April 2018- From LSEG to the Buyside

Highlights

Turquoise Lit Auctions™

  • €391mln traded through Turquoise Lit Auctions™ in March
    - Through the month, there was a doubling of participants accessing mechanism and a 7x increase in activity

Turquoise Plato Block Discovery™

  • RECORD max trade size of €15.6mln in Banco Santander SA (SANe) executed through Turquoise Plato Block Discovery™ on 16 March

  • Average trade size across all trades in Turquoise Plato Block Discovery™ reached circa €620,000 (12-16 March) versus a Q1 average circa €380,000
    - Step change due to implementation of Double Volume Caps (DVCs)

  • Fidessa graph below highlights how Turquoise Plato Block Discovery's™ market share has seen a further uptick since the implementation of DVCs

(ABOVE) Data and graph from Fidessa’s Top of the Blocks: Block Trading Report: http://fragmentation.fidessa.com/venuestats/blockvenues (The report includes all trades larger than the MiFID I large in scale LIS threshold on the selected venues)

Impact of MiFID II Double Volume Caps


(ABOVE) LSEG analysis on impact of MiFID II DVCs on various European indexes (capped vs uncapped instruments)

Closing Price Crossing Session (CPX)

  • £44.3mln executed via CPX on 28 March
    - Record highest daily value traded through mechanism in 2018
    - Daily average value of £18.1mln traded in March

London Stock Exchange order book

  • Value traded in AIM stocks up 60% YoY in Q1
    - £1.8bn traded via London Stock Exchange and £152mln on Turquoise in March 

  • Average daily percentage of dark trading in the FTSE 100 fell to 4.25% on 12 March, following implementation of MiFID II DVCs

London Stock Exchange Mid-Point Pegged Order


(ABOVE) Total value traded (£mln) through Mid-Point Pegged Orders on London Stock Exchange from Jan 2017 to March 2018

ETFs

  • In March, Borsa Italiana RFQ executed 64 trades for a total turnover of €727.7mln
    - Close to 7% of the total ETFplus turnover
    - RFQ is supported by 7 market makers and it is available to all ETFplus members

(ABOVE) Total turnover traded (€mln) through Borsa Italiana ETFPlus RFQ functionality
  • March 2018 was a record month of ETP listings on London Stock Exchange with 103 launched
    - 1021 ETFs and 488 ETCs/ETNs now trading on LSE

Derivatives

  • CurveGlobal’s Three Month Sterling Futures and Three Month Euribor® Futures have continued their momentum by trading through 100,000 lots of open interest
    - Combined open interest has grown by 28% this year

  • LSEDM hosting upcoming panels at LSEG CIS & CEE Capital Markets Conference and FOW Dublin

Primary Markets

  • 11 IPOs on London Stock Exchange markets in March, raising £1.16bn
    - 6 on Main Market and 5 on AIM

  • 3 IPOs on AIM Italia in March, raising €151mln

ELITE Club Deal

  • ELITE Club Deal supports eToro in raising in $100mln
    - Secures funding from European and Asian investors
    - Demonstrates ELITE’s ability to support fast growing businesses access a range of global funding options
Conferences & Events

FIX Trading – Americas
9 April, New York

Buy-side US Roadshow
10-11 April, New York & Boston

London Stock Exchange DR Buyside Advisory Committee
10 April, London Stock Exchange

CIS & CEE Capital Markets Conference
20 April, London Stock Exchange

Investment Fund Conference
23 April, London Stock Exchange

Trade Tech Conference
25-26 April, Paris

FOW Dublin
3 May, Dublin

Did you know that...

In March, LSEG published 'FTSE 100: Stocks Listed in London'. This directory aims at showcasing the brands of the FTSE 100 companies and also highlighting London’s role as an international financial centre.