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™

  • Turquoise Broker Access Document: a reviewed list of member firms offering access to Turquoise Plato Block Discovery™ and Turquoise Plato Lit Auctions™
  • €17.7bn Turquoise Plato™ monthly value traded in March 2019
  • €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)
  • €681.4m monthly value traded in Turquoise Plato Lit Auctions™ in March 2019
  • 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

  • London Stock Exchange Market Share of UK Lit trading activity was 70.5% (monthly)
  • £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

  • Matching logic update for Large In Scale Mid-Price Pegged Orders: pegged orders executable at all mid-point prices
  • £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

  • Borsa Italiana share of Italian lit markets in March 2019 was 79.9%
  • 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.
  • Opening Auction Price Monitoring Extension Changes: Full notice here

  ETPs Borsa Italiana

  • From 4 March 2019, the Opening Auction has been introduced on ETFplus
  • 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
  • Saudi Aramco listed its debut Global Medium Term Note Programme on London Stock Exchange
  • 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