- ETP average daily volume fell 12.21% m/m (+6.85% y/y), to 2.48 bn, as the VIX average daily close increased 5.49% m/m (24.95% y/y), to 16.74.
- Average daily value traded declined 4.34% m/m (-2.67% y/y), to $160.4 bn.
- ETPs accounted for 16.07% of total equity ADV (-315 bps m/m) and 23.15% of ADVT (-176 bps m/m).
- The 20-most-active ETPs comprised 34.33% (-537 bp m/m) of total ETP volume and 9.71% (+208 bps m/m) of all equity volume.
- Nasdaq (+131 bps m/m), NYSE Arca (+111 bps m/m) and Cboe EDGX (+73 bps m/m) gained the most market share, while off-exchange venues (-391 bps m/m) lost the most.
- Net ETP flows were positive for a 13th consecutive month, at $77.72 bn. US equity ($50.97 bn) and US corporate fixed income (+$10.86 bn) funds led the way once again; Only emerging markets (-$3.82 bn) and commodities (-$1.12 bn) suffered net outflows.
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