This report provides detailed information on the European equity derivatives market.  Research is based on in-person and telephone interviews with 170 buy-side respondents between April and June, 2013.

Identifying market trends and analyzing feedback from institutional investors, Greenwich Associates recommends four actions for asset managers to consider to best position themselves for success in an increasingly competitive environment.

U.S. Investment management firms continue to build their client service capabilities as a means of deepening relationships.

Corporate pension fund assets increased by 7% and assets available to external managers from financial institutions also grew by 57% this year.

Consultants continue to be used by over a half of Japanese pension funds, but use is negligible among financial institutions.

Public pension funds' pool of externally managed assets declined this year, with some of the largest funds shifting some part of externally managed assets to internal management this year.

The breadth of domestic equity products continues to contract.

Corporate pension fund assets increased by 7% and assets available to external managers from financial institutions also grew by 57% this year.

Almost three quarters of global foreign exchange trading volumes (74%) were executed through electronic systems last year, up from 71% in 2012.

The shift to central clearing should streamline trade processing over the long term, but industry collaboration is key.