Let There Be Light - European Edition

• Dark MTFs, periodic-auction venues and systematic internalisers run by electronic liquidity providers all lost market share in August
• Alternative venues as a group accounted for 18.42% of on-venue trading, a 137-bp decline from July when they set a post-MiFID II record
• The 42 venues we track executed  €5.88 billion to trades a day in August, a 15.81% m/m drop
• SIs operated by banks were the beneficiaries, while the market share of lit continuous markets remained near a record low
• The European Parliament and the Council of the EU hold a meeting on September 28 that could lead to a final agreement on the review of MiFID

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