UK Order Book
On the UK equity order book, the average daily number of trades increased 33 per cent on June last year to 685,093. The average daily value traded was Â£7.7 billion, a decrease of eight per cent on the then record figure for June 2007, but up ten per cent on the average daily value traded during May 2008. The average value of the FTSE All Share was 14 per cent lower in June 2008 than in June 2007.
In the first six months of the year, UK equity order book trading continued to outperform all other major European equity markets, with the average daily number of trades up 57 per cent to 713,645 and a nine per cent increase in daily value traded to Â£8.2 billion.
Italian Order Book
There were 5.1 million electronic trades in Italian equities during June, with a combined value ofâ¬82.8 billion (Â£65.6 billion). This represented a decrease of 12 per cent in the number of trades, and 37 per cent in the value traded compared with June last year. The average value for the MIB index during June was down 28 per cent year on year.
International Order Books
There were 908,609 international equity trades across the two markets during June 2008, 40 per cent more than during the same month last year. The total value traded was also up year on year, increasing six per cent to Â£17.1 billion (â¬21.6 billion).
ETFs and ETCs
ETFs and ETCs attracted 126,307 trades across the two markets during the month, an increase of 29 per cent on the previous June. The total value traded in ETFs and ETCs was also up, increasing 90 per cent year on year to Â£5.3 billion (â¬6.8 billion), second only to the record value traded during January 2008.
In the first half of this year, the total number of ETF and ETC trades carried out on the order books reached 881,517, an increase of 29 per cent year on year, while the value traded has more than doubled year on year, up 103 per cent to Â£29.9 billion(â¬38.5 billion).
A record 8.9 million contracts were traded on EDX and IDEM during June, up 25 per cent year on year. The notional value traded during the month was Â£141.2 billion (â¬178.7 billion) down eight per cent on the same month last year.
The record trading volumes were driven by exceptional growth in EDX Londonâs FTSE Russia IOB service, which had its second record month in a row, with an average of 113,646 contracts traded per day, more than ten times the average for June 2007, and 63 per cent higher than Mayâs record.
Separately, there were 240,745 trades in securitised derivatives during the month and the total value traded was Â£1.9 billion (â¬2.4 billion).