EMEA ELPs

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EMEA ELPs: The Competition Intensifies Electronic liquidity providers are playing an increasingly important role in EMEA equity markets, but growth is only part of the story. New analysis from ISS LiquidMetrix finds that competition among seven leading ELPs is intensifying across pricing, trade size and liquidity provision. Total ELP traded value increased 29% on an […]

An Ecology of Trading Venues Liquidity & Venue Differentiation

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An Ecology of Trading Venues In our latest white paper, we analyze how U.S. lit equity venues behave across stocks with different liquidity regimes. Using full‑year 2025 order book and trade data for the S&P 500 and Russell 2000, we examine the behavior of these venues for stocks with different levels of liquidity using price‑setting […]

Comparing Broker Algos: A Scorecard Approach

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Comparing Broker Algos: A Scorecard Approach With the usage of Algo Wheels expanding rapidly over the past few years, particularly among larger institutions, this white paper looks at how to normalize market conditions for Algo Wheel measurement and analysis.

Execution Path Dynamics: A Comparative Study of US & EMEA

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Execution Path Dynamics: A Comparative Study of US & EMEA “Execution path dynamics” refers here to changes in how trading styles may shift as the order is implemented. A close examination of execution styles reveals clear regional differences between the US and EMEA markets, differences that have real implications for sourcing liquidity, capturing spread, and […]

Volatility Surprise Metrics

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Volatility Surprise Metrics ISS LiquidMetrix has just introduced two new metrics to analyze and provide insight into improving trading performance. The Volatility Surprise and Spread Surprise metrics provide a quantitative approach to understanding which brokers and trading strategies are most effective in extreme trading conditions.  Learn more by downloading the paper using the form below.

Bilateral Liquidity – EMEA

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Order Size, Trading Costs & Bilateral Liquidity Part 1 What is the relationship between the size of a Parent Order and trading performance? Over the years, trade analytics (TCA) has categorized the drivers of trading cost into constituent parts like market impact and opportunity costs to try to identify how to improve trading performance. Wayne […]