April 2019- From LSEG to the Buyside

Highlights 

      • Turquoise CEO speaks to TRADE TV at FIX EMEA Conference 2019

      • Indian securities on IOB recorded a 23% MoM growth

      • London Stock Exchange hosted its 1st Debt Capital Markets Forum

      • LSEG ETF markets to introduce Opening Auction developments

      • IDEM listed new Italian stock options with 3-5 years maturities


    FIX EMEA Trading Conference 2019

      • Dr Robert Barnes, Global Head of Primary Markets & CEO Turquoise, London Stock Exchange Group talks to TRADE TV at this year’s FIX EMEA Trading Conference about the post-MiFID II landscape - Video



    Turquoise Plato™

      • €180.8bn value matched on Turquoise Plato Block Discovery™ since its 2014 launch to end March 2019, of which €176.8bn or 98% traded since Plato Partnership announcement in September 2016

        • €301,723 average trade size for all trades in March

        • €1.2m average trade size for MiFID II ESMA Band 8 and 9 blue chips above LIS

        • €16.9m max trade size in March (+31% vs February)

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


    * 2019 figures until March 2019

    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)

      • 99%+ multilateral in March 2019: only 0.03% 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

      • £101.6bn London Stock Exchange total order book value traded in March 2019

        • 35.4% was traded during Closing Auctions

        • ADVT on London Stock Exchange Order Book was £4.84bn (monthly)

      • £9.97m Average Daily Value Traded in Closing Price Crossing (CPX) Session

        • £38,667 Average Trade Size

    FTSE100 Daily Turnover and Index Values


    London Stock Exchange Mid-Point Pegged Orders

      • £701.1m monthly value traded via London Stock Exchange mid-point pegged orders in March 2019 (+88% vs February)

    London Stock Exchange International Order Book (IOB)

      • $6,157m monthly on-book turnover in March 2019, up 23% MoM

        • $293.2m monthly ADTV

        • 18.5% of turnover was executed during auctions in March 2019

      • Indian securities have the best YoY performance in Q1 2019, with 14% growth compared to 2018 Q1, and 4 Indian securities are in the top 25 traded securities list of 2019 Q1

    Borsa Italiana

      • ADVT on Borsa Italiana Order Books was €2.39bn in March 2019

      • AIM Italia gradually removing minimum lot size starting from 15 April 2019 - See Market Notice

    Borsa Italiana MTA - Most Traded Stocks in March 2019


    ETPs - London Stock Exchange

      • £8.0bn (313k trades) monthly order book value traded for ETPs in March 2019

      • £24bn (927k trades) YTD order book value traded for ETPs in 2019.

    ETPs Borsa Italiana

        • Further details can be found here

        • €30.2m turnover with 4,820 opening auction trades since inception

      • ETFplus AUM reached €73.7bn, and €8.9bn monthly turnover in March 2019

      • ATFund AUM reached €364.9m in March 2019

    Borsa Italiana ETFplus - Most Traded ETPs (monthly)


    RFQ on Borsa Italiana ETFplus

      • €752m monthly value traded via Borsa Italiana ETFplus RFQ in March 2019

        • €2.6m average trade size (monthly)

        • €34.3m max trade size (monthly)

      • €2.9bn value traded with Borsa Italiana RFQ functionality in 2019 YTD

        • €3.5m average trade size (YTD)

    Borsa Italiana ETFplus RFQ - Monthly Turnover and Number of Trades


    Fixed Income London Stock Exchange

      • Q1 2019 was a record quarter for London Stock Exchange's International Securities Market (ISM) MTF, with over £5.2 billion raised

      • London Stock Exchange’s inaugural Debt Capital Markets Forum was held in March, attended by over 150 attendees, including issuers, advisors and investors - See here for a summary.


    Investment Funds London Stock Exchange

      • London Stock Exchange hosted over 200 advisors, investors and fund managers at its 10th annual Investment Fund Conference to discuss the latest trends in the listed investment funds sector

      • A digital hub to increase awareness of London listed funds has been launched, focusing on introducing the sector to the buyside community outside Europe and US - Contact our Funds team for more information here.

    IDEM - Italian Derivatives Market

      • As of 18 March 2019, stock options with American style and physical delivery with six-month maturities up to 5 years are available for trading on: Banco BPM, Bper Banca, Enel, ENI, Ferrari, Fiat Chrysler Automobiles, Generali, Intesa Sanpaolo, Leonardo, Mediobanca, Telecom Italia, Unicredit, Unipol

      • Similarly, six-month maturities up to 3 years became available for: A2A, Atlantia, Banca Generali, Pirelli & C, Poste Italiane, Salvatore Ferragamo, Saipem, Snam, Tenaris, Ubi Banca

    Bilateral Negotiated Transactions on IDEM are allowed with a trading tick of 1 for different FTSE MIB derivatives contracts

Conferences & Events

TradeTech Europe Conference
24-25 April - Paris

LSEG Buyside Roadshow in Scotland
9 May - Edinburgh

Did you know that...

ELITE, in conjunction with Banca Mediolanum, welcomes 21 new Italian companies to its ecosystem. The new joiners expand ELITE international community to over 1,100 firms from across 40 countries and 36 sectors.