Market Metrics and Trends

A Look at Monthly Volatility and Equity and Options Volumes

Market Theme

• A small number of financial market exchange groups have commanded the majority of equity trading volumes.
• In recent years, however, an increase in off-exchange trading and the entry of smaller exchanges have begun to slowly siphon market share from the dominant players, though revenues continue to grow across the board.

Market Metrics

• Volatility Index (VIX): Monthly average 19.1%; +3.1 pp M/M, +2.1 pp Y/Y
• S&P 500 (Price Index): Monthly average 6,893.81; -0.5% M/M, +14.2% Y/Y
• S&P 500 Sector Total Return Performance:
  • Best = Utilities +10.3% M/M / Energy +25.2% YTD
  • Worst = Consumer Discretionary -5.4% M/M / Financials -6.1% YTD
• Equity Average Daily Volume (ADV): Monthly average 20.0 billion shares; +2.9% M/M, +28.0% Y/Y
• Options ADV: Monthly average 67.2 million contracts; +1.3% M/M, +16.8% Y/Y

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