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The European Equity Market Report (EEMR) and FESE Equity statistics are now split into three categories making them even more accurate and complete. This enhances users’ ability to analyse current market trends in European equity markets by better differentiating between the transactions done at the Exchange/MTF (both on and off the EOB) and those done outside the Exchange/MTF but reported to it. The three categories are as follows:
| Electronic Order Book Transactions (EOB) |
| This contains all transfers of
ownership by way of trades executed through the Exchanges/MTFs electronic order
book, where orders placed by trading members are usually exposed to all market
users and automatically matched according to precise rules set up by Exchanges/MTFs
(generally based on price / time priority) and whose prices are displayed to the
market. These trades may include floor trading organised by an Exchange/MTF. All
electronic order book transactions are single-counted. |
| Off
Electronic Order Book Trades (Off-E |
| This contains trades different
from the EOB, confirmed through a system managed (directly on indirectly) by the
Exchange/MTF, where both seller and buyer agree on the transaction (price and
quantity). This system checks automatically if the transaction is compliant with
the exchange rules, including most often consistency with EOB price. All
off-electronic order book transactions are single-counted. |
| Reporting
Transactions |
| This contains trades reported
through a Trade Reporting Facility (TRF) when only one counterparty
provides information on the trade and offers dissemination services at the
request of the reporting trader. The other counterparty could use this
facility if reporting is mandatory. All reporting transactions are
single-counted. |
| N.B. All categories are
mutually exclusive |
The FESE European Equity Market Report for October 2009 is
now available:
- The Report gathers data
from all European Market Operators and the major MTFs,
- Each trading venue
uploads and validates the data according to the FESE
Statistics Methodology,
- All Reports from
January 2008 until this month are downloadable for free in a single file
from the FESE
website
Since the implementation of MiFID, the European Equity Market Report is the only piece of analysis that allows for an accurate comparison of trading statistics across European trading venues.
