Let There Be Light: European Edition

• Dark pools had higher average daily value traded than periodic auctions in June. Reference-price-waiver books last had a clear lead over frequent batch auctions in September.
• Periodic auctions lost market share last month as ADVT on Cboe's venue declined.
• Aquis Auction on Demand, Sigma X Auction Book and Turquoise Periodic Auctions all did more business than in May.
• Systematic internalisers run by electronic liquidity providers were the only type of alternative venue to gain market share in June.
• Tower Europe SI and Virtu SI posted bigger increases in activity than their four larger rivals.
• Hudson River Trading SI and Citadel Connect Europe retained the first and second spots, respectively.

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