ITG sees dark pool trading record post-Brexit

ITG reports mass trading volumes across its dark pool order book in June following Brexit, which it says is the highest monthly level ever.

ITG’s dark pool order book turnover skyrocketed on 24 June, following the UK’s decision to leave the European Union.

Total dark pool order book trades carried out across European venues reached $100 billion in June, which is its highest monthly level ever.

ITG said the surprise referendum result to leave the European Union, “resulted in a day of extreme volatility in global markets.”

On 24 June, ITG’s dark pool ‘POSIT’ experienced a sharp increase in trading activity, leading to its clients crossing a daily record of over $1 billion in European equities.

ITG said: “POSIT proved to be a deep source of liquidity in difficult trading conditions.”

ITG isn’t the first to report huge increases in trading activity immediately after the referendum.

The London Stock Exchange reported a 38.8% increase in the number of trades executed in June, compared to last year.

Almost 26 million trades were executed at the LSE in the UK last month, compared to just 18 million in June 2015.

Trading volumes on Germany’s major exchanges also increased in June.

Deutsche Boerse figures for the month showed a total of 23.6 million trades were executed on its Xetra platform in June, up from 22 million last year.