The 197 corporate stocks and four exchange-traded products listed in both Canada and the US had average daily volume across both countries of 429 million shares in
November, down 18.1% m/m. Of this total, 231mn, or 54%, traded in the US (-20.0% m/m) and 198mn, or 46%, traded in Canada (-16.1% m/m). This compares with a 55%-45% split in favor of the US in October (see chart below). Market-wide ADV, including single-listed and inter-listed names, fell by 11.6% m/m in Canada and declined by 13.3% in the US. The portion of all Canadian volume coming from inter-listed securities dropped to 28.8% from 30.4%, while the US figure fell to 3.4% from 4.0%.
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