September 22, 2026
- Systematic internalisers run by electronic liquidity providers accounted for a record 6.38% of on-venue activity in August…
- …but their share of total equity trading declined because of a spike in over-the-counter transactions during the most popular holiday month for Europeans.
- Hudson River Trading and Citadel Connect Europe, the two biggest ELP SIs, were responsible for more than half the trades executed by market maker-owned SIs.
- Average daily value traded by dark and periodic-auction books dropped 20.38% and 19.89% month-on-month.
- Cboe Periodic Auctions, Europe’s largest alternative trading venue, dragged down frequent batch auctions as a category.
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