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Let There Be Light - European Edition

September 24, 2021
  • The 40 venues we track executed 16.83% of pan-European on-venue turnover in August, up 66 bps m/m (+101 bps y/y)
  • All venue types gained market share. Dark MTFs grew the fastest (+28 bps), followed by ELP SIs (+25 bps) and periodic auctions (+13 bps)
  • Together, venues in our universe executed €6.46 billion per day, down 10.19% m/m (+19.77% y/y). Total on-venue (including displayed) trading fell 13.69% m/m (+12.56% y/y) to €38.4 billion. Our universe accounted for 11.82% of consolidated turnover, including on-venue and OTC, up 127 bps m/m
  • FTSE 250 dark-market share hits a record-high
  • Cboe LIS overtakes Liquidnet to become the largest block venue
  • Turquoise Plato implements lower LIS thresholds on its UK platform

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