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US Securities Volumes

Monthly ETP Review

October 9, 2018

• Exchange-traded-product ADV rose 5.51% m/m (+14.69% y/y), to 1.18 bn, compared with a 12.23% increase in total equity ADV.
• Average daily value traded climbed 10.06% m/m (+17.28% y/y), to $77.8 bn.
• ETPs accounted for 17.18% of equity ADV (-109 bps m/m) and 23.41% of equity ADVT (-49 bps m/m), as the VIX average daily close increased 2.90% m/m (+23.69% y/y), to 12.91.
• NYSE National (+40 bps), which was re-launched in May, reaped the highest m/m market-share gain for a second consecutive month; EDGX (-37 bps) had the biggest loss.
• Fund flows were positive for a third consecutive month, with net inflows of $34.18 bn. US equity funds outpaced all other groups once again, with net inflows of $27.6 bn. Government-fixed-income products were a distant second, with $2.4 bn. Foreign-developed-market (-$1.3 bn), commodity (-$40mn) and currency (-$23mn) funds were the only groups to experience net outflows.

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