Market Quality publications

Demystifying the liquidity gap between European…

A widely held belief in global finance is that the US equity market reigns supreme in terms of liquidity, surpassing other markets by a wide…

Equity Trading News - February 2024

Are you afraid of the dark? Thanks to Euronext Mid-Point Match, you won't be.

On 18 March 2024, Euronext will launch dark, mid-point and sweep…

Latency costs of Dark MTFs

Equity Trading News - January 2024

Since the completion of the migration of Borsa Italiana's cash equity markets to Optiq®, we have been happy to focus our efforts on the expansion of our order book functionalities and product…

Equity Trading News - October 2023

In this month’s Equity Trading Newsletter, you will find details on the upcoming expansion of Euronext Global Equity Market (Euronext GEM) – planned in November 2023 to facilitate the access to…

Equity Trading - September 2023

On 27 March 2023, Borsa Italiana equity markets migrated onto Euronext Optiq® platform. What can we observe 6 months later? 
Take a look at this newsletter and our latest equity…

Equity trading ‘Made in Italy’: From migration to…

After publishing studies on (#1) the evolution of market quality during Covid volatility…

Equity Trading - Summer 2023

As the summer period is approaching, we are glad to share a recap of the first half of 2023 with (1) evolution of market share across exchanges and MTFs, (2) the successful migration of Italian…

Equity Trading - May 2023

In this month’s Equity Trading Newsletter, you will find equity product innovation updates as we plan to (1) launch dark trading and midpoint functionalities, and (2) expand our retail offering…

Equity Trading - April 2023

Market quality analysis on Euronext remaining the venue for price formation in Europe.

We provide observations on Euronext’s superior price formation metrics compared to…

Milan equities outperform Equiduct APEX

Equity Trading - March 2023

Factual insights on Euronext being the market where price formation happens.

We also provide observations on Closing Auctions activity, evolution of European equity volumes…

Equity Trading - January 2023

2022 was marked by superior and resilient market quality, even in times of volatility as demonstrated by our quantitative research studies, record trading days, and our core data centre migration…

FX Global Code vs Non-Code execution quality…

FX Global…

From better Markouts to better passive execution…

Equity Market more resilient to global turmoil?

The Covid outbreak in 2020 had already marked a turning point, with volatility at consistently higher…

Better passive posting across Lit venues

Equity market quality in times of volatility

2020 was an exceptional year in terms of volatility in Europe, reaching the levels of 2008 (measured by the CAC 40® Volatility Index or VCAC). Over the course of 2020 and 2021, volatility has…