Executive Summary

European Equity Trading Trends 2024—Markets Under Pressure

Overall European equities commissions by U.K. and Continental mangers decreased 14% to $2.21 billion from $2.57 billion last year, according to Coalition Greenwich estimates. U.K. trading made up about 62% ($1.37 billion) of these commissions, while Continental trading generated the balance of 38% or approximately $840 million—the same mix as in 2022.

While a 14% decline isn’t good for the sell side, the small silver lining is that many expected the drop to be more severe. Several buy- and sell-side heads we spoke with said some wallets were down as much as 18–20% last year. Nevertheless, access to high-quality executions in the equity market remains critical for U.K. and European investors, meaning those with the right mix of people and technology still have an opportunity for growth.


From April through September 2023, Coalition Greenwich interviewed 102 buy-side equity traders across the United Kingdom and continental Europe. The study was conducted over the phone, online and in-person. Respondents answered a series of qualitative and quantitative questions about the brokers they use and their business practices in the European cash equity space.