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European Securities Volumes: January 2023

European Securities Volumes: January 2023
  • Average daily value traded rose 10.22% m/m (-19.49% y/y), to €68.00 billion.
  • The VSTOXX average daily close dropped 9.66% m/m (-18.35% y/y) to 18.77, while the FTSE 100 IVI declined 5.61% m/m (-20.31% y/y) to 14.24.
  • Periodic auctions (+38 bps m/m) recorded their highest market share in our seven-year data set.
  • Lit trading (+248 bps m/m), dark MTFs (+133 bps m/m) and ELP SIs (+13 bps m/m) also gained market share, while closing auctions (-255 bps m/m), bank SIs (-90 bps m/m), OTC trading (-70 bps m/m) and opening auctions (-21 bps m/m) lost ground.
  • Cboe DXE (+89 bps m/m) and Borsa Italiana (+52 bps m/m) gained the most pan-European on-venue market share. The London Stock Exchange (-142 bps m/m), SIX Swiss Exchange (-69 bps m/m) and Euronext Paris (-63 bps m/m) lost the most.
  • All the national exchanges we track lost market share in in their home indices, with the London Stock Exchange (-662 bps m/m, UK 250), Bolsas y Mercados Españoles (-619 bps m/m, ES 35) and Euronext Paris (-464 bps m/m, FR 40) giving up the most.

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