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ESMA: Working paper on the fragmentation in European equity markets since 2019

17 Sep 2025 (UPDATED: 13 Mar 2026) International 1 min read

This paper considers the evolution of the European share market microstructure from 2019 to 2022, with a specific focus on the impact of Brexit.  It concludes that Brexit had a significant impact on trading fragmentation.


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Last updated · 13 Mar 2026
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