The TRADE 56 - Page 95

[ D ATA ] Based on fragmented European stocks 12 2000 11 1800 1600 10 1400 9 1200 8 1000 7 800 600 6 400 200 4 0 n-1 5 p 02 5 SPREADS & EBBO LIQUIDITY Market spreads widened in Q2 2018, reversing the previous trend, and there was a correspond- ing decrease in liquidity. Spread (BPS) Avg 10BPS Liquidity (€ ‘000) Q1 2018 4.36 €1,079.49 Q2 2018 4.53 €885.52 Change +0.17 -€192.51 EUROPEAN MARKET BREAKDOWN The market share picture was varied during the quarter with primary markets for FTSE, DAX and MIB increasing, with a significant increase on IBEX, whilst primary market share decreased on CAC, SMI and OMX-S. BATS increased on FTSE, CAC and OMX-S, with small changes on other markets. Major European Indices Chi-X had a large increase on SMI and OMX-S but a significant reduction on IBEX. Along with the other MTFs, Turquoise had decreases on all markets. Aquis’ market share remained fairly stable across all markets. Q2 2018 (change on Q1 2018) FTSE CAC DAX SMI MIB OMX-S IBEX Primary 1 65.17% 0.97% 1 64.31% -0.99% 1 69.43% 1.25% 1 70.68% -0.50% 1 71.78% 1.70% 1 65.12% -1.12% 1 76.59% 5.69% CHIX 2 16.62% -0.54% 2 15.91% 0.55% 2 16.60% 0.47% 2 11.22% 1.70% 2 14.59% 0.07% 2 16.52% 1.65% 2 12.07% -3.06% 6.77% 0.50% 5.87% -0.42% 3 9.04% 0.11% 3 6.42% -0.97% 3 10.32% 1.05% 6.43% -1.34% 6.01% -0.92% 5.41% -0.20% 6.43% -1.20% 1.67% 0.04% 3.05% -0.39% 1.80% -0.60% 1.60% -0.39% BATE TRQX AQXE 3 7.95% 1.42% 8.57% -1.85% 1.69% -0.01% 3 10.90% -0.52% 2.11% 0.47% 3 3 5.20% -1.60% 5.35% -1.16% 0.80% 0.13% Issue 56 // TheTradeNews.com // 95