Nordic exchange Burgundy has reported that some 64% of trading in Swedish equities was transacted away from domestic exchange Nasdaq OMX Nordic in April, an increase of 14 percentage points compared with March.
According to figures published by Burgundy in cooperation with Thomson Reuters, incumbent exchange group Nasdaq OMX Nordic accounted for 35.95% of trading in Swedish stocks in April, worth €29 billion, compared to 50.31% (€37.8 billion) in March.
Markit BOAT, a reporting facility for OTC trades, saw 35.22% of Swedish equity trading reported to it in April, compared to 22.55% in March, representing a considerable shift of volume to the OTC market.
A further €8.96 billion of trades were reported to the London Stock Exchange (LSE), representing 11% of Swedish equity trades – a dramatic increase on the 0.66%, or €398 million reported to the LSE as recently as February, which had climbed to 5.97% and €4.49 billion in March.
Burgundy reported its market share in Swedish equities continued to decline, reaching 3.44% in April on a turnover of SEK27 billion (€3.01 billion), down from SEK 29 billion (€3.23 billion) 3.73% in March and 4.32% in February. Burgundy launched as a multilateral trading facility two years ago, but has recently received regulatory approval to be classified as an exchange – a move that will enable it to list a wider range of instruments, potentially increasing its market share.