How and why the volume on the American stock market is falling?
Several reasons: ZIRP causes stock market volatility to drop => this is demotivating to actively trade Pension funds under pressure due to low bond yields ETFs took a lot of liquidity into themselves - they passively took stocks and hold them, not trading Brokerage businesses mutate into Asset management. Management turnovers are small, infrequent operations, they take a management fee from the client and live quietly on this money Ordinary people are fed up with stock market scams in recent 15 years. That's dot-coms, the credit crisis. Day trading among private clients in the US has practically ceased to exist. author: Barry Ritholtz Original translation: http://smart-lab.ru/blog/190710.php#comments