• Deutsche Börse, BME and the Vienna Stock Exchange all launched dark order books. Europe's stock exchanges have set up 10 dark pools this year, yet activity has been sluggish.
• Trajectory-crossing venues, such as Aquis VWAP Match, which goes live in the first quarter, may hold more appeal for Europe's equity traders during a period of prolonged low volatility.
• Euronext announces that Italian equities will migrate to its clearinghouse at the end of June, more than 18 months after stocks listed on its six other exchanges made the move.
• ESMA says EU securities will settle at T+1 from October 11, 2027. The regulator's decision will put pressure on the UK to make the switch on the same date.
• Everyone wants to have their say on whether or how to give more power to ESMA. Yet Poland, which takes over the presidency of the EU Council in January, doesn't even acknowledge that centralising oversight of trading venues is an option.
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