Bloomberg Intelligence
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Europe’s Fragmented Liquidity Challenge
Fragmented liquidity in the UK and European equity markets has posed a challenge for the buy and sell sides for many years. But the migration of volume away from lit markets to systematic internalizers and auctions has gained attention from market structure data experts.
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Amid Volatility, European Buy-Side Turns to Program Trading and Systematic Internalizers
In the past, European traders increased their allocation to algorithmic/direct market access (DMA) while reducing high-touch trading. This year, the biggest increase was seen in program trading by about 34%.