Executive Summary
Traders are supportive of the Transaction Fee Pilot but won't miss the Tick Size Pilot, and they are sympathetic to the sell side's arguments around exchange market data pricing. On other issues, such as the Order Protection Rule, unlisted trading privileges and the Consolidated Audit Trail, the jury is still out.
MethodologyBetween May and October 2018, Greenwich Associates interviewed 64 equity traders at asset managers and hedge funds in North America, seeking their opinion on current equity market structure topics.