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