- Average daily value traded rose 4.34% m/m (+27.88% y/y) to €72.98 billion as volatility, measured by the VSTOXX average daily close, climbed 5.59% m/m (-8.18% y/y) to 17.76.
- Lit trading (+313 bps m/m) gained the most market share, followed by periodic auctions (+88 bps m/m to a record-high 8.19% of consolidated value traded), bank SIs (+59 bps m/m), and ELP SIs (+26 bps m/m to a record 4.13%). Closing auctions (-262 bps m/m), OTC trading (-219 bps m/m), opening auctions (-3 bps m/m) and dark order books (-2 bps m/m) all declined.
- Cboe Periodic (EU) (+69 bps m/m) gained the most on-venue market share, while Deutsche Börse (-114 bps m/m) and the London Stock Exchange (-84 bps m/m) lost the most.
- All of the major national listing exchanges we track lost market share in their home indices, with Deutsche Börse (-637 bps m/m, DE 40), Nasdaq Helsinki (-414 bps m/m, FI 25) and Euronext Brussels (-360 bps m/m, BE 20) losing the most.
- Alternative closing-auction mechanisms accounted for 8.19% of total on-venue end-of-day activity in October, up 32 bps m/m.
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