The Auction Volume Discovery (AVD) order type for equities helps market participants easily source additional liquidity currently untapped during auction periods.
Euronext's response to the increasing demand for liquidity at auctions
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World’s largest defence IPO ever recorded.
Learn more about Euronext’s initiatives to enhance financing and visibility for European aerospace and defence companies
Trade Mini Bond Futures on main European Government Bonds
Euronext is expanding its repo clearing services to boost market access, liquidity provision and collateral optimisation across Europe.
Euronext Securities is shaping the future of European capital markets by enhancing integration, connectivity, and innovation.
The new generation of high-frequency risk trading platforms, offering the highest performance with ultra-low latency and minimal jitter, all at a low total cost of ownership.
This white paper marks the second edition of Euronext’s Index Outlook series, a recurring publication designed to give investors deeper insight into our index innovation agenda and the structural forces shaping global markets.
Shaping capital markets for future generations
The Auction Volume Discovery (AVD) order type for equities helps market participants easily source additional liquidity currently untapped during auction periods.
Euronext's response to the increasing demand for liquidity at auctions
Auction Volume Discovery orders will allow participants to leverage the auction imbalance as well as provide them with unique block trading opportunities.
Market members will be able to submit non-displayed Auction Volume Discovery orders throughout the trading day. These orders will trade at the official opening or closing auction price without contributing to its determination process.
At the opening or closing auction uncrossing, Auction Volume Discovery orders will first match against the auction imbalance. The remaining AVD orders will then execute against other AVD orders. Any unexecuted AVD order will expire at the conclusion of the respective auction.
Secure your strategy - AVD orders and their imbalance are not published, preventing any information leakage.
At the opening or closing auction uncrossing, Auction Volume Discovery orders will first match against the auction imbalance. The remaining AVD orders will then execute against other AVD orders. Any unexecuted AVD order will expire at the conclusion of the respective auction.
Discover the value proposition and technical specifications of Auction Volume Discovery, with details on the go-live roadmap.
Download the presentation
Download the operational notice, including technical specifications
Auction Volume Discovery (AVD) Brochure
English Version