Spot FX could be dragged into Mifid II

EC tells Risk.net it is studying Australian-style approach to regulating currency trading

European-Commission

The European Commission is looking to Australia as it considers pulling spot foreign exchange into Mifid II, the regime that exists for equities, bonds and derivatives – a radical change that industry lawyers and lobbyists have been hoping would fade from view, following intense criticism.

That hasn’t happened yet. In an email, an EC spokesperson points to the Australian model as a precedent for regulation of spot currency trading alongside securities markets.

“Market integrity laws like those

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