<p><strong>Trading – Cash Markets (including equities, interest rate and warrant trades)</strong></p>
<ul>
<li><span>In February 2021, the average daily number of trades was 13% lower than the pcp. The average daily value traded on-market of $6.3 billion was flat on the pcp. </span></li>
<li><span>Volatility (as measured by the average daily movement in the All Ordinaries Index) was 0.8% in February (compared to 0.8% in the pcp). </span></li>
<li><span>Expected future volatility (as measured by the S&P/ASX 200 VIX) in February was an average of 15.1 (compared to 14.9 in the pcp).</span></li>
<li></li>
</ul>