- Average daily value traded dropped 20.24% m/m (+7.33% y/y) to €58.59 billion as volatility, measured by the VSTOXX average daily close, fell 10.01% m/m (-4.13% y/y) to 15.08.
- Dark order books and periodic auctions both set record market shares for on-venue trading, rising 143 bps m/m to 7.76%, and 69 bps m/m to 4.11%, respectively.
- Lit trading (+435 bps m/m), ELP SIs (+41 bps m/m) and bank SIs (+40 bps m/m) all gained market share as well; OTC trading (-516 bps m/m), closing auctions (-192 bps m/m) and opening auctions (-20 bps m/m) lost ground.
- Euronext Amsterdam (+43 bps m/m) gained the most on-venue market share among European trading venues, while Euronext Paris (-109 bps m/m), Deutsche Börse (-106 bps m/m) and the London Stock Exchange (-87 bps m/m) lost the most.
- All the major national listing exchanges we track lost market share in their home indices, with Euronext Brussels (-656 bps m/m, BE 20), the London Stock Exchange (-567 bps m/m, UK 100; -545 bps m/m, UK 250) and Euronext Amsterdam (-445 bps m/m, NL 25) shedding the most.
- Alternative closing auction market share rose 139 bps m/m to a record 8.45% of total on-venue end-of-day activity.
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