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Let There Be Light - European Edition

October 26, 2021
  • The 40 venues we track executed 16.91% of pan-European on-venue turnover in September, up 8 bps m/m (+135 bps y/y).
  • Dark MTFs (+27 bps) and periodic auctions (+7 bps) gained market share m/m, while ELP SIs (-25 bps) declined.
  • Together, venues in our universe executed €8.20 billion per day, up 26.89% m/m (+27.26% y/y). Our universe accounted for 11.59% of consolidated turnover, including on-venue and OTC, down 23 bps m/m.
  • Periodic-auction market share climbs to a new record, while UK dark trading decreases.
  • Goldman Sachs moves Sigma X MTF to a proprietary matching engine.
  • Cboe launches directed IOIs on its EU venue.

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