MiFID II and Evolving Equity Execution

With Societe Generale Prime Services’ Francois Banneville

HAMLIN LOVELL

Fragmentation of equity market microstructure and liquidity has manifested in a near doubling of trading venues from 17 in 2007 to 30 a decade later, while average ticket sizes have been divided by seven, dropping from EUR 28-30,000 to EUR 4-5,000 over the same period. The increased complexity of navigating these markets has forced asset managers to raise their game. “Execution efficiency is a cost of doing business and it is getting harder and harder not to invest a lot of money,”...

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