As we wrap up our 12 Days of Trading series this year. We want to extend a huge thank you for your support during the year and hope you’ve enjoyed our festive frolic though laptopland.
Due to popular demand the 12 Days of Trading would not be complete without our Christmas venue visualisation tree. We have dusted down the evergreen branches to see whether the exchanges and MTFs have grown together year on year.
Just like a lone pine in the forest, the impact of the changing environment and behaviours are clear fir all to see and some have spruced themselves up better than others.
2025 was a better year for the industry with 30% higher volumes YoY, i.e. nearly all venues are up from last year. A sharp focus through a quality lens is required to spot which venues or mechanisms gained market share and more broadly, how did market structure change during the many events in 2025?
No need to remind you where to find the tools to help…
We are extremely grateful for the efforts of our team who, inspired by the trading community, continue to find new themes in Global as well as European market structure. Our clients tell us that we are playing a growing role in improving trading performance not just through independent historical analysis but increasingly, through pre trade and intra day decision support.
Whether it’s Equities, ETFs or listed derivatives, keep the feedback coming...we love a challenge. Stay tuned for more content in 2026 and Happy Holidays all.