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[LONDON] Trading in Europe's dark pools hit nearly 100 billion euros (S$149.64 billion) in June, the highest on record, as the heavy activity in the aftermath of the shock Brexit vote gave sluggish equity market volumes a fillip.
Overall equity trading turnover in June rose to 2.3 trillion euros, the highest since last June, and a 20 per cent increase compared with the average over the past 12 months, according to Thomson Reuters Market Share Reporter.
Dark pools, private trading venues that allow large investors to anonymously cross large orders with an aim to lower trading costs, often see a spike in demand during times of severe volatility.
UBS' multi-lateral facility was the busiest dark pool, grabbing 22 per cent of the regional market share in June.
The two days in the aftermath of the Brexit vote saw particularly heavy trading across European exchanges and trading venues.
On the day of the referendum result on June 24, trading for FTSE 100 constituents crossed US$17 billion, the highest since the depths of the financial crisis in October 2008.