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European Securities Volumes: December and 2022 Year-In-Review

January 23, 2023
  • Our special year-in-review section, starting page 13, highlights annual European equity-trading trends.
  • December average daily value traded fell 10.58% m/m (-0.90% y/y), to €62.82 billion.
  • The VSTOXX average daily close dipped 4.17% m/m (-8.47% y/y) to 20.77, while the FTSE 100 IVI declined 8.47% m/m (-16.70% y/y) to 15.09.
  • Closing (+236 bps m/m) and periodic (+44 bps m/m) auctions both recorded their highest market share in our seven-year data set.
  • OTC trading (+10 bps m/m), bank SIs and opening auctions (+13 bps m/m) also gained market share, while lit trading (-360 bps m/m), dark MTFs (-98 bps m/m) and ELP SIs (-13 bps m/m) lost ground.
  • SIX Swiss (+75 bps m/m) and Euronext Paris (+57 bps m/m) gained the most pan-European on-venue market share. Virtu Posit (EU) (-85 bps m/m) and Borsa Italiana (-44 bps m/m) lost the most.
  • Among the national exchanges we track, Bolsas y Mercados Españoles (+445 bps m/m, ES 35), the London Stock Exchange (+421 bps m/m, UK 250) and Nasdaq Helsinki (+390 bps m/m, FI 25) gained the most market share in their home indices. Only Euronext Lisbon (-30 bps m/m, PT 20), Euronext Brussels (-24 bps m/m, BE 20) and Borsa Italiana (-22 bps m/m, IT 40) lost market share.

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