• 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.