File this one in the (bulging) ‘no one ❤ stocks’ archives.
August in London, according to the London Stock Exchange:
In August, 15.6 million trades were carried out across the Group’s equity electronic order books, with a combined value of £128.6 billion (€156.2 billion), down four per cent on August 2009…
UK Order Book
UK order book includes UK and international equities, Exchange traded products and Securitised Derivatives traded in London. In August the average daily value traded was £4.0 billion (€4.9 billion), down two per cent year on year; the average daily number of trades reduced six per cent to 526, 631.
Still, a month to remember for dark pools (link added)…
The average daily value traded on the Turquoise integrated book in August was £813million (€987 million) down 25 per cent on the same month last year. The average daily number of trades was also down nine per cent at 220,384. On the dark mid-point book, Turquoise traded an average daily value of £162 million (€196 million) which is a 449 per cent increase on August 2009. There were a total of 644,899 trades, an increase of 544 per cent year on year.
And for ETFs…
Total value traded in Exchange Traded Products across the Group’s order books in August continued to rise and was up 29 per cent year on year to £8.1 billion (€9.8 billion). The total number of trades was also up 25 per cent reaching 316,599 while the average daily value traded was up 22 per cent to £374 million (€455 million).
Oh yeah, and for bonds…
The average daily value traded on the MTS Cash markets during the month was up 24 per cent year on year at €8.6 billion (£7.1 billion). On the MTS Repo market, the average term adjusted daily value traded increased by 49 per cent year on year to €211.5 billion (£174.2 billion).
Just not for, y’know, boring old stocks.
LSE’s had a tough time of late in the cash equities business (to say nothing of its derivatives performance, also down with a thud in August) but we reckon we can chalk this one up to the apathy trade, too.
Related link:
The Cult of Equity is dead. Long live bonds – FT Alphaville