MiFID akin to 'Big Bang'


The Big Bang reference is to UK financial institutions' 1986 deregulation, and the subsequent automation of the UK markets.

Speaking at a forum on the implications of the regulation, sponsored by BT Radianz, Bob Fuller, head of IT strategy at Dresdner Kleinwort Wasserstein (DrKW) in London, stressed that MiFID, which is a European Union (EU) regulation due to come into force in April 2007, may cost European banks around e6 billion ($7.3 billion) in compliance.

MiFID aims to ensure best execution

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