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Developed Europe Trading Team

Overview Methodology

From Russia’s invasion of Ukraine to disparate regulatory hurdles, volatility across Europe was high this year. But the region’s top execution firms were there every step of the way for European equities traders.

“Understanding the market structure in the region and the changing regulatory landscape remains a critical task for any bank,” said Brian Gallagher, head of cash equities execution EMEA for BNP Paribas Exane. “The potential divergence of the regulatory regime in the U.K. and Europe is a focus for our teams. On top of that, the ongoing conflict in the Ukraine and energy crisis will continue to make Europe an extremely volatile trading region.”

If you ask respondents to Institutional Investor’s 2022 Developed Europe Trading Team survey, BNP Paribas Exane has mastered these nuances.

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For the Developed Europe Trading Team, Institutional Investor polled buy-side traders and other investment professionals at asset management firms with investments in European equities, asking them to rate brokers on various attributes for trading and execution. We received responses from 183 individual traders and portfolio managers at 151 firms.

Respondents were asked to rank their trading services providers on attributes for Electronic Trading, High-Touch Trading, Portfolio Trading, and Delta One/ETFs.

Attributes for Electronic Trading:

  • Algorithm Customization
  • Algorithm Performance
  • Market Access & Transparency
  • Service Quality & Support
  • Transaction Cost Analysis

Attributes for High-Touch Trading:

  • Access to Block Liquidity
  • Access to Small / Mid-Cap Liquidity
  • Maintaining Order Anonymity
  • Minimize Market Impact
  • Quality of IoIs
  • Service Quality

Attributes for Portfolio Trading:

  • Client Service Quality & Support
  • Global Market Access
  • Index & Portfolio Research
  • Pre and Post Trade
  • Reliability of Settlement/Back Office

Attributes for Delta One/ETF:

  • Access to Differential Liquidity
  • Price Improvement

Participants first rated their top firms within each attribute on a scale from 1-5. A numerical score was produced by weighting each vote based on both the responding firm’s European equity commissions and their rating. Scores for each attribute were aggregated together to create the top Trading Leaders.

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