May 2020- From LSEG to the Buyside
LSEG Highlights
- Turquoise CEO speaks to The Trade Magazine highlighting the evolution from trading at midpoint in small-sizes, to executing electronic block trades at midpoint
- RFQ 2.0 functionality for ETPs has received FCA approval – Video
- London Stock Exchange hosted a webinar discussing the Investment Funds Market for closed-ended funds – Video
- Borsa Italiana continues to organize Digital Roadshows and Conferences, bringing together listed companies and international investors
The trading behaviour has evolved
- Robert Barnes (Turquoise CEO and Global Head of Primary Markets, LSEG) interview at THE TRADE: “during these times when the markets are becoming volatile, prices are moving a lot, and bid-offer spreads are widening, it has become more straightforward to get business done by trading blocks.”
Liquidity trends during the Q1 volatility
- TraderTV.LIVE interviews Scott Bradley, Head of Business Development, Cash Secondary Markets & Turquoise, LSEG. Watch the recording to stay up-to-date with the European market structure landscape in the context of recent volatility
Turquoise Plato™
- Turquoise Plato Trade At Last™ (TAL) has a planned go-live date for mid July - looking forward to engage with you in the coming weeks
- Turquoise Notice 11 May 2020: MiFID II - MiFIR Volume Cap Mechanism Implementation and Related Turquoise Reference Price Waiver Suspensions from Wednesday 13 May 2020
London Stock Exchange
- London Stock Exchange Market Share of UK Lit trading was 74.2% in April 2020
- £105.4bn London Stock Exchange total order book value traded in the month
- £31.0bn traded during Closing Auctions, representing 29% of total order book
- £6.2m ADVT in Closing Price Crossing (CPX) Session
London Stock Exchange International Order Book (IOB)
- $6.7bn traded in April 2020 (-47% MoM and +15% YoY), with $333m ADVT and Russian DRs trading up 10.6% YoY
- IOB and Turquoise were #1 lit and dark markets for GDRs, respectively
London Stock Exchange ETPs and RFQ 2.0
- Following the FCA's approval we expect to launch London Stock Exchange’s RFQ 2.0 in H2 2020
- RFQ 2.0 will offer auto-complete RFQ functionality with an innovative order book sweep and CCP clearing built in, all under one exchange.
- For further details please watch RFQ 2.0 Video and read Service Description
London Stock Exchange Investment Funds Market
- 450+ closed-ended investment funds are listed in London, with $200bn in market capitalisation and 80+ subsectors – including alternatives such as renewables, royalties, property and infrastructure
- Watch the Investment Funds Update live-streamed in April 2020 and find out more on our website
Borsa Italiana
- Borsa Italiana market share of Italian Lit trading activity was 88.7%
- €2.6bn Borsa Italiana ADVT in April 2020
Borsa Italiana IDEM - Derivatives
- Trading before 9:00am and after 5:50pm CET now represents 7% of daily volumes on FTSE MIB futures and 13% of FTSE MIB mini-futures
Borsa Italiana ETFplus
- €84.85bn ETFplus total AUM (+13.16% vs April 2019)
- €11.4bn monthly turnover for ETFplus in April 2020
- of which €860m via Borsa Italiana RFQ
Borsa Italiana RFQ - number of trades and turnover (Dec 2016 - Apr 2020)
Borsa Italiana Digital Roadshows
- AIM Italia Conference 2020 (25 May) and STAR Conference Milan 2020 (26-27 May) will be fully digital for the first time
- Borsa Italiana Digital Equity Roadshow Asia & Australia 2020 allows Asian and Australian investors to e-meet with the top management of 12 mid and large cap Italian listed companies, and takes place from 12 May to 15 June
Did you know that...
The 'Covid-19 Social Response Bond' social bond will be issued by Cassa Depositi e Prestiti, with €1bn to be raised in two tranches and listed on Borsa Italiana’s ExtraMOT PRO, in order to support businesses and public administrations affected by the pandemic