While traders in Europe struggle to come to terms with issues such as the consolidated tape, dark pools and high-frequency traders, Jamil Nazarali, managing director and global head of electronic trading group at broker Knight Capital Group, says there are parallels with the US.

"In some areas the dialogue in Europe is more rationale than that in the US, with high-frequency trading being an obvious example. The debate in the US reached near fever pitch last year, but the discussion in Europe has been more reasonable.