- Volumes were mixed in October as the VIX average daily close rose 12.34% m/m (+5.68% y/y), to 19.96.
- Equity ADV slipped 1.62% m/m (+9.64% y/y), to 11.67 billion.
- Year-to-date equity ADV is up 6.57% from the same period last year, and up 5.79% vs. full-year 2023.
- The top 20 most-active equities accounted for 11.97% (-289 bps m/m) of consolidated volume and 11.77% (-835 bps m/m) of value traded, with off-exchange market share of 53.67% (+10 bps m/m).
- Off-exchange market share (+133 bps m/m) set a second consecutive record high, reaching 48.80%, while NYSE Arca (+98 bps m/m) and Cboe EDGX (+63 bps m/m) also gained significant market share; NYSE (-188 bps m/m) and Nasdaq (-134 bps m/m) lost the most ground.
- Stocks with sub-dollar share prices generated 11.88% of consolidated volume, up 241 bps m/m (+175 bps y/y).
- 38.34% (+91 bps m/m) of off-exchange volume traded at the NBBO, compared with 17.47% (-291 bps m/m) done at the midpoint.
- Block market share increased 12 bps m/m to 6.39%.
- Closing prints dropped 299 bps m/m, to 7.35% of equity volume; 22.01% of closing volume occurred off-exchange, up 305 bps m/m.
- ETP ADV fell 12.85% m/m (-7.26% y/y), to 2.29 bn, comprising 19.66% of equity ADV (-253 bp m/m).
- Equity-options ADV edged up 0.83% m/m (+10.65% y/y) to 44.3 million contracts.
- Year-to-date, equity options ADV is up 7.44% from the same period last year, and 7.49% higher than full-year 2023.
- In equity options, Nasdaq PHLX (+84 bps m/m), MIAX Emerald (+58 bps m/m) and MIAX Sapphire (+58 bps m/m) gained the most market share; NYSE Arca (-150 bps m/m) and NYSE American (-138 bps m/m) lost the most.
- Index-options ADV fell 3.57% m/m (-11.95% y/y), to 4.03 million.
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