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US Securities Volumes

US Securities Volumes

April 6, 2021
  • Volumes declined broadly, as the VIX average daily close fell 5.61% m/m (-62.17% y/y), to 21.84.
  • Equity ADV dropped 12.65% m/m (-14.66% y/y) to 13.35 billion.
  • The top 20 most-active equities accounted for 12.81% (-453 bps m/m) of volume and 13.21% (+416 bps m/m) of value traded, with off-exchange market share of 48.64% (-1,003 bps).
  • NYSE (+224 bps m/m) and Nasdaq (+100 bps m/m) gained the most equity market share; Off-exchange venues (-475 bps) lost the most.
  • Block market share fell 35 bps m/m, to 6.32% of total equities volume.
  • Closing prints accounted for 6.73% of equities volume, up 263 bps m/m.
  • 22.75% of closing volume occurred off-exchange, down 144 bps m/m.
  • ETP ADV rose 24.31% m/m (-53.68% y/y), to 1.92 bn, or 14.37% of total equity ADV (+427 bps m/m).
  • Equity-options ADV declined 9.95% m/m (+38.75% y/y), to 37.3 million contracts.
  • In equity options, MIAX Pearl (+106 bps m/m) and Nasdaq NOM (+103 m/m) gained the most market share; MIAX Emerald (-93 bps) lost the most.
  • Index-options ADV fell 7.59% m/m (-44.26% y/y), to 1.81 million.

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