Industry Panel Attacks MiFID II

Traders Magazine, April 2011, By James Ramage

Trading in Europe will get more expensive and difficult if reforms to the Markets in Financial Instruments Directive pass as proposed, according to a panel at a recent industry conference.

Panelists on a regulatory session at TradeTech USA said proposed changes to current European regulation-MiFID-will hurt their businesses by raising their costs and making them less competitive.

MiFID was launched in 2007 to increase competition across Europe at exchanges and other trading venues. The rule permitted new competition from ECN-like execution venues. Last year, the European Commission proposed a further review, dubbed MiFID II. And the trading industry is hashing out what effects it will have on them.

Continue reading here.

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