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European Securities Volumes: June 2025

European Securities Volumes: June 2025
  • Average daily value traded edged down 0.06% m/m (+17.22% y/y) to €70.99 billion as volatility, measured by the VSTOXX average daily close, increased 4.06% m/m (+17.01% y/y) to 19.61.
  • OTC trading (+113 bps m/m), dark books (+69 bps m/m), closing auctions (+41 bps m/m), ELP SIs (+31 bps m/m), opening auctions (+19 bps m/m) and periodic auctions (+2 bps m/m) all gained market share, while lit continuous trading (-255 bps m/m) and bank SIs (-18 bps m/m) lost ground.
  • Jane Street JX-EU (+79 bps m/m) — the combined total for the Amsterdam and London SIs — and the London Stock Exchange (+66 bps m/m) gained the most on-venue market share, while Borsa Italiana (-71 bps m/m) and Cboe DXE Europe (-67 bps m/m) lost the most.
  • Of the major national listing exchanges, the London Stock Exchange (+164 bps m/m, UK 250; +82 bps m/m, UK 100) gained the most market share in its home indices. Euronext Lisbon (-292 bps m/m, PT 20), Bolsas y Mercados Españoles (-211 bps m/m, ES 35) and Nasdaq Stockholm (-189 bps m/m, SE 30) lost the most ground.
  • Alternative closing-auction mechanisms accounted for 8.09% of total on-venue end-of-day activity in June, down 12 bps m/m.

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