Canadian Trading Monthly
Monthly ETP Review
US Securities Volumes
February 13, 2020
- January average daily turnover increased 0.65% m/m (+6.96% y/y), to €66.7 billion, as the average daily closing value of the VSTOXX fell 1.24% m/m (-22.84% y/y), to 13.45, and the FTSE 100 IVI dropped 12.68% m/m (-29.72% y/y), to 12.12.
- Lit market share (+296 bps m/m) increased the most in January, followed by dark (+122 bps m/m) and periodic auctions (+21 bps m/m). SIs (-159 bps m/m) suffered the steepest market-share decline, followed by OTC (-132 bps m/m) and closing auctions (-132 bps m/m).
- Deutsche Börse (+38 bps m/m) posted the largest m/m gain in pan-European on-venue market share. The London Stock Exchange (-231 bps m/m) lost the most share.
- All major venues we track lost on-venue market share in their home indices except SIX Swiss Exchange, which gained 12 bps. Euronext Lisbon (-790 bps, PSI 20), Bolsas y Mercados Españoles (-642 bps, IBEX) and Euronext Paris (-422 bps, CAC 40) had the biggest losses