Europe bears bulk of equities pain

摘要

US equity derivatives businesses extended their lead over their European rivals during the second quarter as US flow activity held firm while a short bout of volatility following the UK's vote to leave the European Union did little to revive client activity in Europe and Asia. Despite US outperformance, equity trading businesses have had little to celebrate in 2016, contracting for the third quarter in a row, on a year-on-year basis, during the three months to the end of June. The top 12 equity dealers posted combined Q2 trading revenues of US$11.5bn-equivalent, down 12%.