Dark Trading Caps Not Responsible for Periodic Auction Growth, Study Finds

FCA report find that growth in periodic auction trading is not a result of dark-trading bans.

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On June 25, the UK regulator published a study on the surge in periodic-auction trading since the implementation of the revised Markets in Financial Markets Directive (Mifid II), and its continued growth following the introduction of double-volume cap data (DVC) on March 12.

The findings indicate that periodic auctions remain a small portion of the market landscape and that the most recent data fails to support the theory that DVC is the sole reason for its increasing popularity. Christian

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