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European HFT concerns mirror those in the US, says survey

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Less than a third (28 per cent) of European financial industry participants believe that European equity markets are currently fair for all, and almost twice as many (28 per cent) believe that high frequency trading (HFT) is harmful as believe it is helpful (14 per cent).

That’s according to ConvergEx Group’s European Equity Market Structure Survey, which explores the concerns and actions of financial industry participants regarding HFT, regulatory oversight and market stability.
 
Despite these concerns, more than two-thirds (67 per cent) report that they have not made any changes to the way they interact with markets.
 
In April, a survey by ConvergEx Group of US industry participants found similar results.
 
"Market structure issues continue to dominate the financial discussion in 2014, both in Europe and the US," says Eric Noll, president and chief executive officer of ConvergEx Group. "Our European survey provides a snapshot of a financial community trying to understand and react to the impact of technology and regulation on markets. Worldwide, ConvergEx is helping its clients design and execute new strategies to address an evolving landscape."
 
"High frequency trading is part of MiFID II and the broader market structure conversation in Europe that includes the roles of multilateral trading facilities (MTFs) and broker crossing networks (BCNs)," says Joseph Cangemi, chief executive officer of ConvergEx Limited, a London broker-dealer and ConvergEx's European headquarters. "Our clients are looking to us to help navigate new regulations across the spectrum of European trading venues."

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