- Average daily value traded fell 6.91% m/m (-10.21% y/y) to €50.80 billion, the lowest level since August 2020, while volatility, as measured by the VSTOXX average daily close, jumped 17.90% m/m (-22.88% y/y) to 18.55.
- Bank SIs (+165 bps m/m), closing auctions (+98 bps m/m) and OTC trading (+20 bps m/m) gained market share, while lit trading (-146 bps m/m), dark MTFs (-88 bps m/m), periodic auctions (-27 bps m/m), ELP SIs (-14 bps m/m) and opening auctions (-7 bps m/m) lost ground.
- Euronext Amsterdam (+76 bps m/m), Nasdaq Copenhagen (+72 bps m/m) and Deutsche Börse (+51 bps m/m) gained the most on-venue market share among European trading venues. Aquis Exchange (EU) (-44 bps m/m) lost the most.
- All the national listing exchanges we track increased market share in their home indices, with Nasdaq Stockholm (+424 bps m/m, SE 30), Bolsas y Mercados Españoles (+281 bps m/m, ES 35) and Euronext Paris (+263 bps m/m, FR 40) gaining the most.
- Alternative closing-auction market share fell 223 bps m/m, accounting for 4.21% of total end-of-day activity.
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