Equity capital formation was $41.7B, -26.7% Q/Q and +2.2% Y/Y. Total IPOs were $9.6B, +26.7% Q/Q and +39.0% Y/Y. While this was the highest quarterly issuance since 4Q21, it is still -16.8% to the three-year pre COVID average ($11.5B). In the private markets, private equity deal value was $157.5B for the quarter, -6.0% for both Q/Q and Y/Y.

Markets continue to climb. The S&P 500 index averaged 5,246.63, +5.1% Q/Q and +24.7% Y/Y. All four indexes were up for the quarter – albeit only slightly for the DJIA – and Y/Y, with Y/Y increases ranging from +13.4% (Russell 2000) to +31.1% (Nasdaq). YTD, equity market cap stood at $53.6T (+9.5% to where it finished last year) and the number of listed companies was 5,598 (-1.9% to last year’s end).

The VIX averaged 13.98 in the quarter, +2.0% Q/Q and -15.0% Y/Y. ADVs were down Q/Q for equity (albeit only slightly), ETFs, and options. Equity ADV was 11.8B shares, -0.1% Q/Q but +9.3% Y/Y. ETF ADV was 2.1B shares, -13.9% Q/Q and -0.8% Y/Y. Options ADV was 46.1M contracts, -2.8% Q/Q but +7.4% Y/Y.

 

 

 

Download the full report for data, tables and the chartbook.

About the Report

The SIFMA Research Quarterlies contain data and statistics on U.S. markets. The equity and related report – cash equites, ETFs, options and capital formation – includes information on: volumes, volatility, total equity issuance, IPOs, market shares, exchange landscapes, etc.

All reports and corresponding databases can be found at www.sifma.org/research.

Authors

SIFMA Research

• Katie Kolchin, CFA, Managing Director, Head of Research
• Justyna Romulus, Vice President, Senior Research Associate
• Matt Paluzzi, Research Associate

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