European trading volumes fell back in April but have remained relatively stable since the beginning of 2014, with total turnover of €816.4 billion.
Figures from Thomson Reuters Equity Market Share Report show turnover dropped 9.5% from €902.7 billion in March, though April saw less trading days due to the Easter holiday period. Market volumes have been relatively stable during the year so far, fluctuating between €800-900 billion since January and remain well above both 2012 and 2013.
Among individual markets, London Stock Exchange-owned Turquoise continued to see strong growth, posting its third consecutive increase in market share and reaching a new record.
Total trading on the pan-European multilateral trading facility (MTF) reached €82 billion, accounting for 10.05% of European market share across lit and dark books. This is up significantly from a market share of 8.81% in March and puts the MTF just behind Euronext Paris’ 10.09% share.
Last month at TradeTech, Turquoise revealed to theTRADEnews.com that it has experienced its second-highest trading day on 8 April, representing approximately 11% of European market volume on that day. Its CEO, Robert Barnes, attributed its increased volumes to its focus on improving liquidity.
BATS Chi-X Europe saw market share pick up in April increasing to 20.5% of the European total, up from 19.66% in March.
However, the London Stock Exchange saw a second month of falling market share after hitting a high of 13.29% in February. Its market share dipped from 11.98% to 11.09% between March and April.
In MTF dark trading, total European volume remained flat in April at €52 billion. UBS MTF continue to lose market share for the fifth month in a row, dropping to 18.83% of European dark volume, down from 23.29% in December 2013.
Much of the slack was picked up by BATS Chi-X and POSIT, both of which saw modest increases in market share during April.