{"url":"https://etfiq.com/trading/lead-market-makers/pundion/","section":"trading","title":"Pundion: ETF Lead Market Maker (LMM) | ETFIQ","description":"Pundion is the lead market maker (LMM) for 16 US ETFs, per NYSE Arca, as of Oct 23, 2026. Credited to each exchange.","as_of":"Oct 23, 2026","structured_data":[{"@type":"Corporation","name":"Pundion","url":"https://etfiq.com/trading/lead-market-makers/pundion/"},{"@type":"ItemList","name":"ETFs Pundion is the lead market maker for","numberOfItems":16,"itemListOrder":"https://schema.org/ItemListUnordered","itemListElement":[{"@type":"ListItem","name":"CANE","url":"https://etfiq.com/funds/cane"},{"@type":"ListItem","name":"DIG","url":"https://etfiq.com/funds/dig"},{"@type":"ListItem","name":"DOG","url":"https://etfiq.com/funds/dog"},{"@type":"ListItem","name":"DUG","url":"https://etfiq.com/funds/dug"},{"@type":"ListItem","name":"EUM","url":"https://etfiq.com/funds/eum"},{"@type":"ListItem","name":"EUO","url":"https://etfiq.com/funds/euo"},{"@type":"ListItem","name":"FXP","url":"https://etfiq.com/funds/fxp"},{"@type":"ListItem","name":"PSQ","url":"https://etfiq.com/funds/psq"},{"@type":"ListItem","name":"QLD","url":"https://etfiq.com/funds/qld"},{"@type":"ListItem","name":"SDOW","url":"https://etfiq.com/funds/sdow"},{"@type":"ListItem","name":"TBF","url":"https://etfiq.com/funds/tbf"},{"@type":"ListItem","name":"VDE","url":"https://etfiq.com/funds/vde"},{"@type":"ListItem","name":"VGT","url":"https://etfiq.com/funds/vgt"},{"@type":"ListItem","name":"VO","url":"https://etfiq.com/funds/vo"},{"@type":"ListItem","name":"VOE","url":"https://etfiq.com/funds/voe"},{"@type":"ListItem","name":"VXF","url":"https://etfiq.com/funds/vxf"}]},{"@type":"DefinedTerm","name":"lead market maker","alternateName":["LMM"],"description":"The market maker a listing exchange assigns to an ETF to keep a bid and an ask on the exchange through the trading day, under that exchange\u2019s quoting rules.","inDefinedTermSet":"https://etfiq.com/methodology/authorized-participants#glossary"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Is Pundion a lead market maker (LMM)?","acceptedAnswer":{"@type":"Answer","text":"Yes. Pundion is the lead market maker (LMM) for 16 US ETFs on the lists NYSE Arca publish. Lead market maker per NYSE Arca, as of Oct 23, 2026."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Lead market makers","item":"https://etfiq.com/trading/lead-market-makers/"},{"@type":"ListItem","position":3,"name":"Pundion","item":"https://etfiq.com/trading/lead-market-makers/pundion/"}]},{"@type":"WebPage","name":"Pundion: ETF Lead Market Maker (LMM)","description":"Pundion is the lead market maker (LMM) for 16 US ETFs, per NYSE Arca, as of Oct 23, 2026. Credited to each exchange.","url":"https://etfiq.com/trading/lead-market-makers/pundion/","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":4183,"truncated":false,"content":"ETFIQ / Lead market makers / Pundion \n \n As of Oct 23, 2026 . From each listing exchange\u2019s own list.\n Pundion\n Pundion is the lead market maker (LMM) for 16 US ETFs: 16 on NYSE Arca. Lead market maker per NYSE Arca, as of Oct 23, 2026.\n The ETFs Pundion is the lead market maker for, by exchange. Lead market maker per NYSE Arca, as of Oct 23, 2026. Ticker Fund Category Exchange Credit \n CANE Teucrium Sugar Fund ETV Commodities NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n DIG ProShares Ultra Energy Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n DOG ProShares Short Dow30 Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n DUG ProShares UltraShort Energy Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n EUM ProShares Short MSCI Emerging Markets Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n EUO ProShares UltraShort Euro Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n FXP ProShares UltraShort FTSE China 50 Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n PSQ ProShares Short QQQ Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n QLD ProShares Ultra QQQ Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n SDOW ProShares UltraPro Short Dow30 Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n TBF ProShares Short 20+ Year Treasury Leverage NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n VDE Vanguard Energy ETF Sector stocks NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n VGT Vanguard Information Tech ETF Sector stocks NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n VO Vanguard Morningstar Mid-Cap ETF U.S. stocks NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n VOE Vanguard Morningstar Mid-Cap Value ETF U.S. stocks NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n VXF Vanguard Extended Market ETF U.S. stocks NYSE Arca Lead market maker per NYSE Arca, as of Oct 23, 2026 \n \n Questions people ask\n Is Pundion a lead market maker (LMM)? Yes. Pundion is the lead market maker (LMM) for 16 US ETFs on the lists NYSE Arca publish. Lead market maker per NYSE Arca, as of Oct 23, 2026. Method\n Each row is one ETF on one listing exchange\u2019s own list of the market makers it assigns: NYSE Arca\u2019s list of its listed ETPs and their lead market makers, Cboe BZX\u2019s LMM Securities list and Nasdaq\u2019s ETF definitions, where the role is called Designated Liquidity Provider (a Market Quality Supporter is not counted). ETFIQ reads each list once a week as ETFIQ, credits it to its exchange beside every figure, and keeps only the ETFs it covers. A firm is joined to its authorized participant page only where its name is, letter for letter, a broker-dealer\u2019s registered name on the SEC\u2019s list and that registration is the AP firm\u2019s. An exchange that refuses the read shows as not published, with the day.\n Where to next\n Every ETF lead market maker (LMM) Every ETF authorized participant (AP) What an AP and an LMM are The open data file Where these figures came from\n NYSE Arca: its list of lead market makers Cboe BZX: its list of lead market makers Nasdaq: its list of lead market makers 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, Pundion as an ETF lead market maker, data as of Oct 23, 2026. https://etfiq.com/trading/lead-market-makers/pundion/ 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, Pundion as an ETF lead market maker, data as of Oct 23, 2026. https://etfiq.com/trading/lead-market-makers/pundion/ APA ETFIQ. (Oct 23, 2026). Pundion as an ETF lead market maker. Retrieved from https://etfiq.com/trading/lead-market-makers/pundion/ Markdown [Pundion as an ETF lead market maker (ETFIQ, Oct 23, 2026)](https://etfiq.com/trading/lead-market-makers/pundion/)","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, Pundion as an ETF lead market maker, data as of Oct 23, 2026. https://etfiq.com/trading/lead-market-makers/pundion/"}