August 2020- From LSEG to the Buyside

LSEG Highlights

• • Exchanging Ideas with Dan Nicholls, Head of Trading at Federated Hermes
  • Sustainable Finance: eight further companies received London Stock Exchange’s Green Economy Mark
  • Turquoise reintroduces the GFA (Good For Auction) order type on 13 July within the Turquoise Plato Lit Auction book
  • AIM Italia launched the Professional Segment designed for gradual access to markets, start-ups and scale-ups, Just Listing operations and offering structure

  Exchanging Ideas Video

  • In the latest edition of Exchanging Ideas, we welcome Dan Nicholls, Head of Trading at Federated Hermes to LSEG's virtual studios.
  • We discussed innovations in European market structure, the resiliency of our industry during volatile markets and how ESG criteria are shaping the investment decisions of asset allocators.
    Link to the video 

  

    
    
  Sustainable Finance

  • Eight further companies have received London Stock Exchange’s Green Economy Mark, the accreditation given to London-listed companies with over 50% of their revenues derived from green products or services
  • A total of 86 companies now have the mark, which was initially launched in October 2019
  • Borsa Italiana held the Digital Italian Sustainability Week bringing together 49 listed companies and 180 investors (here some video-interviews) and launched the Capital Markets Sustainable Finance Partnership
  • Over 120 securities for sustainable development are now listed on Borsa Italiana following Generali Group's new €600 million green bond on ExtraMOT PRO

  Turquoise Plato™

  • Turquoise Plato Lit Auctions™ re-introduction of Good For Auction (GFA) Time-in-Force
  • When entered into the book, it will trigger an auction if there is contra resting liquidity; if no contra-liquidity is present, it will immediately be cancelled back to the user
  • This increased efficiency in routing, effectively acting like an immediate-or-cancel order, allow brokers to now appropriately consider this liquidity channel into opportunistic and more aggressive routing behaviors.

  London Stock Exchange

  • London Stock Exchange Market Share of UK Lit trading was 72.5% in July 2020, with £85.6bn order book value traded
  • £26.3bn traded during Closing Auctions, representing 30% of total order book
  • £9.7m ADVT in Closing Price Crossing (CPX) Session

  Borsa Italiana - Equity and Derivatives

  • Borsa Italiana market share of Italian Lit trading activity was 84.2% in July 2020
  • €2.4bn Borsa Italiana ADVT in July 2020

  Borsa Italiana - AIM Italia Professional Segment

  • AIM Italia applied regulatory changes as of 20 July, introducing AIM Italia Professional Segment, for professional investors
  • The Professional Segment is designed for:
  • Gradual access to markets: companies wishing to adopt progressively the necessary structure to operate on the market open to retail investors
  • Start-ups and scale-ups
  • Just Listing operations: companies which have no immediate capital raising needs, or prefer to wait for a change in market conditions, or wishing to increase their visibility to investors before proceeding with the offering
  • Offering structure: companies which structure their offer with complex products, that are not suitable for retail customers.

  Borsa Italiana - ETFplus

  • ETFplus AUM reached the new record of €91.22bn as of end of July 2020 (+15.2% vs July 2019), with 1289 instruments (1080 ETFs and 209 ETCs/ETNs available on ETFplus
  • ATFund market AUM reached €391.5m
  • Borsa Italiana ETFplus RFQ: €433.7m traded in July 2020, with 352 trades and €1.23m average trade size

  ETFplus RFQ: Monthly turnover and number of trades (December 2016 - July 2020)
  
  Did you know that...

  BTP Futura is the retail-only government bond dedicated to financing Covid-19 recovery in Italy, placed on Borsa Italiana MOT until 10 July

  The first placement recorded high participation, with over €6bn for 174 thousand contracts