- Average daily value traded fell 3.16% m/m (-13.08% y/y) to €59.11 billion, despite volatility, measured by the VSTOXX average daily close, rising 5.06% m/m (-24.94% y/y) to 14.09.
- Periodic auctions gained 63 bps m/m of market share, reaching a new all-time high of 3.65%.
- Lit trading (+146 bps m/m), dark MTFs (+98 bps m/m), and ELP SIs (+15 bps m/m) also gained market share, while OTC trading (-142 bps m/m), closing auctions (-137 bps m/m), opening auctions (-24 bps m/m) and bank SIs (-18 bps m/m) lost ground, with bank SI market share falling below that of dark MTFs for the first time since MiFID II.
- Cboe Periodic (EU) (+54 bps m/m) gained the most on-venue market share among European trading venues; Deutsche Börse (-78 bps m/m), SIX Swiss Exchange (-52 bps m/m) and the London Stock Exchange (-51 bps m/m) lost the most.
- Among major national listing exchanges, Euronext Brussels (+0 bps m/m, BE 20) was the only venue not to cede market share in its home index; Euronext Paris (-592 bps m/m, FR 40), Euronext Lisbon (-589 bps m/m, PT 20) and Euronext Amsterdam (-433 bps m/m, NL 25) lost the most.
- Alternative closing-auction market share increased 120 bps m/m, accounting for 7.19% of total on-venue end-of-day activity.
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