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US Securities Volumes

US Securities Volumes

June 2, 2020

• The VIX average daily close fell 25.47% m/m (+84.77% y/y), to 30.90.

• Equity ADV dropped 8.34% m/m (+60.28% y/y), to 11.32 billion

• Year-to-date equity ADV is up 55.30% from the same period last year and 61.10% over full-year 2019.

• Off-exchange market share rose 22 bps to a second consecutive monthly record of 41.86%.

• Cboe EDGX (+39 bps m/m) gained the most market share, while NYSE (-38 bps m/m) lost the most.

• Block market share fell 54 bps m/m, to 6.31% of total equities volume.

• Closing prints accounted for 6.14% of equities volume, up 39 bps m/m.

• 21.89% of closing-auction volume occurred off-exchange, down 28 bps m/m

• ETP ADV slid 33.12% m/m (+24.09% y/y), to 1.83 bn, or 19% of total equity ADV (-400 bps m/m).

• Equity-options ADV rose 4.15% m/m (+38.65% y/y), to 25.6 million.

• Year-to-date, equity-options ADV is up 45.09% over 2019-to-date and 43.79% vs. full-year 2019.

• In equity options, NYSE Arca (+371 bps m/m) and MIAX Pearl (+91 bps m/m) posted the biggest market-share gains; Nasdaq ISE (-244 bps m/m) and Cboe BZX (-155 bps) lost the most.

• Index-options ADV slipped 3.50% m/m (-32.77% y/y), to 1.50 million.

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