Canadian Trading Monthly
Monthly ETP Review
US Securities Volumes
January 27, 2020
- Market share for the 14 dark multilateral trading facilities in our universe fell 52 bps m/m in December, to 4.50% of pan-European consolidated turnover.
- Dark MTFs executed €3.58 billion per day, down 2.41% m/m. Consolidated turnover increased by 8.91% m/m to €79.5 billion daily.
- Systematic internalizer ADVT rose 18.2% m/m to €17.8 billion. The six electronic-liquidity-provider SIs that report to us traded €1.58 billion per day in December, accounting for 1.98% of total volume
- Instinet brings Blockcross to Europe
- Aquis Market-at-Close continues to build volume
- Dark MTFs gain share in 2019, with reference-price trades appearing to fuel the rise
- Turquoise Plato remains the largest dark pool, but rivals gain ground
- Average dark execution size reaches another record
- Periodic-auction activity continues to inch higher amid regulatory worries
- ELP SIs jostle for position and become an established part of the trading-venue landscape