Euronext has been named Trading System of the Year at the 2026 FOW International Awards, recognising the Group’s successful transformation of its equities trading franchise and its position as Europe’s leading pan-European equity trading venue. The award was presented at the FOW International Awards ceremony held on 12 February in London.
This recognition reflects the significant transformation of Euronext’s equity trading infrastructure between September 2024 and September 2025. Over this period, Euronext deployed a full and integrated suite of services for both retail and institutional investors, driving stronger execution quality, deeper liquidity and improved market efficiency across European equity markets.
Vincent Boquillon, Head of Equity Trading at Euronext, said: “This award recognises the scale of Euronext’s achievements in equities over a short period of time. We have fundamentally strengthened our product offering, broadened services for retail investors, and driven innovation in the institutional space. At the core of this progress is our role as a primary market, focused on price formation and market quality, and delivered in close partnership with the entire ecosystem to create a platform that is unique, resilient and value-accretive.”
Strong volumes and renewed leadership in European equities
Equity trading activity remained strong throughout the year, underlining the scale and resilience of Euronext’s markets. Average daily value traded reached €10.82 billion, with a peak of €28.75 billion on 7 April 2025, making it the highest daily turnover recorded since 2007. These volumes highlight the growing role of Euronext as the primary venue for European lit equity trading, where it now handles over 25% of European lit equity volumes.
Building Europe’s leading retail equity platform
Retail trading was a core pillar of Euronext’s equities reinvention. Over the past year, Euronext significantly expanded its retail offering through the Global Equity Market (GEM), adding more than 700 new instruments and bringing the total universe to over 1,000 European and US stocks tradable in euros, including extended trading hours. GEM volumes more than doubled compared to 2023, supported by strong retail participation and the launch of a dedicated Market Making scheme, reinforcing Euronext’s position as Europe’s leading retail equity execution platform.
Euronext Best of Book (BoB) further strengthened Euronext’s retail proposition, providing a single point of entry for retail brokers and delivering consistent price improvement. In 2024, retail investors saved over €80 million through systematic price improvement, with BoB delivering best execution 99.3% of the time. Volumes continued to grow strongly in 2025, exceeding €400 million in average daily traded value, supported by the successful launch of the service in Italy in November 2025.
Enhancing institutional execution and block liquidity
Alongside retail growth, Euronext continued to deploy and scale a comprehensive institutional trading offering. Mid-Point Match, Euronext’s dark trading offering, saw significant growth, reaching €100 million in average daily value traded last week, capturing approximately 13% market share in Italy and expanding across other markets, reflecting growing institutional adoption of Euronext’s equity trading services.
In December 2025, Euronext launched Auction Volume Discovery (AVD), one of the most significant innovations in block trading in recent years. AVD unlocks block-sized auction liquidity with no pre-trade transparency and minimal market impact, attracting immediate participation from institutional investors from day one.
Shaping the future of European capital markets
Euronext’s recognition as Trading System of the Year highlights its position as the leading and most comprehensive equity trading venue in Europe, combining scale, innovation and market quality across both lit and non-lit markets. This achievement reflects the continued trust, engagement and collaboration of Euronext’s clients, members, liquidity providers and market participants, whose partnership has been instrumental in shaping and adopting these innovations.
Through ongoing investment in its Optiq® platform and a persistent focus on execution quality, Euronext remains committed to strengthening European capital markets and consolidating its role as the reference equity trading venue in Europe delivering a resilient, innovative and truly pan-European equity trading venue.