{"url":"https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/","section":"trading","title":"Merrill Lynch Professional Clearing: ETF AP | ETFIQ","description":"Merrill Lynch Professional Clearing Corp. was an authorized participant (AP) for 1,421 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026.","as_of":"Sep 23, 2026","structured_data":[{"@type":"Corporation","name":"Merrill Lynch Professional Clearing Corp.","url":"https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/","sameAs":["https://business.bofa.com/"],"leiCode":"549300PMHS66E71I2D34","identifier":[{"@type":"PropertyValue","propertyID":"FINRA CRD","value":"16139"},{"@type":"PropertyValue","propertyID":"SEC file number","value":"8-33359"}],"description":"A BofA Securities subsidiary that cleared options and equities trades for market makers and professional traders."},{"@type":"ItemList","name":"ETFs Merrill Lynch Professional Clearing Corp. 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Merrill Lynch Professional Clearing Corp. is listed as an AP for 1,421 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026, and created or redeemed shares in 1,104 of them."}},{"@type":"Question","name":"Which ETFs does Merrill Lynch Professional Clearing create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: SPY, $808.2bn; VOO, $133.2bn; SPYM, $31.2bn; SMH, $22.4bn; DIA, $21.7bn."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does Merrill Lynch Professional Clearing handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 1,104 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.2% to 100.0%. It was the only active AP in 15 ETFs."}},{"@type":"Question","name":"Where do these figures come from?","acceptedAnswer":{"@type":"Answer","text":"From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Merrill Lynch Professional Clearing\u2019s CRD, SEC file number and LEI, never by the name as typed."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Authorized participants","item":"https://etfiq.com/trading/authorized-participants/"},{"@type":"ListItem","position":3,"name":"Merrill Lynch Professional Clearing","item":"https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/"}]},{"@type":"WebPage","name":"Merrill Lynch Professional Clearing: ETF AP","description":"Merrill Lynch Professional Clearing Corp. was an authorized participant (AP) for 1,421 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026.","url":"https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/","dateModified":"2026-09-23","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":17039,"truncated":false,"content":"ETFIQ / Authorized participants / Merrill Lynch Professional Clearing \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n Merrill Lynch Professional Clearing Corp.\n Merrill Lynch Professional Clearing Corp. was an authorized participant (AP) for 1,421 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026. It created $818.8bn and redeemed $720.0bn of their shares. It was active in 1,104 of them.\n business.bofa.com \n Merrill Lynch Professional Clearing Corp. as an ETF authorized participant: the 100 funds it created and redeemed most in, of 1,104, ranked by what it created and redeemed, in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026. Source: ETFIQ from Form N-CEN. # Ticker Fund Category Created Redeemed Created and redeemed Share of the fund\u2019s AP dollars Active APs in the fund Period ending \n 1 SPY SPDR S&P 500 ETF Trust U.S. stocks $348.0bn $460.2bn $808.2bn 38.5% 26 Dec 31, 2025 \n 2 VOO Vanguard S&P 500 ETF U.S. stocks $99.0bn $34.3bn $133.2bn 21.9% 21 Dec 31, 2025 \n 3 SPYM State Street SPDR Portfolio S&P 500 ETF U.S. stocks $26.1bn $5.1bn $31.2bn 24.8% 18 Jun 30, 2026 \n 4 SMH VanEck Semiconductor ETF Themes $11.4bn $11.0bn $22.4bn 32.0% 17 Sep 30, 2025 \n 5 DIA SPDR Dow Jones Industrial Average ETF Trust U.S. stocks $10.0bn $11.7bn $21.7bn 15.9% 15 Dec 31, 2025 \n 6 VTI Vanguard Morningstar Total Stock Market ETF U.S. stocks $14.6bn $6.2bn $20.9bn 26.7% 15 Dec 31, 2025 \n 7 VTV Vanguard Morningstar Value ETF U.S. stocks $13.4bn $6.6bn $20.0bn 39.9% 13 Dec 31, 2025 \n 8 XLF State Street Financial Select Sector SPDR ETF Sector stocks $10.2bn $8.4bn $18.7bn 14.1% 21 Sep 30, 2025 \n 9 BIL SPDR Bloomberg 1-3 Month T-Bill ETF Bonds $9.4bn $6.5bn $15.9bn 34.8% 7 Jun 30, 2026 \n 10 XLV State Street Health Care Select Sector SPDR ETF Sector stocks $6.2bn $8.2bn $14.4bn 24.5% 23 Sep 30, 2025 \n 11 VUG Vanguard Morningstar Growth ETF U.S. stocks $9.4bn $3.2bn $12.7bn 16.1% 14 Dec 31, 2025 \n 12 XLK State Street Technology Select Sector SPDR ETF Sector stocks $7.3bn $4.7bn $12.0bn 26.2% 18 Sep 30, 2025 \n 13 SPYG State Street SPDR Portfolio S&P 500 Growth ETF U.S. stocks $6.9bn $4.0bn $10.9bn 57.2% 12 Jun 30, 2026 \n 14 XLE State Street Energy Select Sector SPDR ETF Sector stocks $4.5bn $6.2bn $10.7bn 23.4% 21 Sep 30, 2025 \n 15 XBI State Street SPDR S&P Biotech ETF Themes $5.6bn $5.0bn $10.6bn 17.6% 19 Jun 30, 2026 \n 16 JEPQ JPMorgan Nasdaq Equity Premium Income ETF Income $6.5bn $3.5bn $10.1bn 53.0% 6 Jun 30, 2026 \n 17 XLI State Street Industrial Select Sector SPDR ETF Sector stocks $5.8bn $4.2bn $10.0bn 18.7% 23 Sep 30, 2025 \n 18 XLP State Street Consumer Staples Select Sector SPDR ETF Sector stocks $4.5bn $4.4bn $8.9bn 20.3% 23 Sep 30, 2025 \n 19 VYM Vanguard High Dividend Yield ETF U.S. stocks $4.6bn $4.2bn $8.9bn 57.5% 10 Oct 31, 2025 \n 20 XLY State Street Consumer Discretionary Select Sector SPDR ETF Sector stocks $4.7bn $3.5bn $8.2bn 21.8% 16 Sep 30, 2025 \n 21 VFLO VictoryShares Free Cash Flow ETF U.S. stocks $4.3bn $3.6bn $7.9bn 59.2% 7 Jun 30, 2026 \n 22 KRE State Street SPDR S&P Regional Banking ETF Sector stocks $4.0bn $3.6bn $7.6bn 13.9% 17 Jun 30, 2026 \n 23 VCIT Vanguard Intermediate-Term Corporate Bond ETF Bonds $4.5bn $2.4bn $6.9bn 14.3% 11 Aug 31, 2025 \n 24 VCLT Vanguard Long-Term Corporate Bond ETF Bonds $2.2bn $4.2bn $6.4bn 21.0% 9 Aug 31, 2025 \n 25 JEPI JPMorgan Equity Premium Income ETF Income $3.9bn $2.4bn $6.3bn 56.6% 6 Jun 30, 2026 \n 26 VGIT Vanguard Intermediate-Term Treasury ETF Bonds $4.3bn $1.9bn $6.2bn 43.6% 7 Aug 31, 2025 \n 27 VGSH Vanguard Short-Term Treasury ETF Bonds $3.9bn $2.0bn $5.9bn 46.6% 7 Aug 31, 2025 \n 28 XLC State Street Communication Services Select Sector SPDR ETF Sector stocks $3.6bn $2.3bn $5.8bn 16.5% 18 Sep 30, 2025 \n 29 VO Vanguard Morningstar Mid-Cap ETF U.S. stocks $4.2bn $1.6bn $5.8bn 11.9% 14 Dec 31, 2025 \n 30 XLU State Street Utilities Select Sector SPDR ETF Sector stocks $3.1bn $2.7bn $5.8bn 20.2% 22 Sep 30, 2025 \n 31 VB Vanguard Morningstar Small-Cap ETF U.S. stocks $2.4bn $2.4bn $4.8bn 19.3% 14 Dec 31, 2025 \n 32 BSV Vanguard Short-Term Bond ETF Bonds $4.1bn $478m $4.5bn 27.8% 4 Dec 31, 2025 \n 33 VGT Vanguard Information Tech ETF Sector stocks $3.4bn $994m $4.4bn 16.3% 15 Aug 31, 2025 \n 34 JAVA JPMorgan Active Value ETF U.S. stocks $2.6bn $1.8bn $4.3bn 56.8% 7 Jun 30, 2026 \n 35 VV Vanguard Morningstar Large-Cap ETF U.S. stocks $2.5bn $1.8bn $4.3bn 59.2% 11 Dec 31, 2025 \n 36 VGLT Vanguard Long-Term Treasury ETF Bonds $1.4bn $2.8bn $4.2bn 46.5% 8 Aug 31, 2025 \n 37 XLB State Street Materials Select Sector SPDR ETF Sector stocks $1.9bn $2.0bn $4.0bn 20.6% 20 Sep 30, 2025 \n 38 CGDV Capital Group Dividend Value ETF U.S. stocks $2.4bn $1.5bn $3.9bn 12.5% 11 May 31, 2026 \n 39 XRT State Street SPDR S&P Retail ETF Sector stocks $1.6bn $2.1bn $3.7bn 14.8% 19 Jun 30, 2026 \n 40 VTEB Vanguard Tax-Exempt Bond ETF Bonds $3.0bn $676m $3.6bn 19.1% 10 Oct 31, 2025 \n 41 COWZ Pacer US Cash Cows 100 ETF U.S. stocks $532m $3.1bn $3.6bn 31.7% 11 Apr 30, 2026 \n 42 BNDX Vanguard Total International Bond ETF Bonds $3.4bn $36.7m $3.5bn 31.0% 5 Oct 31, 2025 \n 43 VOT Vanguard Morningstar Mid-Cap Growth ETF U.S. stocks $1.9bn $1.5bn $3.4bn 33.9% 12 Dec 31, 2025 \n 44 SCHD Schwab U.S. Dividend Equity ETF U.S. stocks $3.0bn $355m $3.3bn 9.3% 12 Aug 31, 2025 \n 45 SCHP Schwab U.S. TIPS ETF Bonds $1.8bn $1.5bn $3.3bn 46.2% 5 Dec 31, 2025 \n 46 XOP State Street SPDR S&P Oil & Gas Exploration & Production ETF Sector stocks $975m $2.2bn $3.1bn 13.7% 16 Jun 30, 2026 \n 47 JGRO JPMorgan Active Growth ETF U.S. stocks $2.3bn $785m $3.0bn 52.9% 8 Jun 30, 2026 \n 48 VTIP Vanguard Short-Term Inflation-Protected Securities Index Fund ETF Shares Bonds $2.1bn $886m $3.0bn 45.9% 8 Sep 30, 2025 \n 49 SPYV State Street SPDR Portfolio S&P 500 Value ETF U.S. stocks $2.5bn $471m $2.9bn 13.2% 13 Jun 30, 2026 \n 50 SPIB State Street SPDR Portfolio Intermediate Term Corporate Bond ETF Bonds $1.4bn $1.5bn $2.9bn 5.7% 12 Jun 30, 2026 \n 51 XME State Street SPDR S&P Metals & Mining ETF Themes $1.7bn $1.1bn $2.8bn 25.6% 15 Jun 30, 2026 \n 52 SCHX Schwab U.S. Large-Cap ETF U.S. stocks $1.9bn $811m $2.7bn 25.6% 12 Aug 31, 2025 \n 53 VXF Vanguard Extended Market ETF U.S. stocks $1.4bn $1.2bn $2.7bn 9.4% 16 Dec 31, 2025 \n 54 SPTL State Street SPDR Portfolio Long Term Treasury ETF Bonds $1.3bn $1.4bn $2.6bn 28.1% 6 Jun 30, 2026 \n 55 MSTY YieldMax MSTR Option Income Strategy ETF Income $1.8bn $725m $2.5bn 27.5% 7 Oct 31, 2025 \n 56 VONG Vanguard Russell 1000 Growth ETF U.S. stocks $2.1bn $285m $2.4bn 19.0% 12 Aug 31, 2025 \n 57 XHB State Street SPDR S&P Homebuilders ETF Sector stocks $1.2bn $1.2bn $2.4bn 22.4% 15 Jun 30, 2026 \n 58 BIV Vanguard Intermediate-Term Bond ETF Bonds $2.1bn $269m $2.4bn 31.2% 4 Dec 31, 2025 \n 59 MAGS Roundhill Magnificent Seven ETF U.S. stocks $961m $1.4bn $2.3bn 31.3% 7 Dec 31, 2025 \n 60 VONV Vanguard Russell 1000 Value ETF U.S. stocks $1.7bn $584m $2.3bn 32.0% 11 Aug 31, 2025 \n 61 VCSH Vanguard Short-Term Corporate Bond ETF Bonds $1.3bn $959m $2.2bn 7.0% 10 Aug 31, 2025 \n 62 BILZ PIMCO Ultra Short Government Active Exchange-Traded Fund Bonds $1.1bn $1.0bn $2.1bn 61.7% 5 Jun 30, 2026 \n 63 VIG Vanguard Div Appreciation ETF U.S. stocks $1.5bn $597m $2.1bn 11.4% 12 Jan 31, 2026 \n 64 SCHG Schwab U.S. Large-Cap Growth ETF U.S. stocks $1.9bn $228m $2.1bn 18.2% 9 Aug 31, 2025 \n 65 SCHO Schwab Short-Term U.S. Treasury ETF Bonds $1.8bn $282m $2.1bn 13.9% 7 Dec 31, 2025 \n 66 DSTL Distillate U.S. Fundamental Stability & Value ETF U.S. stocks $1.1bn $892m $2.0bn 88.7% 4 Sep 30, 2024 \n 67 HELO JPMorgan Hedged Equity Laddered Overlay ETF Alternatives $1.4bn $587m $2.0bn 65.2% 4 Oct 31, 2025 \n 68 SDY State Street SPDR S&P Dividend ETF U.S. stocks $905m $1.1bn $2.0bn 55.4% 10 Jun 30, 2026 \n 69 CGMM Capital Group U.S. Small and Mid Cap ETF U.S. stocks $1.7bn $311m $2.0bn 58.6% 14 May 31, 2026 \n 70 BITX 2x Bitcoin ETF Leverage $882m $1.0bn $1.9bn 37.8% 6 Feb 28, 2026 \n 71 VTWO Vanguard Russell 2000 ETF U.S. stocks $1.2bn $567m $1.7bn 17.8% 14 Aug 31, 2025 \n 72 SPTI State Street SPDR Portfolio Intermediate Term Treasury ETF Bonds $1.2bn $469m $1.7bn 37.8% 6 Jun 30, 2026 \n 73 SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF U.S. stocks $1.0bn $598m $1.6bn 27.8% 11 Jun 30, 2026 \n 74 MSTX Defiance Daily Target 2X Long MSTR ETF Leverage $518m $1.1bn $1.6bn 39.0% 8 Apr 30, 2026 \n 75 VBIL Vanguard 0-3 Month Treasury Bill ETF Bonds $1.4bn $187m $1.6bn 28.2% 5 Dec 31, 2025 \n 76 JQUA JPMorgan U.S. Quality Factor ETF U.S. stocks $1.2bn $415m $1.6bn 27.0% 7 Oct 31, 2025 \n 77 SPSB State Street SPDR Portfolio Short Term Corporate Bond ETF Bonds $975m $584m $1.6bn 15.5% 11 Jun 30, 2026 \n 78 BND Vanguard Total Bond Market ETF Bonds $992m $542m $1.5bn 5.0% 5 Dec 31, 2025 \n 79 SPAB State Street SPDR Portfolio Aggregate Bond ETF Bonds $1.1bn $410m $1.5bn 26.3% 4 Jun 30, 2026 \n 80 JTEK JPMorgan U.S. Tech Leaders ETF U.S. stocks $1.1bn $325m $1.5bn 45.6% 8 Jun 30, 2026 \n 81 MGK Vanguard Morningstar Mega Cap Growth ETF U.S. stocks $929m $505m $1.4bn 12.8% 12 Sep 30, 2025 \n 82 ULTY YieldMax Ultra Option Income Strategy ETF Income $1.1bn $326m $1.4bn 27.3% 5 Oct 31, 2025 \n 83 DFUS Dimensional U.S. Equity Market ETF U.S. stocks $1.2bn $141m $1.4bn 26.3% 10 Oct 31, 2025 \n 84 VUSB Vanguard Ultra-Short Bond ETF Bonds $1.1bn $300m $1.4bn 37.7% 7 Dec 31, 2025 \n 85 VBR Vanguard Morningstar Small-Cap Value ETF U.S. stocks $521m $818m $1.3bn 9.7% 13 Dec 31, 2025 \n 86 XLRE State Street Real Estate Select Sector SPDR ETF Sector stocks $845m $472m $1.3bn 15.9% 18 Sep 30, 2025 \n 87 CGGR Capital Group Growth ETF U.S. stocks $1.0bn $244m $1.2bn 8.8% 13 May 31, 2026 \n 88 DFAU Dimensional US Core Equity Market ETF U.S. stocks $1.2bn $79.0m $1.2bn 48.4% 9 Oct 31, 2025 \n 89 QLTY GMO U.S. Quality ETF U.S. stocks $930m $293m $1.2bn 61.8% 6 Feb 28, 2026 \n 90 SCHR Schwab Intermediate-Term U.S. Treasury ETF Bonds $913m $294m $1.2bn 13.3% 7 Dec 31, 2025 \n 91 BUYW Main BuyWrite ETF Income $694m $513m $1.2bn 70.5% 4 Oct 31, 2025 \n 92 VOOG Vanguard S&P 500 Growth ETF U.S. stocks $1.1bn $116m $1.2bn 12.4% 10 Aug 31, 2025 \n 93 YBTC Roundhill Bitcoin Covered Call Strategy ETF Income $596m $590m $1.2bn 77.7% 3 Dec 31, 2025 \n 94 DBMF iMGP DBi Managed Futures Strategy ETF Alternatives $696m $455m $1.2bn 61.4% 3 Dec 31, 2025 \n 95 MINT PIMCO Enhanced Short Maturity Active Exchange-Traded Fund Bonds $1.0bn $127m $1.1bn 25.5% 6 Jun 30, 2026 \n 96 RGTX Defiance Daily Target 2X Long RGTI ETF Leverage $515m $574m $1.1bn 46.8% 7 Apr 30, 2026 \n 97 IONX Defiance Daily Target 2X Long IONQ ETF Leverage $608m $477m $1.1bn 41.9% 5 Apr 30, 2026 \n 98 SCMB Schwab Municipal Bond ETF Bonds $1.1bn $0 $1.1bn 46.9% 8 Dec 31, 2025 \n 99 OKLL Defiance Daily Target 2X Long OKLO ETF Leverage $566m $493m $1.1bn 39.9% 6 Apr 30, 2026 \n 100 VNQ Vanguard Real Estate ETF Sector stocks $380m $655m $1.0bn 9.6% 15 Jan 31, 2026 \n \n ETFs where Merrill Lynch Professional Clearing was the only active AP\n In 15 ETFs, Merrill Lynch Professional Clearing Corp. was the one AP that created or redeemed shares in the period.\n ETFs where Merrill Lynch Professional Clearing was the only active AP, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Ticker Fund Created Redeemed APs listed Period ending \n 1 NUGO Nuveen Growth Opportunities ETF $152m $659m 16 Oct 31, 2025 \n 2 RONB Baron First Principles ETF $71.3m $0 4 Dec 31, 2025 \n 3 NUMI Nuveen Municipal Income ETF $24.2m $0 17 Mar 31, 2026 \n 4 SRHR SRH REIT Covered Call ETF $8.7m $8.6m 1 Oct 31, 2025 \n 5 BCSM Baron SMID Cap ETF $16.1m $0 4 Dec 31, 2025 \n 6 GYLD Arrow Dow Jones Global Yield ETF $8.8m $4.0m 11 Jan 31, 2026 \n 7 SCLZ Swan Enhanced Dividend Income ETF $8.1m $2.7m 5 Jun 30, 2026 \n 8 QSIX Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF $5.5m $0 1 Oct 31, 2025 \n 9 ARCM Arrow Reserve Capital Management ETF $5.0m $0 8 Jan 31, 2026 \n 10 MCDS JPMorgan Fundamental Data Science Mid Core ETF $2.5m $2.5m 23 Jun 30, 2026 \n 11 MYMH State Street My2028 Municipal Bond ETF $5.0m $0 40 Aug 31, 2025 \n 12 REGS Columbia Large Cap Growth ETF $0 $1.9m 15 Mar 31, 2026 \n 13 MBND State Street Nuveen Municipal Bond ETF $0 $1.4m 40 Jun 30, 2026 \n 14 DDTN Innovator Equity Dual Directional 10 Buffer ETF - Nov $948k $0 1 Oct 31, 2025 \n 15 ODHY Obra Defensive High Yield ETF $100k $0 1 Mar 31, 2026 \n \n Merrill Lynch Professional Clearing by category\n The ETFs Merrill Lynch Professional Clearing Corp. serves, by the category each is placed in, with what it created and redeemed in each.\n Merrill Lynch Professional Clearing by category, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Category Share of its dollars ETFs served Active in Created Redeemed Only active AP in \n 1 U.S. stocks 77.2% 334 306 $607.9bn $580.7bn 5 \n 2 International stocks 0.5% 205 81 $6.8bn $94.7m 0 \n 3 Sector stocks 8.6% 72 67 $69.1bn $63.2bn 1 \n 4 Bonds 7.4% 331 208 $77.0bn $36.6bn 5 \n 5 Commodities 0.1% 9 7 $1.5bn $674m 0 \n 6 Allocation 0.1% 22 21 $847m $481m 1 \n 7 Buffer 0.5% 145 145 $6.8bn $1.1bn 1 \n 8 Income 1.9% 132 126 $19.1bn $10.5bn 2 \n 9 Themes 2.5% 70 47 $20.5bn $18.0bn 0 \n 10 Leverage 0.9% 71 71 $6.3bn $7.5bn 0 \n 11 Crypto 0.0% 2 1 $1.4m $602k 0 \n 12 Alternatives 0.3% 28 24 $2.8bn $1.3bn 0 \n \n Questions people ask\n Is Merrill Lynch Professional Clearing an ETF authorized participant (AP)? Yes. Merrill Lynch Professional Clearing Corp. is listed as an AP for 1,421 US ETFs in Form N-CEN periods ending Jul 31, 2024 to Jun 30, 2026, and created or redeemed shares in 1,104 of them. Which ETFs does Merrill Lynch Professional Clearing create and redeem the most? By dollars created and redeemed: SPY, $808.2bn; VOO, $133.2bn; SPYM, $31.2bn; SMH, $22.4bn; DIA, $21.7bn. How much of an ETF\u2019s AP activity does Merrill Lynch Professional Clearing handle? Across the 1,104 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.2% to 100.0%. It was the only active AP in 15 ETFs. Where do these figures come from? From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by Merrill Lynch Professional Clearing\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n Merrill Lynch Professional Clearing Corp. is identified by CRD 16139, SEC file number 8-33359, LEI 549300PMHS66E71I2D34. Its SEC file number is not on the SEC\u2019s list of active broker-dealers dated Oct 1, 2026. Funds filed its name 11 ways; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF\u2019s latest Form N-CEN, with the dollars of the fund\u2019s shares it purchased from the fund (created) and redeemed in the fund\u2019s reporting period, as filed. A fund\u2019s period is its own fiscal year, or less where the filing says so, so a firm\u2019s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there. A firm\u2019s name is its registration on the SEC\u2019s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.\n Where to next\n Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Every ETF authorized participant (AP) The most active APs Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Most active APs for bond ETFs ETF lead market makers (LMMs) How the AP list is built The open data file Fund flows Where these figures came from\n SEC Form N-CEN data sets, the source of every AP row Form N-CEN, item E.2: each authorized participant and its dollars SEC list of active broker-dealers, the source of each firm\u2019s registered name ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A list of firms is not a rating or a recommendation. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, Merrill Lynch Professional Clearing Corp. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, Merrill Lynch Professional Clearing Corp. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/ APA ETFIQ. (Sep 23, 2026). Merrill Lynch Professional Clearing Corp. as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/ Markdown [Merrill Lynch Professional Clearing Corp. as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, Merrill Lynch Professional Clearing Corp. as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/merrill-lynch-professional-clearing/"}