LiquidMetrix Research to Battlemap of the Exchanges

Use this page to monitor the current 'state of play' of Liquidity Fragmentation in Europe.
LiquidMetrix analyses major European indices and ranks the competing trading venues based on trading volumes, spreads, order book depths and the percentage of the time they offer the absolute best European prices. This report is updated weekly. The latest values and rankings are based on last week's data and show the change since the previous week along with a one month trend graph.
Sign up here to receive monthly European battlemaps with market commentary.

Rules of Engagement


UKX Battlemap for the Week 25 Jun 2018

Please select date and index: UKX CAC AEX DAX MIB OMXS30 OMXH25 OBX SMI ATX IBEX35
Market share is based on on-book value traded during continuous trading. The share is calculated by averaging over all stocks in the index. The current value shown is for last week and the change is relative to the previous week. Spreads measure the bid to offer spread of the best visible orders in the book. The result is averaged over the stocks in the index and is based on measurements of the order books every 30 seconds. The value for the spread is quoted in basis points (0.01%). Market depth measures the amount of visible liquidity (bids and offers) in the order book within 10 or 50 BPS of mid price. The result is averaged over the stocks in the index and is based on measurements of the order book every 30 seconds. This is quoted in '000s of EUR. Best Price % measures how often each venue posts an absolute best price (no ties) for stocks. The result is averaged over the stocks in the index and is based on measurements of the order book every 5 seconds.

Want more details?

There are more detailed reports on Market Liquidity and At Best (who is offering best prices) available online and in the LiquidMetrix WorkStation.


The information contained within this website is provided for information purposes only. IFS will use reasonable care to ensure the accuracy of the information within this site. However, IFS will not be held liable for any errors in the information provided within this website or for accuracy or completeness of the information, or for delays, interruptions or omissions therein, any difficulties in receiving or accessing the website and/or for any loss direct or indirect (including without limitation, loss of profits or consequential loss and indirect, special or consequential damages) howsoever arising and whether or not caused by the negligence of IFS, its employees or agents. The information contained within this site may be changed by IFS at any time.

The information available within this website may include ‘Evaluations’ which are not reflections of the transaction prices at which any securities can be purchased or sold in the market but are mathematically derived approximations of estimated values. Nevertheless, reference may sometimes be made to Evaluations as pricing information, solely for convenience or reference. Evaluations are based upon certain market assumptions and evaluation methodologies reflected in proprietary algorithms and may not conform to trading prices or information available from third parties. No liability or responsibility is accepted (and all such liability is hereby excluded) for any information or ‘Evaluations’.

The copyright of this website and all its content belongs to IFS. All other intellectual property rights are reserved. Redistribution or reproduction of the information and data contained within this website is prohibited without the prior written permission by IFS. is an Intelligent Financial Systems Service: ©Copyright IFS 2009

Data Protection

We take our obligations under the following Data Protection legislation very seriously and have taken steps to ensure full compliance

EC Directive 95/46/EC (up to and including 24th May 2018); and
(ii) the Data Protection Act 1998 (up to and including 24th May 2018); and
(iii) the GDPR (from and including 25th May 2018); and
(iv) Replacement National Legislation; and
(v) the Privacy and Electronic Communication Regulations 2003; and
(vi) any judicial or administrative interpretation of them, any guidance, guidelines, codes of practice, approved codes of conduct or approved certification mechanisms issued by any relevant Supervisory Authority,

This is a statement of the data protection policy adopted by IFS Ltd.

As a company that spans the fields of Market Share Analysis and Sales Data analysis, IFS Ltd can be defined as both data controller and data processor. The collection of data for our own database products, plus the need to hold information about individuals, employees, clients and suppliers, defines our responsibility as a data controller. Parallel to this, the work undertaken for many of our customers requires us to hold and manipulate our clients' data. In this capacity we are a data processor.

Specifically, the Principles of the Data Protection require that personal data:
Therefore, IFS Ltd will, through appropriate management, and strict application of criteria and controls:
In addition, IFS Ltd will ensure that: