27 October 2016

Co-Authors

Anish Puaar

Vice President    

Justin Schack

Managing Director    

Alex Kemmsies

Vice President    

Rosenblatt Securities Inc.    
New York +1 212 607 3100    

LET THERE BE LIGHT
Rosenblatt’s Monthly Dark Liquidity Tracker - European Edition


Dark-pool market share fell from August’s record high, dropping 87 bps m/m (-42 bps y/y) to an estimated 8.33% of pan-European consolidated turnover in September. This includes the 19 venues that provide us with volume data as well as our estimates for non-reporting pools. Together these platforms executed approximately €6.41 billion per day last month, up 12.20% m/m (-13.24% y/y). But consolidated turnover rose by a much greater margin of 23.99% m/m (-8.89% y/y), to €77.0 billion daily (see “The Numbers” table, next page), resulting in lower market share for dark pools.... Continue Reading

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