Mifid transparency regime snares illiquid bonds

Banks and lobbyists call on EC to remove emerging market bonds from real-time transparency

hook - liquid - note - web.jpg
Dealers complain that bonds for which there is no liquid trading can still be caught by Mifid II transparency rules

Bankers are calling for the European Commission to address faulty market transparency rules that are forcing inappropriate public reporting of trades in illiquid bond instruments. The rules are obliging banks to take steps that may include trading the affected bonds outside the European Union to avoid moving the market against themselves by disclosing positions that are hard to hedge or exit.

“Last year, a Nigerian long-dated government bond was liquid,” says a regulatory expert at a global

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here