12 Days of Trading – Day 1 of 12: Liquidity Trends since June 2016

As the year draws to a close we have been asked by clients to look and highlight 2018 trends since the introduction of MiFID II. We thought we might make this a festive exercise on the 12 days leading up to the holidays. As a result, you will receive a link to a different 2018 big-xyt observation each day.

With the countdown to the holidays underway, here’s our festive first (of twelve) post MiFID II, pre Brexit reviews of European Equity Markets.

We hope you enjoy them.

Day 1 of 12: How has European Equity Liquidity fragmented when faced with new trading mechanisms over the last 2.5 years?

Some observations:

• Lit Market Share has seen continuous declines.
• Dark trading was impacted by DVCs.
• Auctions have seen continuous growth over the past years.
• SIs had a jump start with MiFID II. There is still uncertainty around how much of the SI volumes is addressable. The views of the trading community suggest that less than 10% might be relevant.

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This content has been created using the Liquidity Cockpit API.

About the Liquidity Cockpit

At big-xyt we take great pride in providing solutions to the complex challenges of data analysis. Navigating in fragmented markets remains a challenge for all participants. We recognise that the investing community needs and expects continued innovation as the volume of data and related complexity continues to increase.

Our Liquidity Cockpit is now recognised as an essential independent tool for exchanges, Sell-side and increasingly Buy side market participants. Data quality is a key component, as is a robust process for normalisation so that like-for-like comparisons and trends over time have relevance. However, our clients most value a choice of flexible delivery methods which can be via interactive dashboard or direct access to underlying data and analysis through CSV, API or other appropriate mechanism.

For existing clients – you will see the new functionality across various dashboards when you next log in to the Liquidity Cockpit.

For everyone else – if you would like a trial of the Liquidity Cockpit, please use this link to register your interest.