- Volumes were mixed as the VIX average daily close rose 14.12% m/m (+3.91% y/y), to 14.48.
- Equity ADV declined 5.59% m/m (+7.37% y/y), to 11.21 billion.
- The top 20 most-active equities accounted for 16.96% (+437 bps m/m) of volume and 20.13% (+533 bps m/m) of value traded, with off-exchange market share of 57.36% (-49 bps m/m).
- Off-exchange market share (+134 bps m/m) reached an all-time high of 47.42%, surpassing its previous record of 47.19% set amid the meme-stock craze in January 2021.
- NYSE (-160 bps m/m) and Nasdaq (-107 bps m/m) lost the most.
- Stocks with sub-dollar share prices generated 11.22% of consolidated volume, down 293 bps m/m (-12 bps y/y).
- 39.60% (+221 bps m/m) of off-exchange volume traded at the NBBO, compared with 18.58% (+90 bps m/m) done at the midpoint.
- Block market share increased 23 bps m/m to 6.04%.
- Closing prints accounted for 7.83% of equities volume, down 450 bps m/m; 20.42% of closing volume occurred off-exchange, up 191 bps m/m.
- ETP ADV rose 41.86% m/m (+27.19% y/y), to 2.56 bn, comprising 22.84% of equity ADV (+764 bp m/m).
- Equity-options ADV climbed 3.45% m/m (+13.46% y/y) to 45.6 million contracts, surpassing the previous monthly record set in February.
- In equity options, MEMX (+107 bps m/m) and MIAX Emerald (+54 bps m/m) gained the most market share, with MEMX reaching a new all-time high of 3.58%.; MIAX Pearl (-46 bps) lost the most.
- Index-options ADV jumped 5.92% m/m (+20.57% y/y), to 4.20 million.
View the report
