- Average daily value traded increased 5.10% m/m (-13.66% y/y) to €60.66 billion, as volatility, measured by the VSTOXX average daily close, dropped 25.05% m/m (-30.05% y/y) to 15.16.
- Year-to-date ADVT is 16.01% lower than full-year 2022 and 17.42% lower than 2022 YTD as European secondary markets remained becalmed.
- Bank SIs (+304 bps m/m) and closing auctions (+155 bps m/m) gained market share, while lit trading (-299 bps m/m), dark MTFs (-97 bps m/m), OTC trading (-23 bps m/m), periodic auctions (-15 bps m/m), ELP SIs (-15 bps m/m) and opening auctions (-10 bps m/m) lost ground.
- Deutsche Börse (+106 bps m/m) gained the most on-venue market share among European trading venues; Euronext Paris (-69 bps m/m) lost the most.
- Among the national listing exchanges we track, all gained market share in their home indices, with SIX Swiss Exchange (+396 bps m/m, CH 20), Nasdaq Helsinki (+393 bps m/m, FI 25) and Euronext Amsterdam (+342 bps m/m, NL 25) leading the way.
- Alternative closing-auction market share fell 82 bps m/m, accounting for 5.98% of total on-venue end-of-day activity.
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