- The 40 venues we track executed 17% of pan-European on-venue turnover in March, up 44 bps m/m (+167 bps y/y)
- All types of venue we track gained market share, with periodic auctions reaching a record high market share. ELP Sis gained 23 bps m/m, followed by periodic auctions (+15 bps) and dark MTFs (+6 bps)
- Together, the venues in our universe executed €7.77 billion per day, down 12.99% m/m (+4.54% y/y). Total on-venue trading, including displayed activity, fell 13.02% (-3.3% y/y) to €46.9 billion
- Our universe accounted for 10.94% of consolidated turnover, including on-venue and OTC, down 18 bps m/m
- UK dark market share set to rise as MiFID II caps expire
- Dark trade sizes hit multi-year low