August 2020- From LSEG to the Buyside
- 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
- 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
- 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 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