Trends in Equities Trading 2026

The report highlights key trends shaping the market, such as regulatory reforms, extended US trading hours, rising tokenisation and increasing automation, and explores how firms are adapting their strategies and infrastructure in response.

Global equity markets in 2025/2026 are characterised by a clear divergence in activity; growth concentrated in APAC and select emerging markets, while mature markets, such as the UK, continue to face structural headwinds. Hong Kong, the US and India led IPO activity in 2025, with Hong Kong re-emerging as the world’s leading IPO location amid a surge in listings and a significant increase in secondary market turnover. Japan has also shown signs of recovery in equity capital markets, reflecting a broader regional resurgence across APAC.

In contrast, the UK equity market continues to experience declining trading volumes and persistent capital outflows, despite modest growth in IPO issuance, alongside low levels of domestic ownership and retail participation. The EU equity market sits between these dynamics, with record trading volumes driven by regulatory reform, but still constrained by relatively low market capitalisation, lower liquidity and subdued IPO activity compared to global peers.