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US Securities Volumes

Let There Be Light - European Edition

December 18, 2020
  • The 27 venues we track executed 16.97% of pan-European on-venue turnover in September, down 53 bps m/m (+163 bps y/y)
  • Only periodic auctions (+3 bps) gained volume last month. Dark MTFs lost 11 bps market share, while ELP SIs lost 46 bps
  • Together, the venues in our universe executed €9.5 billion per day, up 36.96% (+50.81% y/y). Total on-venue trading, including displayed activity, grew 41.28% m/m (+36.31% y/y) to €56 billion. Our universe accounted for 11.7% of consolidated turnover, including on-venue and OTC, up 4 bps m/m
  • Oslo Børs shutters dark pool
  • The FCA plans changes that could see the UK attract dark-pool trading in EU names after Brexit

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