The London Stock Exchange Group (LSEG) overtook BATS Chi-X Europe as the largest equity trading venue operator in Europe last month, according to Thomson Reuters Equity Market Share Report.
On a venue group basis, the LSEG – which operates both the London Stock Exchange and Borsa Italia – accounted for 20.3% of all equity trading in Europe in May (€160 billion turnover) compared with BATS Chi-X Europe at 19.8% (€156 billion turnover).
In April, BATS Chi-X Europe, which runs two lit and two dark order books, achieved a market share of 20.5%, compared with the LSEG’s 19.8%. BATS Chi-X Europe has been regulated as a recognised investment exchange since May 2013 and is a unit of US-owned BATS Global Markets.
The four national exchanges operated by NYSE Euronext, due to be floated by owner InterContinental Exchange before the end of the year, jointly accrued a market share of 15.2%, followed by Deutsche Boerse with 11.3% and Turquoise, the multilateral trading facility (MTF) owned by LSEG, with 9.9%.Thomson Reuters Equity Market Share Report records all trading on the lit and dark books of regulated exchanges and MTFs in Europe.
Equity trading volumes slipped for the second consecutive month in Europe overall, falling to €790 billion in May from total turnover of €816.4 billion.
Both April and May include fewer trading days than the months of the first quarter in most markets across Europe. The general volume trend for European equity trading in 2014 would appear to remain higher than last year. In April and May 2013, total trading in European equities was worth only €745 billion and €750 billion respectively.
In MTF dark trading, BATS Chi-X Europe’s two dark books accounted for 29.88% of trading, while UBS achieved a market share of 19.63%, reversing recent trends.