Flow Traders 3Q 2026 Pre-Close Call
Amsterdam, the Netherlands - Flow Traders Ltd. (Euronext: FLOW) publishes the 3Q 2026 pre-close call script to be used with analysts post the market close on 24 September 2026.
Welcome to the Flow Traders 3Q 2026 pre-close call, which is being conducted post the European market close on 24 September. During this call we will highlight relevant publicly available data and industry trends in our markets and relate these data points to their impact on our business for the quarter. The silent period for the second quarter starts on 1 October and we will publish our 3Q 2026 results on 29 October at 07:30 CEST.
Market Environment
ETF volumes in the third quarter decreased across most regions quarter-on-quarter1, except for APAC. Geopolitical tensions in the Middle East and its macro-economic consequences continued, however volatility materially reduced. Average volatility, as indicated by the VIX, decreased by 13% on a quarter-to-date1 basis.
In Digital Assets, there are strong segmental differences between bitcoin and altcoin markets versus tokenized RWAs. Crypto ETF volumes continue to be under pressure while the market for tokenized RWAs maintains its strong momentum.
Diving deeper into each of our businesses and regions:
Traditional
EMEA
In EMEA the third quarter showed lower ETF volumes when compared to the second quarter of 2026. The quarter-to-date1 On and Off Exchange Value Traded in EMEA is 10% down compared to 2Q 2026.
APAC
In APAC ETF volumes paint a different picture compared to EMEA and the US. In the third quarter ETF volumes in APAC were up compared to the prior quarter. The quarter-to-date1 On and Off Exchange Value Traded in APAC is 21% up compared to 2Q 2026. The quarter-to-date1 On and Off Exchange Value Traded in China is up 22% compared to 2Q 2026. These data points reinforce the strong growth trajectory across the APAC region.
US
In the US the third quarter showed slightly lower ETF volumes when compared to the second quarter of 2026. The quarter-to-date1 On and Off Exchange Value Traded in the US is 2% down compared to 2Q 2026.
Digital assets
Since 10 October 2025, the bitcoin and altcoin market has decreased materially with the market being more or less flat when compared to 2Q 2026 while materially down when compared to 3Q 2025. The quarter-to-date1 EMEA crypto market ETF volumes are up 3% when compared to the same period in 2Q 2026 while volumes are down 62% compared to quarter-to-date 3Q 2025.
The market for tokenized RWAs showed continued strength during 3Q 2026. In 3Q 2026 the market size of this market increased to c. USD 39bn compared to c. USD 32bn in 2Q 2026, illustrating the strong continued momentum in that space2.
Impact on Flow Traders
Coming to Flow Traders’ third quarter performance, the decreased market trading volumes and lower volatility in the third quarter are expected to result in significantly lower NTI compared to the second quarter. Fixed operating expenses for the quarter are in line with the cost guidance for 2026 of €235-245 million.
Contact Details
Flow Traders Ltd.
Investors
Dick Peters
Phone: +31 20 7996799
Email: investor.relations@flowtraders.com
Media
Eliza de Waard
Phone: +31 20 7996799
Email: press@flowtraders.com
About Flow Traders
Flow Traders is a leading global ETF and digital asset liquidity provider, on a mission to become the liquidity provider of choice in a 24/7 global financial ecosystem. Founded in 2004, Flow Traders has built on its heritage in European equity ETFs to provide liquidity across more than 25,000 products in ETFs, equities, fixed income, commodities, FX and digital assets, on over 150 venues globally. With more than EUR 7 trillion in annual value traded and over 1,600 active counterparties, Flow Traders plays a central role in ensuring markets remain resilient and transparent. The Company is investing in frontier technologies to drive innovation across traditional and digital asset markets. Operating from eight offices across Europe, the Americas and Asia, Flow Traders brings together over 600 professionals representing more than 60 nationalities.
Notes
- Includes July and August
- Source - RWA.xyz
Important Legal Information
This publication is prepared by Flow Traders Ltd. and is for information purposes only. It is not a recommendation to engage in investment activities and you must not rely on the content of this document when making any investment decisions. The information in this publication does not constitute legal, tax, or investment advice and is not to be regarded as investor marketing or marketing of any security or financial instrument, or as an offer to buy or sell, or as a solicitation of any offer to buy or sell, securities or financial instruments.
The information and materials contained in this publication are provided ‘as is’ and Flow Traders Ltd. or any of its affiliates (“Flow Traders”) do not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaim liability for any errors or omissions. This publication is not intended to be, and shall not constitute in any way a binding or legal agreement, or impose any legal obligation on Flow Traders. All intellectual property rights, including trademarks, are those of their respective owners. All rights reserved. All proprietary rights and interest in or connected with this publication shall vest in Flow Traders. No part of it may be redistributed or reproduced without the prior written permission of Flow Traders.
Flow Traders expressly disclaims any obligation or undertaking to update, review or revise any statements contained in this publication to reflect any change in events, conditions or circumstances on which such statements are based. Unless the source is otherwise stated, the market, economic and industry data in this publication constitute the estimates of our management, using underlying data from independent third parties. We have obtained market data and certain industry forecasts used in this publication from internal surveys, reports and studies, where appropriate, as well as market research, publicly available information and industry publications. The third party sources we have used generally state that the information they contain has been obtained from sources believed to be reliable but that the accuracy and completeness of such information is not guaranteed and that the projections they contain are based on a number of assumptions.
By accepting this publication you agree to the terms set out above. If you do not agree with the terms set out above please notify legal.amsterdam@nl.flowtraders.com immediately and delete or destroy this publication.
Market Abuse Regulation
This press release contains information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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