November 10, 2026
- Average daily value traded rose 2.51% m/m (+16.06% y/y) to €85.13 billion. Volatility, measured by the VSTOXX average daily close, climbed 9.20% m/m (+9.32% y/y) to 19.41.
- Systematic internalisers (+177 bps m/m), lit continuous trading (+157 bps m/m), dark books (+143 bps m/m) and periodic auctions (+27 bps m/m) gained the most market share. Open & close auctions (-250 bps m/m), OTC (-247 bps m/m) and Off-Book, On-Exchange (-7 bps m/m) lost ground.
- Cboe DXE Europe (+75 bps m/m) gained the most on-venue market share. SIX Swiss Exchange (-83 bps m/m), Deutsche Börse Xetra (-82 bps m/m) and the London Stock Exchange (-76 bps m/m) lost the most ground.
- All of the major national listing exchanges we follow lost market share in their home indices, with Bolsas y Mercados Españoles (-401 bps m/m, ES 35), SIX Swiss Exchange (-397 bps m/m, CH 20) and Euronext Paris (-393 bps m/m, FR 40) losing the most.
- Alternative closing-auction mechanisms accounted for 7.78% of total on-venue end-of-day activity in October, down 40 bps m/m.
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