Analyst covering equity market structure, ETFs and cryptocurrencies | Big on climate finance too
SIX Swiss Exchange's agreed takeover of Aquis Exchange takes the Swiss firm's share of European equity trading from 10% to 15%. Its plan to set up "a competitive pan-European listing venue" is more interesting still. Is SIX betting that the EU will remove the regulatory obstacles in its way? Euronext just revealed its to-do list for the next three years. "A unique European listing, trading and post-trade solution for ETFs" is the first item. It's a big ask to take market share in ETF trading from Bloomberg and Tradeweb, Europe's dominant venues for the securities. And the European Commission is looking at ways to transfer oversight of trading venues to the European Securities and Markets Authority (ESMA). Big bang may work better than gradualism. For clients only, we just published our latest analysis of developments in European equities: https://bit.ly/4eB1KsF
