daily transactions reaching 8.4 million, up 50 percent from 5. 6 million in 2023. Zero days to expiration options (contracts that expire on the same day) accounted for about a third (30 percent) of all options transactions in 2025.