The TRADE 61 - Q3 2019 | Page 94

[ D ATA ] Fragmentation in Europe LiquidMetrix analyses consolidated performance figures for stocks on major European indices and the changes from the previous quarter. T The charts and figures below are based upon LiquidMetrix's unique benchmarking methodol- ogy that provides accurate measurements of trends in MARKET SHARE Based on fragmented European stocks Q1 2019 37.28 €27.20 Q2 2019 38.25 €28.51 Q3 2019 31.23 €23.68 There was a significant decrease in MTF market share during Q3 after the suspension of EU trading Swiss stocks, but not an equivalent decrease in market value traded. Market Value Traded (€billion/day) MTF Market Share (%) 94 // TheTrade // Fall 2019 market movements. Trading Volumes on lit markets including auctions are taken into account, as well as dark trading on the major MTFs.