The TRADE 54 | Page 78

[ D ATA ] Fragmentation in Europe LiquidMetrix analyses consolidated performance figures for stocks on major European indices and the changes from the previous quarter. T he charts and figures below are based upon Liq- uidMetrix’s unique benchmarking methodology that provides accurate measurements of trends in 78 Based on fragmented European stocks MTF Market Share (%) Market Value Traded (€billion/day) Q3 2017 29.15% €31.87bn Q4 2017 26.89% €40.75bn Change -2.25% €8.88bn There was again a drop in MTF market share, but a significant increase in Market value traded in Q4 increasing by €8.88bn compared with the previous quarter. 160 38 140 36 120 34 32 100 30 80 28 60 26 40 24 20 22 0 20 TheTrade Winter 2017 MARKET SHARE market movements. Trading volumes on lit malkets including auctions are taken into account, as well as dark trading on the major MTFs.