European Union gives green light to online trading
Europeans never liked trading stocks. They simply did not have the conditions for this. European states traditionally strictly controlled pension funds, isolating them from the stock market. Broad masses of the population are not accustomed to seeing the stock exchange as a real means of preserving and increasing capital, as is customary in the United States. As a result, according to IDC statistics, today only 14% of citizens of Western Europe own shares of any enterprises. For comparison, in the USA this indicator is 55%.
However, the habits of European citizens begin to change thanks to the emergence of private pension funds and thanks to the Internet. A review of the European online broker market is published by BusinessWeek .
In Europe, the clientele of online brokerage firms is growing at 7% per year (in the US - by 4%). And although the inhabitants of the Old World do not yet reach the Americans in terms of trading knowledge, but the situation is changing rapidly.
Europe's largest online brokerage firms include Boursorama in France, Maxblue in Germany and TD Waterhouse in the UK. However, none of them can match the market leader - the German-French office Cortal Consors , a division of the French bank BNP Paribas, which was formed after the merger in 2002 of the French online trader Cortal and the German competitor Consors. Having captured the main Western European markets, now the Cortal Consors is expanding its influence to other countries in the region and opening up new services.
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American offices can not be strengthened in the European market. About 120 of the largest of them moved to Europe at the end of the 90s, in the wake of the “gold rush” of the American dot-com, and the European investors invested are still licking their wounds.
The dot-com boom, of course, did not add to Europeans confidence in the stock market, as well as in American firms. According to experts, European citizens are still not ripe for playing roulette on the high-risk stock market. They prefer to invest in a reliable real estate market or simply deposit money into a savings account in a bank. However, the bank account does not compensate for inflation, and the real estate market, as recent events have shown, can also collapse. That is why the stocks of companies now seem to be a real option for investing personal savings.
Cortal Consors received $ 498 million last year, which is 29% more than the previous year. The number of customers exceeded 1.1 million, and the total volume of assets under management is $ 50 billion.
European brokers are pinning great hopes on a new EU directive, known as the Markets in Financial Instruments Directive or MiFID, which came into effect on November 1, 2007. It aims to integrate European financial services markets and stimulate competition between sites. In particular, now citizens of different countries of the European Union get access to foreign exchanges at no extra charge. So, the French can trade on the overseas site with a rate of? 4.45 per transaction, whereas in their own country they pay ÂŁ 5.45 per transaction on the Euronext exchange. This is a great incentive for online trading. In Europe, conditions are now even better for him than in the USA.
At the end of last year, there were 17.5 million online traders throughout Western Europe, and by 2010 their number will increase to 23.5 million, according to IDC forecast. Almost every fourth transaction will be carried out via the Internet.
via BusinessWeek
However, the habits of European citizens begin to change thanks to the emergence of private pension funds and thanks to the Internet. A review of the European online broker market is published by BusinessWeek .
In Europe, the clientele of online brokerage firms is growing at 7% per year (in the US - by 4%). And although the inhabitants of the Old World do not yet reach the Americans in terms of trading knowledge, but the situation is changing rapidly.
Europe's largest online brokerage firms include Boursorama in France, Maxblue in Germany and TD Waterhouse in the UK. However, none of them can match the market leader - the German-French office Cortal Consors , a division of the French bank BNP Paribas, which was formed after the merger in 2002 of the French online trader Cortal and the German competitor Consors. Having captured the main Western European markets, now the Cortal Consors is expanding its influence to other countries in the region and opening up new services.
')
American offices can not be strengthened in the European market. About 120 of the largest of them moved to Europe at the end of the 90s, in the wake of the “gold rush” of the American dot-com, and the European investors invested are still licking their wounds.
The dot-com boom, of course, did not add to Europeans confidence in the stock market, as well as in American firms. According to experts, European citizens are still not ripe for playing roulette on the high-risk stock market. They prefer to invest in a reliable real estate market or simply deposit money into a savings account in a bank. However, the bank account does not compensate for inflation, and the real estate market, as recent events have shown, can also collapse. That is why the stocks of companies now seem to be a real option for investing personal savings.
Cortal Consors received $ 498 million last year, which is 29% more than the previous year. The number of customers exceeded 1.1 million, and the total volume of assets under management is $ 50 billion.
European brokers are pinning great hopes on a new EU directive, known as the Markets in Financial Instruments Directive or MiFID, which came into effect on November 1, 2007. It aims to integrate European financial services markets and stimulate competition between sites. In particular, now citizens of different countries of the European Union get access to foreign exchanges at no extra charge. So, the French can trade on the overseas site with a rate of? 4.45 per transaction, whereas in their own country they pay ÂŁ 5.45 per transaction on the Euronext exchange. This is a great incentive for online trading. In Europe, conditions are now even better for him than in the USA.
At the end of last year, there were 17.5 million online traders throughout Western Europe, and by 2010 their number will increase to 23.5 million, according to IDC forecast. Almost every fourth transaction will be carried out via the Internet.
via BusinessWeek
Source: https://habr.com/ru/post/16753/
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