- Volumes fell as the VIX average daily close dropped 25.47% m/m (-39.93% y/y), to 14.08.
- Equity ADV declined 0.74% m/m (-6.05% y/y), to 10.56 billion.
- Year-to-date equity ADV is off 8.81% from the same period last year and down 8.05% from full-year 2022.
- The top 20 most-active equities accounted for 12.09% (-30 bps m/m) of volume and 22.83% (-99 bps m/m) of value traded, with off-exchange market share of 48.30% (+137 bps m/m).
- Off-Exchange venues (+58 bps m/m) gained the most equity market share; NYSE Arca (-39 bps m/m) lost the most.
- 9.60% of consolidated volume came from stocks with share prices less than $1.00, down 53 bps m/m (+88 bps y/y).
- 41.36% (+20 bps m/m) of off-exchange volume traded at the NBBO, compared with 17.87% (+37 bps m/m) done at the midpoint.
- Block market share dropped 63 bps m/m, to 6.18%.
- Closing prints accounted for 7.99% of equities volume, up 91 bps m/m; 20.29% of closing volume occurred off-exchange, up 47 bps m/m.
- ETP ADV fell 7.98% m/m (-8.46% y/y), to 2.24 bn, comprising 21.19% of equity ADV (-167 bps m/m).
- Equity-options ADV declined 2.59% m/m (-3.53% y/y), to 39.0 million contracts.
- Year-to-date, equity options ADV is up 5.49% from the same period last year and 5.44% higher than full-year 2022.
- In equity options, NYSE Arca (+116 bps m/m), MIAX Pearl (+78 bps m/m) and Nasdaq NOM (+58 bps m/m) gained the most market share; NYSE American (-113 bps m/m) and Nasdaq PHLX (-53 bps m/m) lost the most.
- Index-options ADV fell 12.26% m/m (+21.95% y/y), to a record 4.02 million.
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