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Why Europe’s markets might need Mifid III

Lawmakers leaning towards small-scale review, others call for fuller rewrite

Whispers of a review of Europe’s almost two-year-old trading and transparency rules have become full-throated talk. Disquiet among dealers and buy-siders over the provision of data on new bonds and derivatives is fuelling calls for change. Mifid’s much-vaunted transparency is more of a fog.

Few agree on how to fix the problems, though. Some are pushing for revisions of the main legislation to

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