• ETP average daily volume rose 5.40% m/m (+15.95% y/y), to 2.62 bn, as the VIX average daily close increased 1.88% m/m (22.29% y/y), to 17.05.
• Average daily value traded ticked up 2.52% m/m (+3.64% y/y), to $164.4 bn.
• ETPs accounted for 16.75% of total equity ADV (+67 bps m/m) and 22.59% of ADVT (-56 bps m/m).
• The 20-most-active ETPs comprised 35.38% (+105 bp m/m) of total ETP volume and 5.92% (+40 bps m/m) of all equity volume.
• IEX (+43 bps m/m) gained the most market share, while off-board venues (-60 bps m/m) lost the most.
• Net ETP flows were positive for a 14th consecutive month, at $76.02 bn. US equity ($33.83 bn) and US corporate fixed income (+$15.77 bn) funds led the way once again; Only currency funds (-$2.28 bn) suffered net outflows.
