Asian clients will leave Europe after Mifid II

Author: Lizzie Meager | Published: 16 Mar 2017

Institutions from both the buy and sell side will leave Europe altogether to avoid being caught by complicated new rules on reporting, according to market participants.

When implemented the Markets in Financial Instruments Directive (Mifid) II will significantly expand the scope of trade and transaction reporting obligations. And as January 3 2018 approaches, there are entire reams of the legislation that large sections of the industry are still struggling to get to grips with.

"You’d think 1500 pages would be enough detail, but it’s not," said Elisa Menardo, director of public affairs and policy at Credit Suisse at an industry event in London. "Though at least we [the UK] have the consultations, I’m not aware of that in many of the other 27 countries."
One of the areas that the industry is wrestling with is new rules governing pre- and post-trade transparency. Pre-trade rules require venues to publish information on...



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