Rising market capitalisation prevented reduced transaction volumes from denting most European exchanges’ equity turnovers in 2024, according to end of year results.
Euronext continued its reign of dominance in European equities in 2024, reporting €2.7 trillion in transaction values over the year. At the other end of the scale, Deutsche Börse and LSE were almost tied with €1.05 trillion and €1.06 trillion reported respectively.
End-of-year 2024 results show LSE pushing ahead of Deutsche Börse in terms of equity turnover, reversing their 2023 standings. This shift occurred in the second half of the year, with Global Trading’s European Exchanges Handbook showing the 2023 rankings in place at mid-year.
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Although it reported the greatest transaction value of European exchanges, Euronext’s results were up just 4% YoY, to €2.7 trillion. Similarly modest increases were seen between December 2023 and 2024, up 9% to €204.9 billion. As noted across the board, values dropped from the previous month – here by 14%.
Rising market capitalisation over the year superseded a decline in transactions, which dropped by 4% YoY in 2024 to 603.7 million at Euronext.
SIX Group (SIX Swiss Exchange and BME) was the only exception, noting a slight (1%) dip in order book turnover over the year to €1.1 trillion in whole-year results. Although there was a small bump in December results compared to 2023 (up 3% to €86.5 billion), there was a more drastic 17% decline on November’s turnover of €101.9 billion.
Transaction volumes were up 2.5% over the year to 44.6 million but dropped by 15.2% between November and December to 3.3 million. For the most part, it was the opposite story at European exchanges – with transaction volumes falling but turnover rising.
At Deutsche Börse, turnover rose by 2% YoY to €1.06 trillion on a year-to-date basis but declined somewhat compared to both December 2023 (€79.2 billion) and November 2024 (€91.3 billion).
Units traded were down 12% to 36 million (results adjusted for comparability) for the full year, and down 44% from December 2023 to 4.23 million in December 2024. This also marked a 44% rise on November’s figures.
LSE recorded a more drastic 12% YoY rise to €1.06 trillion in total volume traded for EOY 2024, and a 9% increase in December volumes YoY to €75.8 billion. From November, this figure dropped by almost a quarter (23%).
A marked decline in international equity trading (down 23% YoY) in 2024 was somewhat offset by a 7% increase in UK equity trades at the exchange. This was more pronounced between December 2023 and 2024 trading volumes, which were up just 1% and down 29% for UK and international equity respectively.
©Markets Media Europe 2024
