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Let There Be Light: European Edition

Let There Be Light: European Edition
  • Periodic auctions set a record for a second consecutive month and dark pools neared their all-time high as volatility remained modest, boosting the appeal of patient trading.
  • Cboe's periodic-auction books in Amsterdam and London accounted for more than 85% of activity in the category, their highest share in six years.
  • A record share of trading in German and Swedish benchmark equities took place on dark venues, while UK midcap stocks set a record for any index in the MiFID II era.
  • Deutsche Börse's planned midpoint order book was delayed, while SIX Group is still aiming for a December 9th launch for its SpainAtMid dark order book.
  • Systematic internalisers run by electronic liquidity providers lost market share as a group. Jane Street and Hudson River Trading narrowed the lead of XTX and Citadel Securities.

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