- Average daily value traded fell 6.16% m/m (-14.53% y/y) to €64.11 billion, while volatility, as measured by the VSTOXX average daily close, dropped 18.39% m/m (-45.80% y/y) to 14.89.
- Lit continuous trading’s market share fell (-4 bps m/m) for a second consecutive month to a new record low, 31.39%, in our data series that goes back to January 2011.
- Closing auction (+165 bps m/m) market share, which we break out back through July 2016, also reached a record high (16.66%).
- Dark MTFs (+52 bps m/m), ELP SIs (+22 bps m/m), opening (+18 bps m/m) and periodic auctions (+18 bps m/m) gained market share, while OTC trading (-182 bps m/m) and bank SIs (-90 bps m/m) lost ground.
- The London Stock Exchange (+75 bps m/m) gained the most on-venue market share among European trading venues. Cboe DXE (-79 bps m/m) lost the most.
- Of the national listing exchanges we track, Bolsas y Mercados Españoles (+237 bps m/m, ES 35), Euronext Brussels (+163 bps m/m, BE 20) and Nasdaq Copenhagen (+138 bps m/m, DK 25) gained market share in their home indices. Nasdaq Stockholm (-190 bps m/m, SE 30) lost the most market share.
- Alternative closing-auction market share increased 42 bps, accounting for 5.33% of total end-of-day activity.
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