The TRADE 59 - Q1 2019 | 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
15
ul- 1
-O
02
5
SPREADS & EBBO LIQUIDITY
There is an overll trend of market spreads wid-
ening over the last 12 months. Although they
have stablised over the Q4 2018 to Q1 2019 pe-
riod, the downward trend in liquidity continued
into the beginning of 2019.
Spread
(BPS) Avg 10BPS Liquidity (€ ‘000)
Q2 2018 4.53 €885.52
Q3 2018 4.64 €829.66
Q4 2018 5.39 €755.98
Q1 2019 5.39 €732.47
EUROPEAN MARKET BREAKDOWN
The market share picture changed from the previous
quarter with small increases on all primary venues.
There were reductions across most markets for
Chi-x and Bats, apart from OMX-S where Chi-x had a
0.81% gain.
Major European Indices
Turquoise had decreases on CAC, DAX,SMI OMX-S
and IBEX, but slight increase on FTSE. Aquis gained
market share on most markets, apart from SMI.
Q1 2019 (change on Q4 2018)
FTSE
CAC
DAX
SMI
MIB
OMX-S
IBEX
Primary 1 63.99% 1.18% 1 66.58% 0.88% 1 69.19% 0.88% 1 69.65% 1.07% 1 72.25% 2.23% 1 61.15% 0.41% 1 70.08% 1.78%
CHIX 2 17.35% -0.82% 2 17.11% -0.19% 2 16.67% -0.45% 2 12.91% -0.05% 2 13.42% -2.04% 2 20.77% 0.81% 2 14.67% -1.17%
6.89% -0.79% 5.82% -0.45% 3 5.52% -0.42% 3 7.44% -0.61% 3 6.56% -0.59% 3 8.02% -1.33% 8.52% 0.20% 7.39% -0.66% 5.49% -0.38% 5.80% -0.32% 4.11% 0.00% 6.03% -0.62% 3.26% 0.24% 3.09% 0.42% 3.15% 0.39% 4.21% -0.07% 3.65% 0.39% 4.03% 0.72%
BATE
TRQX
AQXE
3
3
3
6.38% -0.40%
6.69% -0.30%
2.18% 0.10%
Issue 59 // TheTradeNews.com // 95