Cboe Global Markets, Inc. (Nasdaq: CBOE) has reported highlights from May 2018 for Cboe Europe Equities, including record average daily notional value (ADNV) traded for its block trading platform, Cboe LIS, as well as its Periodic Auctions book.
The proportion of activity on the Cboe Periodic Auctions book that is a result of broker priority allocations was 21% in May (also 21% in April) – compared to approximately 30% during the first quarter of the year – demonstrating the significant level of multi-lateral matching taking place in this order book.
Mark Hemsley, Bats
Mark Hemsley, President of Europe for Cboe, said:
We continue to be pleased with the positive response and support we’ve received from our customers this year for Cboe LIS and Periodic Auctions. While volumes in our Periodic Auctions book have continued to grow, the proportion that is a result of non-broker priority allocations has risen to nearly 80%, which means a significant amount of addressable liquidity is available to market participants.
Additionally, as the overall large-in-scale market has grown since the implementation of MiFID II, market participants are increasingly turning to Cboe LIS, which now accounts for 17% of the LIS market since launching just 18 months ago,” he added.
Cboe Europe Equities has seen good market share growth since MiFID II came into force at the beginning of 2018 with overall pan-European market share reaching 22.4% in May, its highest market share since October 2016.