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Let There Be Light - European Edition

February 27, 2020
  • The 27 alternative venues we track executed 17.23% of pan-European on-venue turnover in January, up 240 bps m/m (+407 bps y/y)
  • Dark MTFs gained 182 bps market share, reaching a record of 10.51% on-venue turnover
  • Electronic-liquidity provider systematic internalizers grew +24 bps month-on-month and also hit a new on-venue market share record of 4.06%
  • Periodic-auction market share grew +34 bps to 2.65%
  • Together, these three types of venues executed €7.51 billion per day, up 22.97% m/m (+34.27% y/y)
  • We’ve made adjustments to the way we present volume data to provide a more consistent view of trading-venue trends
  • The European Commission and ESMA unveil MiFID II reviews that could transform European equity trading
  • Cboe fine-tunes its 3C closing-auction alternative

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