Author - Richard Hills

big xyt European Equities Market Microstructure Survey

European Equities Market Microstructure Survey Q1 2021

Welcome to our latest quarterly survey of market volumes and fragmentation trends in European equities. Following a desolate second half in 2020 and despite ongoing Covid-19 and Brexit-related uncertainty, the first quarter of 2021 saw a return to some kind of normality in market volumes. View the complete report here. ***** All the...

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Microbites #3 – Dark Trading in Europe

The big xyt Microbites series is for those who are unfamiliar with the European market structure or need a refresher. In this third episode we look at dark trading in Europe and the unique rules that limit the activity. We recommend that you read the previous episodes if you are unfamiliar...

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Microbites #2 – What and Who Are MTFs?

In our second episode on the European market structure landscape, we describe the grandly named “Multilateral Trading Facilities” (MTFs) and compare them to the better known national stock exchanges. View the article here.

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big xyt European Equities Market Microstructure Survey

European Equities Market Microstructure Survey 2020

In 2020, we took to trading from our bedrooms, garden sheds and conservatories, learned how to download several hundred video conferencing packages, set up a home-school on the kitchen table, and went to work in our pyjamas. As we couldn’t go out on New Year’s Eve to watch the fireworks,...

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12 Days of Trading - Day 4

12 Days of Trading – Day 4 of 12: They might be giants

As it’s nearly Christmas, it will soon be time to wrap up the volumes-related theme we have been following these first few episodes of the 12 Days of Trading.  First though, let's take a look at how the monsters of European trading fared in 2020. The first chart was inspired...

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Increasing volumes point to favour with investors

A sudden recovery in trading volumes in the energy sector is just what we would have expected from the news of the vaccine last week, and it’s in line with the broader market. The news may only be a light on the horizon, but a return to normal levels of...

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