Smaller brokerages have captured a far larger share of the recent surge in market turnover, the stock exchange says. Category C securities houses, which include all of the smallest houses and most individuals who own seats on the exchange, handled 40 per cent of last month's trade, up from 26 per cent a year ago, it said. The largest houses, or category A, saw their market share fall by half. The 14 category A houses processed only 24 per cent of trades last month, compared with 42 per cent last year. Turnover has surged this quarter on a flood of liquidity from China and from domestic investors.