- Periodic auctions overtake dark pools for the first time in Europe, a decade after BATS (now part of Cboe) launched the first periodic auction.
- The European Securities & Markets Authority almost doubled the number of stocks that dark pools are prohibited from trading. Dark venues lost market share last month.
- Periodic auctions executed twice as much volume in October than in the year-earlier period.
- Systematic internalisers run by electronic liquidity providers also gained market share as XTX SI's entities in Paris and London increased their average daily value traded by more than 45%.
- Dark pools increased their large-in-scale executions by 11.90%, more than the gain in overall on-venue trading. Is the market bifurcating with small orders going to periodic auctions and big ones staying in the dark?
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