EU Rules may shake up equity data

Under current regulations, firms that conduct trades off-exchange in the bi-lateral "upstairs market" still have to report the trades via their local regulated market. Upstairs markets are used when firms find better prices by trading directly with other dealers on an OTC basis or because they don't want to reveal their trading activity to the wider market.

Now the European Union has proposed The Markets in Financial Instruments Directive, known as MiFiD or ISD2, in an effort to increase tran

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