# End ‘senseless’ ban on midpoint trading, asset managers urge

## Investors decry European rule that forces them to trade some equities in whole tick sizes

Midpoint should be a valid execution price and investors permitted to trade at a half tick in Europe on all venues, say buy-side firms in fresh calls for regulators in the UK and EU27 to re-examine the tick size regime.

Trading heads also criticised the existing rule as counterintuitive and harmful in forcing them to trade at either the bid price or offer price if the spread is a single tick. The regime applies to equity trades under a set threshold.

“The tick size regime precluding the ability to execute on a sub-tick basis is one of those things that doesn’t make sense to me,” says David Stevenson, deputy head of dealing at Aegon Asset Management.