Mixed reaction to Mifid II's proposals to improve trading transparency
Firms say definition of "algorithmic trading" needs revising, while exchanges applaud new pre- and post-trade transparency framework for OTC derivatives
The release of proposals to update the Markets in Financial Instruments Directive (Mifid II) last week by the European Commission has generated positive reactions from Europe's exchanges, while the region's algorithmic trading companies say more work needs to be done on the proposals.
Exchanges are voicing their approval of the proposals loudly, as they support the increased transparency they say the directive will create, as well as the move to migrate all trading to regulated market operators
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