June 23, 2026
- Average daily value traded fell 3.02% m/m (+26.66% y/y) to €93.00 billion. Volatility, measured by the VSTOXX average daily close, dropped 8.12% m/m (15.46% y/y) to 21.76.
- OTC trading (+199 bps m/m) gained the most market share, followed by closing auctions (+145 bps m/m) and bank SIs (+6 bps m/m). Lit trading (-171 bps m/m), periodic auctions (-72 bps m/m), dark books (-61 bps m/m), ELP SIs (-32 bps m/m) and opening auctions (-14 bps m/m) lost market share.
- Deutsche Börse Xetra (+42 bps m/m) gained the most on-venue market share, while Cboe Periodic Auctions (EU) (-37 bps m/m) lost the most.
- Among major national listing exchanges, the London Stock Exchange (+308 bps m/m, UK 100) and Euronext Paris (+296 bps m/m, FR 40) gained the most market share in their home indices. Only Euronext Brussels (-125 bps m/m, BE 20), Borsa Italiana (-48 bps m/m, IT 40) and Bolsas y Mercados Españoles (-40 bps m/m, ES 35) lost market share.
- Alternative closing-auction mechanisms accounted for 8.32% of total on-venue end-of-day activity in May, up 18 bps m/m.
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