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US Securities Volumes

Monthly ETP Review

December 9, 2020

• Average daily volume inched up 0.56% m/m (+30.98% y/y), to 1.60 bn, compared with a 24.06% m/m jump in total equity volume, as the VIX average daily close fell 15.09% m/m (+99.59% y/y), to 25.00.

• Average daily value traded slid 0.29% m/m (+54.03% y/y), to $113.10 bn.

• ETPs accounted for 14.11% of equity ADV (-330 bps m/m) and 22.04% of ADVT (-417 bps m/m).

• The 20-most-active ETPs accounted for 42.80% of total ETP volume and 6.04% of all equity volume.

• NYSE Arca (+71 bps m/m) gained the most market share, while Nasdaq (-97 bps m/m) lost the most.

• ETP fund flows reached an all-time monthly high of $88.27 bn. US equity funds ($60.75 bn) led the way, followed by corporate fixed income funds ($16.77 bn). US government fixed income funds (-$4.96 bn) suffered the greatest net outflows.

• Cboe BZX’s number of listed ETPs (414) overtook NASDAQ (411) for the first time.

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