- Volumes declined in October as the VIX average daily close dropped 9.85% m/m (-39.29% y/y), to 17.87.
- Equity ADV slid 1.77% m/m (+14.00% y/y), to 10.40 billion.
- Year-to-date equity ADV is up 4.80% from the same period last year and 6.33% vs. full-year 2020.
- The top 20 most-active equities accounted for 15.11% (-9 bps m/m) of volume and 13.05% (+98 bps m/m) of value traded, with off-exchange market share of 57.16% (+186 bps m/m).
- Off-exchange venues (+230 bps m/m) gained the most equity market share; NYSE (-135 bps m/m) and Nasdaq (-86 bps m/m) lost the most.
- 43.18% (-9 bps m/m) of off-exchange volume traded at the NBBO, compared with 15.64% (+53 bps m/m) done at the midpoint.
- Block market share ticked up 22 bps m/m, to 5.87% of total equities volume.
- Closing prints accounted for 4.39% of equities volume, down 200 bps m/m; 22.00% of closing volume occurred off-exchange, up 286 bps m/m.
- ETP ADV fell 6.23% m/m (-2.65% y/y), to 1.55 bn, or 14.86% of total equity ADV (-71 bps m/m).
- Equity-options ADV increased 1.76% m/m (+36.20% y/y), to 37.0 million contracts.
- Year-to-date, equity options ADV is up 38.93% from the same period last year and 33.93% higher than full-year 2020.
- In equity options, Cboe EDGX (+47 bps m/m) gained the most market share, while Cboe BZX (-36 bps m/m) lost the most.
- Index-options ADV dropped 7.98% m/m (+29.25% y/y), to 2.08 million