- Average daily value traded jumped 28.15% m/m (+30.26% y/y) to €81.52 billion as volatility, measured by the VSTOXX average daily close, rose 10.23% m/m (+5.60% y/y) to 17.23.
- Lit continuous trading (+448 bps m/m) gained the most market share, followed by dark order books (+143 bps m/m) and bank SIs (+88 bps m/m). ELP SIs (+53 bps m/m) reached a new all-time high, while periodic auctions added 33 bps m/m. OTC trading (-422 bps m/m), closing auctions (-332 bps m/m) and opening auctions (-12 bps m/m) lost market share.
- Turquoise Periodic Auctions UK (+59 bps m/m), Deutsche Börse Xetra (+55 bps m/m) and Nasdaq Stockholm (+50 bps m/m) gained the most on-venue market share, while the London Stock Exchange (-111 bps m/m), Euronext Amsterdam (-106 bps m/m) and SIX Swiss Exchange (-94 bps m/m) lost the most.
- All the major national listing exchanges we track lost market share in their home indices, with Euronext Paris (-464 bps m/m, FR 40), the London Stock Exchange (-365 bps m/m, UK 100) and Euronext Brussels (-337 bps m/m, BE 20) ceding the most.
- Alternative closing-auction mechanisms accounted for 9.29% of total on-venue end-of-day activity in January, up 98 bps m/m to the highest level ever.
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