The new Markets in Financial Instruments Directive (Mifid) is due to come into force in Europe on 1 November 2007. In summary, Mifid will mean three significant changes for the energy business:
• New rules for buying and selling energy derivatives.
• New rules for energy exchanges and markets.
• New rules for marketing energy derivatives across the EU plus Norway, Iceland and Liechtenstein (the European Economic Area, or EEA).New market and clearing choices
After Mifid, all organised markets mus