Sub-groups to study MiFID effect on EU
LONDON – The MiFID Joint Working Group has created five sub-groups to study the implementation of the European Union’s Markets in Financial Instruments Directive (MiFID).
The working group held its first meeting on May 3. There, attendees decided to focus on five areas where they can develop best practice recommendations and provide feedback to the regulatory authorities.
MiFID is designed to increase transparency as well as competition in the trading reporting arena. It requires firms to publish prices for trades conducted off-exchange as firm quotes to market, rather than simply offering them to clients. It also mandates ‘systematic internalizers’, who match
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