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European Financial Reform Post-Crisis: Weighing the Costs
The banking union aims to facilitate a more integrated banking sector within the EU and to mitigate the potential for systemic risks from banks acting across borders yet supervised (until now) at a...
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EU Policy Update: How the New EU Parliament Is Taking Shape (Podcast)
Analysis on the next European Commission president, the makeup of parlimentary committees, and how these developments will affect the implementation of MiFID. Read more
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Views on HFT in Europe, ESMA’s Role in MiFID Shared at E-Finance Lab Event
As the MiFID II Level 2 consultation draws near, here’s the latest perspectives on liquidity, transparency, and HFT in Europe. Read more
View ArticleUnbundled Commissions: Explicit Payment for Investment Research Set to Alter...
The issue of how equity commissions are used to buy investment research takes center stage in the European Union. Read more
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ESMA Sets MiFID II Rules: Complex Balance between Transparency and Liquidity
As is so often the case, the devil is in the detail. And with much of the detail applying to previously unchartered market terrain, it remains to be seen what consequences these rules will have for...
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2 Fast 2 MiFID: What Does Brussels Have in Store for HFT?
The goals of MiFID II are mostly to limit nontransparent trading and strengthen controls and system resilience with regard to algorithmic and high-frequency trading. Read more
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Takeaways on Best Execution, MiFID II, and Trading Innovation
With a delay likely, one hopes all these MiFID II issues can now be ironed out properly. Read more
View ArticleMiFID II: ESMA Races to Close the Systematic Internalisation Loophole
ESMA uses the existing rulebook to clarify the question of when systematic internalization activities cross over into functionally operating as a trading venue.
View ArticleMiFID 2.1: Some Updates are Ready to be Installed
Some aspects of MiFID II are proving difficult to implement including the double-volume cap, futures clearing, and Systematic Internaliser tick sizes.
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