• Volume and volatility fell for a second straight month. Equities ADV declined 4.61% m/m (+9.33% y/y), to 6.82bn. The VIX average daily close dropped 3.45% m/m (+20.85% y/y), to 16.21.
• Off-Exchange market share (+102 bps m/m) and block activity (see chart, page 3) continued to bounce back as volatility eased.
• The Chicago Stock Exchange doubled its September market share to reach 1.21%.
• Exchange-traded-product ADV declined 10.42% m/m (+15.99% y/y), to 1.22bn, or 17.86% of total equity volume (-116 bps m/m).
• Equity-options ADV inched down 0.27% m/m (+3.41% y/y), to 14.7mn. Index- options ADV declined 14.77% m/m (+12.50% y/y).
• EDGX options captured 15bps of market share during a limited initial-launch phase.
• YTD equity ADV is up 7.41% compared with the year-ago period; YTD equity-option ADV is off 2.98%.
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