As the first year of MIFID II draws to a close, we can begin to make some observations about its impact on liquidity in Europe’s equity market.
Overall, November saw a dip in European equity volumes, with average daily notional falling 9%, to €79.4 billion, as markets calmed following the turmoil during “Red October.” Month over month, the market exhibited a holding pattern in terms of the market share of major execution channels.
Nevertheless, some clearer trends are beginning to emerge. Here we take a look at four key issues
