- ETP average daily volume dropped 41.06% m/m (+66.08% y/y), to 2.93 bn, as the VIX average daily close declined 36.00% m/m (+56.04% y/y), to 20.46.
- Average daily value traded fell 40.20% m/m (+47.74% y/y) to $185.6 bn.
- ETPs accounted for 16.69% of total equity ADV (-909 bps m/m) and 24.84% of ADVT (-1,107 bps m/m).
- The 20-most-active ETPs comprised 40.76% (+63 bp m/m) of total ETP volume and 6.80% (-354 bps m/m) of all equity volume.
- Off-exchange venues (+365 bps m/m), NYSE (+59 bps m/m) and Cboe EDGX (+51 bps m/m) gained the most market share, while NYSE Arca (-190 bps m/m), Nasdaq (-168 bps m/m) and Cboe BZX (-86 bps m/m) lost the most.
- Net ETP flows were positive for a 17th consecutive month, at $48.23 bn. US corporate fixed income instruments ($20.81 bn) led the way, followed by global funds (+6.69 bn); Only commodity (-$2.09 bn) and specialty funds (-$50 mn) suffered net outflows.
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