- The 40 venues we track executed 18.84% of pan-European on-venue turnover in November, up 7 bps m/m (+187 bps y/y).
- Periodic auctions (+15 bps) and dark MTFs (+14 bps) gained market share m/m, while ELP SIs (-21 bps) lost market share m/m.
- Together, venues in our universe executed €9.76 billion per day, up 9.05% m/m (+2.67% y/y). Our universe accounted for 12.90% of consolidated turnover, including on-venue and OTC, up 13 bps m/m.
- Dark MTFs hit a market share high, with smaller UK venues making gains
- XTX Markets ELP SI sustains its recent momentum
- Bank SI volumes continue to fall