• ETP average daily volume rose 9.51% m/m (+6.01% y/y), to 1.69 bn, as the VIX average daily close increased 3.52% m/m (-25.98% y/y), to 18.50.
• Average daily value traded climbed 12.39% m/m (+30.15% y/y), to $147.2 bn.
• ETPs accounted for 15.24% of total equity ADV (+38 bps m/m) and 23.62% of ADVT (-133 bps m/m).
• The 20-most-active ETPs comprised 41.88% (+85 bps m/m) of total ETP volume and 6.38% (+28 bps m/m) of all equity volume.
• NYSE (+64 bps m/m) and Nasdaq (+50 bps m/m) gained the most market share; Off-Exchange venues (-124 bps m/m) lost the most.
• Net ETP fund flows were positive (+$72.83 bn) for a 27th consecutive month. US equity funds ($+52.49 bn) led the way once again, followed by US government fixed-income (+$8.57 bn). Only emerging market (-$3.64) and currency funds (-$90 mn) products.