liffe total exchange y/y jan 08/jan09 - down 35% liffe stirs y/y jan 08/jan09 - down 49% equity indexes y/y jan 08/jan09 - down 41% well liffe dont seem to be escaping the volume meltdown. much to their surprise. they seemed to think they were immune to this when i spoke about a year ago. apparently they are blaming the volume plunge on the global recession. BULLSHIT. thats part of it. the main problem is market making agreements handed out to algo based companies who create and provide no liquidity. liffes disastrous decision to send sterling 1/2 tick. preference and low transaction costs to algos who cheat and manipulate the prices. well lets hope they realise the error of their ways. ban algos at the front end with their servers getting in front of everyone paying fuck all brokerage. you dance with the devil and you pay the price. http://www.euronext.com/fic/000/044/132/441322.xls
Markets should be for everyone, both locals and algos included. I think the biggest problem is the fee structure. Algos definitely don't need "special" market making rebates. The markets need real orders with real risk takers.