• ETP average daily volume jumped 29.63% m/m (+115.66% y/y), to 4.98 bn, a new record high, as the VIX average daily close climbed 46.36% m/m (98.08% y/y), to 31.97.
• Average daily value traded rose 26.87% m/m (+86.19% y/y) to $310.4 bn, also a new record high.
• ETPs accounted for 25.77% of total equity ADV (+178 bps m/m) and 35.90% of ADVT (+446 bps m/m).
• The 20-most-active ETPs comprised 40.13% (+111 bp m/m) of total ETP volume and 10.34% (+98 bps m/m) of all equity volume.
• NYSE Arca (+131 bps m/m) gained the most market share, while off-board venues (-244 bps m/m) lost the most.
• Net ETP flows were positive for a 16th consecutive month, at $20.25 bn. US equity funds ($21.08 bn) led the way, followed by government fixed-income funds (+12.15 bn); Only corporate fixed-income (-$19.44 bn) and emerging market funds (-$5.90 bn) suffered net outflows.
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