- Average daily value traded dropped 3.36% m/m (+23.61 y/y), to €86.48 billion.
- The VSTOXX average daily close fell 0.04% m/m to 29.46, while the FTSE 100 IVI climbed 21.97% m/m to 22.54.
- Closing auctions (+158 bps m/m), bank SIs (+23 bps m/m) and periodic auctions (+4 bps m/m) gained market share. Over-the-counter trading (-74 bps m/m), lit books (-72 bps m/m), ELP SIs (-21 bps m/m), opening auctions (-11 bps m/m) and dark MTFs (-7 bps m/m) all lost market share. Closing-auction volume spiked to 40.8% of consolidated value traded on May 31 following the rebalance of MSCI indices. Lit market share slumped to 36.5%, its lowest total since May 2014.
- The London Stock Exchange (+28 bps m/m) and Cboe CXE Europe (+24 bps m/m) gained the most pan-European on-venue market share. Deutsche Börse (-40 bps m/m) lost the most (see table, page 5). Cboe Europe’s group market share reached 23.34%, just 63 bps behind the largest exchange group Euronext.
- Among the national exchanges we follow, Euronext Brussels (+183 bps m/m, BEL 20), Euronext Lisbon (+181 bps m/m, PSI 20) and the London Stock Exchange (+180 bps m/m, FTSE 250) gained the most market share in a home index. Bolsas y Mercados Españoles (-212 bps m/m, IBEX 35) and Deutsche Börse (-204 bps m/m, DAX) suffered the biggest declines.
- Alternative closing-auction market share declined 70 bps, accounting for 6.44% of total end-of-day activity.
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