12 Days of Trading – Day 5 of 12: DVC and LIS

12 Days of Trading – Day 5 of 12: DVC and LIS

Day 5 of 12: As mentioned yesterday, block trading, represented by Large In Scale (LIS) executions, has been growing steadily over the last 2 years.

Some observations:

  • Trading behaviour has adapted to seek out blocks and advances in technology have created better tools to identify and match block trading opportunities.
  • This is illustrated by the chart which seems to infer a greater appetite for block trading whilst DVC suspensions were in place and then a continued acceleration when the suspensions ceased.
  • This surprised some observers who expected the jump in block volumes to be temporary as dark pools regained lost ground.

In the second slide today we show the top 10 stocks trading LIS in the dark over the course of the year:

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On our 12 Days of Trading

As the year draws to a close we have been asked by clients to look and highlight 2018 trends since the introduction of MiFID II. We thought we might make this a festive exercise on the 12 days leading up to the holidays. As a result, you will find a post to a different 2018 big-xyt observation each day.

We hope you enjoy them.

This content has been created using the Liquidity Cockpit API.

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