European Equities LiquidityMatrix January 2018

With the introduction of MiFID II on January 3rd 2018, it was a case of ‘everything changed, but nothing changed’ for Europe’s equity market. At a high-level, the proportion of trading taking place through auctions, lit markets, dark venues and off-exchange throughout January 2018 was the same as pre-Mifid II levels. Delve a little deeper, however, and there were some standout trends, including significant increases in activity on block venues and periodic auction books. Every month, TABB Group’s European Equities LiquidityMatrix™ provides the industry with breakdowns of market share for each major equity execution channel, including lit venues, dark MTFs, block venues, periodic auction books and systematic internalisers.