October 2017 - LSEG to the Buy Side
8 Oct 2017
Highlights
- Record €1.68bn weekly and €6.05bn monthly value traded via Turquoise Plato Block Discovery™
- London Stock Exchange share of lit trading 72% in September
- Turquoise Lit Auctions™ received regulatory approval and set for Q4 2017 launch
- Franklin Templeton issues first ETFs on London Stock Exchange
- Borsa Italiana welcomes Pirelli, the biggest continental European IPO in 2017
Turquoise Plato™
- September saw the highest ever monthly value traded on Turquoise Plato Block Discovery™ at €6.05bn
- +10% on previous record of €5.49bn in July 2017 - Record weekly value traded resulting from Turquoise Plato Block Discovery™ of €1.68bn between 11-15 September
- Following Turquoise Market Notice, Turquoise Plato Block Discovery™ periodically publishes traded volumes on the Trade Adverts section of the Bloomberg IOIA page
- Aggregated volumes are now updated twice per day – around midday and 3pm (UK Time)
- TPBD is used as the four-letter acronym to distinguish the venue, and volumes are reported in the Crossed column (see below)
(ABOVE) Snapshot of Bloomberg IOIA page Trade Adverts: TPBD in ‘Crossed’ column
- Graph below reflecting that Turquoise Plato Block Discovery™ had the largest number of block trades in LIS Band 5 stocks last week
(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)
- On 20 September, Turquoise announced it plans to launch frequent transparent auctions
- Turquoise Lit Auctions™ will be pre-trade transparent & MiFID II compliant
- Auction mechanism has already obtained regulatory approval for Q4 2017 launch
London Stock Exchange Lit Order Book
- London Stock Exchange average share of UK lit market trading for September 2017 was 72%
- The highest monthly share since June 2009 (73%)
- Share of UK lit trading reached 80.4% on 15 September
Borsa Italiana Lit Order Book
- Borsa Italiana's average share of Italian lit market trading for September 2017 was 81%
ETFs
- On 27 September, Franklin Templeton listed 4 ETFs on London Stock Exchange
- This is the third new ETP issuer in 2017, with GF International (China) and Fidelity also listing products
- 94 new ETPs admitted to trade on London Stock Exchange in 2017 - €843.1mln traded on Borsa Italiana's ETFplus market on 7 September
- This surpassed the previous record of €762.6mln
UnaVista
- FCA approves London Stock Exchange as an Approved Reporting Mechanism (ARM), through its UnaVista platform
- Offering transaction reporting services for its customers to help them in meeting their reporting obligations under MiFIR
Derivatives
- Total IOB derivatives volume on LSEDM in September was 388,828 lots (vs. 211,562 lots in August 17)
- Already a record year for FTSE MIB Dividend Index Futures which traded 16,000 contracts YTD
- Societé Générale and BNP Paribas support liquidity as primary market makers - IDEM welcomed ICAP as the first Non-Executing Broker
- IDEM's liquid order books are supported by 24 global market makers - CurveGlobal celebrates first anniversary
- 1.5mln lots traded since launch in September 2016
- 40% of this achieved in the last 3 months
Primary Markets
- On 04 October, Pirelli became the biggest continental European IPO to date in 2017
- Pirelli raised €2.28bn, valuing the company at €6.5bn
- This marks 30 IPOs on Borsa Italiana's markets since the beginning of the year - 6 IPOs on London Stock Exchange markets in September
- 3 on AIM raising £174mln and 3 on the Main market raising £223.3mln
Conferences & Events |
Small Cap and STAR Conference FIX Trading Roundtable AIM Conference CEO & CIO Lunch at the Exchange The Trade Awards PWC Conference on Asset Management FIX Trading Conference LAAG Working Group |
Did you know that... | FTSE Russell announced the results of the FTSE Annual Country Classification Review for 2017 in September. Poland, currently an Advanced Emerging market, is to be reclassified as a Developed market, while Kuwait, currently unclassified, to be included as a Secondary Emerging market. Saudi Arabia is close to upgrade and will be assessed again in March 2018, while China A-Shares to remain on the Watch List. |