[ D ATA ]
Based on fragmented European stocks
12 2000
11 1800
1600
10
1400
9
1200
1000
8
800
7
600
6
SPREADS & EBBO LIQUIDITY
400
200
4 0
-1
5
c
02 t
-
02
5
Market spreads widened again in Q3 2018,
reversing the previous trend, and there was a
corresponding decrease in liquidity.
Spread
(BPS) Avg 10BPS Liquidity (€ ‘000)
Q2 2018 4.53 €885.52
Q3 2018 4.64 €829.66
Change +0.11 -€55.85
EUROPEAN MARKET BREAKDOWN
The market share picture changed from previous
quarter with small increases on the primary markets
for FTSE and CAC and significant decreases on all
other primaries.
The main beneficiary of MTF market share gain was
Major European Indices
Chi-x, with nearly 3.5% gain on IBEX.
Turquoise had decreases on FTSE and CAC. BATS
also had a a very small reduction also on CAC, but a
larger decrease on SMI.
Q3 2018 (change on Q2 2018)
FTSE
CAC
DAX
SMI
MIB
OMX-S
IBEX
Primary 1 65.80% 0.63% 1 64.77% 0.46% 1 67.86% -1.57% 1 69.41% -1.27% 1 69.46% -2.32% 1 61.66% -3.46% 1 70.26% -6.33%
CHIX 2 16.20% -0.42% 2 16.33% 0.42% 2 17.07% 0.47% 2 12.41% 1.19% 2 15.31% 0.72% 2 18.82% 2.30% 2 15.55% 3.48%
BATE 3 8.47% 0.52% 6.09% 0.22% 3 8.16% -0.88% 3 7.34% 0.92% 3 10.85% 0.53% TRQX 7.26% -1.31% 6.74% 0.31% 6.37% 0.36% 5.53% 0.12% 6.50% 0.07% AQXE 2.26% 0.57% 2.24% 0.57% 3.65% 0.60% 2.32% 0.52% 2.18% 0.58%
3
6.76% -0.01%
9.95% -0.95%
2.18% 0.07%
3
3
6.42% 1.22%
6.61% 1.26%
1.15% 0.35%
Issue 57 // TheTradeNews.com // 79