The European pumps are typically displaying what's called the Research Octane Number. The Motor Octane Number is generally lower for blended fuels. In the US what's displayed is the Anti Knock Index, which is the average of the Research Octane Number and the Motor Octane Number. The difference between the RON and MON is the fuel's sensitivity.
Both RON and MON are determined on the same test rig (variable compression ratio engine specially designed for this test), but under different test conditions. When the tests were first posed, the MON better reflected conditions that would be experienced on the road.
Before the introduction of tetraethyl lead, octane numbers were quite low, and engines were limited to lower compression ratios than are common today. Thermal efficiency is tied to compression ratio (higher compression ratio gives higher thermal efficiency), so higher octane fuels made it possible to run with higher compression ratios, and higher compression ratios made it possible to improve energy conversion efficiency. Unfortunately, higher compression also leads to greater normal forces for the sealing ring's mating against the cylinder wall, so this increases friction and reduces efficiency. As a consequence, there's not much payoff for going to higher compression ratios than say 13 or 14 in Otto Cycle (spark ignition) engines.
As an aside, since the alcohols have high octane ratings, there is quite a bit of fuel research presently being conducted to look at how overall efficiency might be affected if engines were designed specifically to run on blends like E30 and higher.
And FWIW, the octane rating compares the ability of the subject fuel blend to resist compression ignition to the ability of 2,2,4 Trimethylpentane to resist compression ignition.
2,2,4 Trimethylpentane is an Alkane with 8 carbons and 18 hydrogens, organized with a pentane backbone and with two methyl groups hanging on the second carbon, and one methyl group hanging on the fourth carbon. The formal name for this hydrocarbon is Octane (Oct for the 8 carbons, and ane denoting that the hydrocarbon is in the Alkane family). In the fuel industry 2,2,4 Trimethylpentane is known as Iso-Octane, Iso indicating that it is an isomer of Octane. Iso-Octane has an Octane rating of 100, for 100% as good as itself ...
And, as another interesting tidbit, another way to organize 8 carbons and 18 hydrogens is in the N-Octane form, the N standing for Normal. Normal Octane has a LOUSY Octane rating.
Yet both have essentially the same enthalpy of formation. And when they combust, they both release very similar amounts of heat as a consequence. The calorific value of a fuel is really dependent on the number of bonds that are broken, and both Iso-Octane and N-Octane have the same number of bonds between carbon and hydrogen atoms.