[ D ATA ]
Spreads tighten as
volatility drops
European markets have seen flow drifting away from MTFs as spreads get tighter
and volatility continues its downward path.
T
his quarter’s statistics from LiquidMetrix reveal
some insights on the final months of pre-MiFID II
markets. They show that multilateral trading facili-
ties (MTFs) are losing some of their market share to
90
Based on fragmented European stocks
MTF
Market Share (%) Market Value Traded
(€billion/day)
Q2 2017 30.32% €36.71bn
Q3 2017 29.15% €31.87bn
Change -1.17% €-4.84bn
There was again a sharp drop in MTF market share
similar to that of Q1 2017 figures and again a signif-
icant drop in market value traded in Q3 dropping by
a similar percentage range (between 15-20%), as in
the previous quarter.
160 38
140 36
120 34
32
100
30
80
28
60
26
40 24
20 22
0 20
TheTrade
Autumn 2017
MARKET SHARE
the exchanges. It also shows that spreads are at their
tightest since these statistics began in 2012 as a result
of low volatility across Europe.