When it comes to seeking liquidity under MiFID II, a survey of senior traders has found that periodic auctions and conditional order types are the most useful.
EU policymakers are looking to extend the tick size regime to SIs, periodic auctions and block trading venues, but the buy-side is concerned about the potential impact this could have on trading at the midpoint.
October was a strong month for block trading activity, with Cboe and LSEG reaching new records on their platforms.
Value traded of block trading in Europe saw record highs last week, led by Liquidnet, ITG POSIT, Cboe LIS and Turquoise Plato.
POSIT Alert conditional orders are already available in Europe, the Middle East and Africa, and the US.
Cboe LIS continues to win over the buy-side with 158 asset managers now using the platform to trade large blocks under MiFID II.
Luminex Trading & Analytics saw record month of activity in May in terms of shares traded and notional value traded.
Cboe says non-broker priority allocations within its periodic auction book has risen to 80%.
Instinet’s European CEO, Richard Parsons, discusses the firm’s liquidity agreements with Virtu and Sun Trading, the debate around SIs and periodic auctions, and potential consolidation on the sell-side over the next few years.
Block trades accounted for a record 51.9% of dark trading last week, according to statistics from Fidessa.