- Average daily value traded declined 0.79% m/m (+4.27% y/y) to €76.20 billion as volatility, measured by the VSTOXX average daily close, rose 23.05% m/m (-8.65% y/y) to 16.46.
- OTC trading (+131 bps m/m), lit trading (+120 bps m/m), periodic auctions (+39 bps m/m) and ELP SIs (+24 bps m/m) all gained market share, while closing auctions (-222 bps m/m), bank SIs (-46 bps m/m), opening auctions (-27 bps m/m) and dark MTFs (-18 bps m/m) lost ground.
- Cboe Periodic (EU) (+48 bps m/m) gained the most on-venue market share among European trading venues; Borsa Italiana (-70 bps m/m), SIX Swiss Exchange (-66 bps m/m) and Deutsche Börse (-58 bps m/m) lost the most.
- Among the major national listing exchanges we track, only Nasdaq Copenhagen (+32 bps m/m, DK 25) and Euronext Brussels (+25 bps m/m, BE 20) gained market share in their home indices; Nasdaq Stockholm (-264 bps m/m, SE 30), SIX Swiss Exchange (-239 bps m/m, CH 20) and Euronext Amsterdam (-236 bps m/m, NL 25) lost the most.
- Alternative closing-auction market share increased 136 bps m/m, accounting for 7.99% of total on-venue end-of-day activity.
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