Let There Be Light - European Edition

October 30, 2018

Dark MTF market share grew 48 basis points in September (-158 bps y/y) to 3.92% of pan-European turnover
Dark MTFs executed just over €3.27 billion per day, up 40.77% m/m (-21.44% y/y)
Systematic internalizers traded €18.63 billion in September, or 22.32% of consolidated turnover, up 217 bps m/m. However, SI data is still overstated due to inconsistent trade reporting practices
Large-in-scale venues are hit hard following the expiry of the first set of MiFID II’s double volume caps on dark pools
ESMA starts naming and shaming venues that submit incorrect dark pool data
We take a look at Virtu’s systematic internalizer volumes for H1 2018

Market Structure Reports