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Let There Be Light - European Edition

Let There Be Light - European Edition
  • The 42 alternative venues we track executed a record high 19.79% of pan-European on-venue turnover in July, up 80 bps m/m (+215 bps y/y) from June
  • Dark MTFs (+62 bps m/m) and periodic auctions (+18 bps m/m) gained market share last month vs. June; ELP SIs were flat
  • Periodic auctions captured a record-high 4.98% of on-venue turnover
  • Together, the venues in our universe executed €6.99 billion per day, down 5.05% m/m (-8.85% y/y). Total on-venue (including displayed) trading fell 8.88% m/m (-18.75% y/y) to €35.31 billion a day. Our universe accounted for 12.80% of consolidated turnover, including on-venue and OTC, up 132 bps m/m
  • Jane Street’s Equity SI’s ADVT posted a second consecutive big m/m increase
  • The MiFID review pauses while the European Parliament is on holiday

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