• Our special year-in-review section, starting on page 13, shows how extreme volatility in 2020 affected equity-trading dynamics
• Average daily value traded in December dropped 24.33% m/m (-6.99 y/y), to €61.65 billion, while volatility fell, with the VSTOXX average daily close down 7.79% m/m and the FTSE 100 IVI down 0.14% m/m
• Over-the-counter trading gained the most market share in December, followed by systematic internalizers and opening auctions. Lit trading, dark pools and periodic auctions lost share, while closing-auction market share remained flat
• Nasdaq Stockholm, Nasdaq Copenhagen and Nasdaq Helsinki posted the largest m/m gains in pan-European on-venue market share. Euronext Paris lost the most
• The London Stock Exchange, Deutsche Börse and Euronext Brussels gained the most market share in their home indexes. Borsa Italiana lost the most