UBS tops dark MTF trading
The dark multilateral trading facility (MTF) operated by
Swiss bank UBS was the largest in Europe last month, grabbing almost a quarter
of the region’s dark trading, according to data from Thomson Reuters.
UBS MTF accounted for 24.5% of European dark MTF trading,
overtaking the CXE dark book – the new name for Chi-X Europe’s former dark pool
Chi-Delta following its takeover by BATS Global Markets – which had held the
top position for the first five months of the year.
The CXE dark pool traded 20.1% of dark MTF volumes, down
from 21.3% in May. Goldman Sachs’ Sigma X MTF was third with 12.9%, followed by
ITG’s POSIT crossing network, which traded 10.9% of volumes.
London Stock Exchange-owned Turquoise, which made a series
of enhancements to its dark pool in mid-June, gained 0.6% market share,
accounting for an overall share of 7.7%.
Dark MTF volumes reached their lowest point so far this
year, with €25.5 billion traded in June compared to €27.7 billion in May. By
comparison, trading in broker crossing networks totalled €27.9 billion in June,
up from €24.4 billion in May, according to the Thomson Reuters data.
Combined, BCNs and dark MTFs represented 7.43% of total volume.
Trading across all European exchanges and MTFs slumped to a
year-low of €691.5 billion in June, down from €738.6 billion in May.