- 3 min
Paris - 22 March 2010 - Crédit Agricole Cheuvreux publishes its February Market Indicators produced in conjunction with TAG.
Key findings for February:
- Since January, we have observed an acceleration in the pace of fragmentation on the main indices. This is especially visible in the market share of Chi-X and BATS. Fragmentation continued in March, but slowed to the speed seen in November. Fragmentation has now spread to two other indices, namely the BEL 20 and the SLI.
- Overall, at the end of February, Chi-X held 17% of the market and BATS nearly 5%. These are both significant milestones given the current market conditions. On Friday 19 February, main markets increased their share of volume for FTSE 100 and SLI stocks, for various reasons. On the SLI, some stocks had decent volume on the main market. London Stock Exchange market share on 19 February was nearly 73%, much better than any other day in February, mainly due to the maturity of stocks and future options, even though this was not a quarterly maturity.
- In all, the increase in turnover is attributable to growth in the number of trades, as the average trade size even slightly decreased. Thus, this is a sign of increased HF trading.
Please see attached document ‘Market Indicators February 2010' for more details.