European equity trading values slumped to their lowest level of the year during November, according to the latest market share report from data provider Thomson Reuters.
For the first time in 2008, the total turnover of equity trading in Europe fell below €1trillion, representing a 43% drop from just over €1.7 trillion in October.
Turnover dropped across all trading venues, with multilateral trading facilities Chi-X and Turquoise seeing a 46.3% and 26.6% reduction in the last month respectively. In comparison, exchange group NYSE Euronext suffered a month-on-month decline of 46.1%, while the London Stock Exchange and Deutsche Börse also saw a 38.3% and 55% decrease in turnover respectively.
Volumes also decreased, but did not take as much of a hit. Total volume fell 28.5% since the yearly high of just over 208 million in October, supporting anecdotal evidence that trading was at its most frenetic during this month. Turnover was at its highest in January, when over €2.2 trillion was traded across Europe’s exchanges.