March 2019- From LSEG to the Buyside

Highlights

    • Turquoise Global Holdings Europe B.V. approval in Amsterdam
    • London Stock Exchange Midpoint Pegged Orders executable at all midpoint prices, functional change effective Monday 11 March 2019
    • RFQ on Borsa Italiana ETFplus record: €1.4bn monthly value traded
    • MTS sees record trading across platforms in February 2019


    Turquoise Plato™ Working Group - London, March 6th 2019

    • Brexit contingency update: Turquoise Global Holdings Europe B.V. has received regulatory approval from Autoriteit Financiële Markten (AFM) to operate a Multilateral Trading Facility (MTF) in The Netherlands
    • Thanks to our global buyside and sellside customers, Turquoise Plato™ has recorded tremendous growth increase in Average Daily Turnover since 2013 (+477%)
    • Total absolute amount of midpoint value traded is more than €800bn single counted, thank you to our customers

    Turquoise Plato™ Average Daily Turnover (2013 - 2019*)


    * 2019 figures include January and February 2019

    Turquoise Plato™

    • €17.9bn Turquoise Plato™ monthly value traded in February 2019
    • €8.2bn monthly value traded on Turquoise Plato Block Discovery™
      • €331,548 average trade size for all trades in February
      • €1.3m average trade size for MiFID II ESMA Band 8 and 9 blue chips above LIS
      • €12.8m max trade size in February

    Turquoise Plato Block Discovery™ - Top 10 Trades (monthly)


    Turquoise Plato Lit Auctions™ for all trade sizes

    • €10.2m Max Trade Size (August 2018)
    • Active with trades above €500,000 in 15 countries
    • Active in symbols of 17 countries, 17% above €100,000 and 6% above Large In Scale (LIS)
    • €757.8m monthly value traded in Turquoise Plato Lit Auctions™ in February 2019 (+29% versus January 2019)
      • €0.01m or €9,430 Average Trade Size in February 2019
    • 99%+ multilateral: only 0.02% of total activity occurred with the same counterparty on both sides, both orders received within 100ms and same order sizes on both the buy and the sell

    London Stock Exchange

    • London Stock Exchange Market Share of UK Lit trading activity was 68.7% (monthly)
    • £91.9bn London Stock Exchange total order book value traded in February
      • 32.9% was traded during Closing Auctions
      • ADVT on London Stock Exchange Order Book was £4.59bn (monthly)
    • £9.7m Average Daily Value Traded in Closing Price Crossing (CPX) Session
      • £36,179 Average Trade Size

    FTSE100 Daily Turnover and Index Values


    London Stock Exchange Mid-Point Pegged Orders

    • Matching logic update for Large In Scale Mid-Price Pegged Orders: from Monday 11 March 2019, pegged orders will revert to the functional behaviour in place prior to 28 January 2019 so as to be executable at all mid-point prices
    • £374.4m monthly value traded via London Stock Exchange mid-point pegged orders in February 2019

    Borsa Italiana

    Borsa Italiana MTA - Most Traded Stocks (monthly)


    ETPs - London Stock Exchange

    • £7.4bn (292k trades) monthly order book value traded for ETPs in February 2019
    • £15.9bn (615k trades) YTD order book value traded for ETPs in 2019.
    • On 26 February 2019 iShares Physical Gold ETC (IGLN) was the heaviest traded product across ETP order book, with £171m value traded

    ETPs Borsa Italiana

    • From 4 March 2019, the Opening Auction has been introduced on ETFplus
      • Further details can be found here
    • ETFplus AUM reached €71.9bn, and €9.4bn monthly turnover in February 2019

    Borsa Italiana ETFplus - Most Traded ETPs (monthly)


    RFQ on Borsa Italiana ETFplus

    • Monthly record: €1,406m monthly value traded via Borsa Italiana ETFplus RFQ
      • €4.39m average trade size
      • €53.74m max trade size
    • Monthly record: 320 trades with RFQ functionality, up from previous record of 228 trades in January 2019

    Borsa Italiana ETFplus RFQ - Monthly Turnover and Number of Trades


    MTS

    • Monthly record: February was a record trading month across MTS platforms, with average daily nominal volume hitting €144bn
    • Daily record: 12 February 2019 also set a record for the biggest single trading day, with total nominal volume of €162bn
Conferences & Events

LSEG Annual Investment Funds Conference
20 March, London

Rosenblatt European Market Structure Conference
26 March, London

TradeTech Europe Conference
24-25 April, Paris

Did you know that...

On 13th February Borsa Italiana’s IDEM market took part in the 3rdFOW Derivatives Israel. Organized by Global Investor Group, it is the largest derivatives conference in the region, which brings together leading experts in the sector in Israel and Europe.
Massimo Giorgini, Head of Equity and Derivatives Markets Business Development, gave a Ted Talk on liquidity and diversification during the conference.