So much for getting a rise out of the Europeans for high frequency trading. ?
In a new CovergEx survey, 42 percent of European financial-industry participants responded that equity markets aren?t fair to all while about 28 percent believe they are fair. When these results are contrasted to an April ConvergEx survey, it disclosed that 70 percent responded the U.S. equity market isn?t fair while 18 percent said it was.
Joseph Cangemi, the chief executive officer of ConvergEx?s London unit, said via Bloomberg,??In the U.S., high-frequency trading flow from a customer standpoint had a very negative connotation. In Europe, customers are less reactionary and seem to have a more temperate approach mostly because HFT is one of the many issues up for discussion here with new regulation, Mifid II, being introduced.?
Additional findings included the following:
- 20 percent said that HFT is either helpful or very helpful as compared to 19 percent in the U.S. survey.
- About 39 percent do see it either as harmful or very harmful as compared with 51 percent from the U.S. .
- 68 percent of European respondents have not made changes in the manner in which they interact with the market even with the HFT debate while 20 percent either made slight or significant changes. For the American responses, they were 71 percent and 22 percent, respectively.
- 34 percent of Europeans favor more regulation as compared to 43 percent from the U.S.
- About 32 percent desire less regulation as compared to the U.S. response of 19 percent.?
Here’s the survey.?