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European Securities Volumes: September 2022

European Securities Volumes: September 2022
  • Average daily value traded jumped 23.06% m/m (-1.59 y/y), to €69.62 billion, fueled in part by index rebalancing on September 16th.
  • The VSTOXX average daily close rose 15.69% m/m (+31.04% y/y) to 27.83, while the FTSE 100 IVI climbed 20.89% m/m (+15.95% y/y) to 21.68.
  • Bank SIs (+143 bps m/m), closing auctions (+92 bps m/m) and opening auctions (+3 bps m/m) gained market share. Over-the-counter trading (-109 bps m/m), lit trading (-71 bps m/m) dark MTFs (-34 bps m/m), ELP SIs (-19 bps m/m) and periodic auctions (-6 bps m/m) lost ground.
  • The London Stock Exchange (+67 bps m/m) and SIX Swiss Exchange (+51 bps m/m) gained the most pan-European on-venue market share. Euronext Amsterdam (-68 bps m/m) and Nasdaq Copenhagen (-64 bps m/m) lost the most.
  • Among the national exchanges we follow, only the London Stock Exchange (+575 bps m/m, FTSE 250; +193 bps m/m, FTSE 100) and Nasdaq Helsinki (+305 bps m/m, FI 25) gained market share in their home indices (see table, page 7). Nasdaq Stockholm (-246 bps m/m, SE 30), Euronext Lisbon (-98 bps m/m, PSI-20) and Bolsas y Mercados Españoles (-90 bps m/m, IBEX 35) lost the most.
  • Alternative closing-auction market share rose 199 bps, accounting for 7.03% of total end-of-day activity.

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