MiFID Descends across Europe

First Published in Automated Trader Magazine 9/Issue 09 Q2 2008 : Feature

Six months after its launch, the Markets in Financial Instruments Directive (MiFID) has begun to stimulate greater competition between trade execution venues, but the fragmentation of liquidity and trade reporting has also caused confusion among buy-side institutions. Chris Hall reports.


A lack of headline-grabbing glitches had many dismiss MiFID as something of a non-event, following its launch last November. But after the hype came the reality. Buy- and sell-side firms have been getting on with the business of adapting to a new environment in which they must choose between venues for trading and trade reporting. While MiFID's introduction was never likely to bring Europe's equity markets to a standstill, the Directive's teething troubles are now beginning to bite. Brok...

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