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12 Days of Trading 2022 Day 12: Rockin’ around the big xy Tree – Merry Christmas and Happy Holidays to all

27 August 2025
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12 Days of Trading 2022
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With his circumnavigation complete, Father Christmas has earned some rest and recuperation, as have all of you after a year of challenges and surprises.

Looking back over the last five years of this campaign, we thought it would be fun and perhaps of interest to reintroduce an old favourite – the big xy Tree.

The updated venue tree shows that whilst much around the high level mechanics has stayed broadly consistent since MiFID II, you can see here that the market share across venues has been changing.  In this illustration, the volumes shown are lit on-book activity.

Share of volume across venues and trade categories keeps market structure experts relishing the next day’s data deluge, and that includes our team, who have spent years collecting, creating and delivering results in the form of a consolidated view of the markets. They also maintain the back history so that trends can be easily identified across any of the metrics.

We hope you have enjoyed this 12 Days of Trading campaign. We would like to thank all our clients and supporters and wish you all a fun-filled festive season, with a large slice of consolidated cake.

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All the content here has been generated by big xyt’s Liquidity Cockpit dashboards or API.

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