Mifid delays cause frustration in OTC markets

Clock workings

Market participants will have to wait to get clarity on the European Union's review of the Markets in Financial Instruments Directive (Mifid), with the Council of European Union now unlikely to reach agreement on the revised trading rules before the end of the Cyprus presidency on December 31.

While the European Commission and European Parliament have both made their decisions on the rules - which will require sweeping changes to trading practices in over-the-counter derivatives and foreign

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