Dealers cling to “commercial policy” as get-out in Mifid II price tiering downfall

Banks warn prices to rise under new regime

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Under scrutiny: banks warn prices to rise under new regime

Good clients will no longer get the best prices, derivatives exposure will be spread around an array of small banks instead of being concentrated with the market leaders, and it will be impossible to pick up the phone and get a quote for a small trade. For European corporates and buy-side firms, this is what tomorrow's bilateral swaps market looks like – according to dealers, at least – and alarm bells are already ringing.

"I don't see why customers that are creating a lot of business for banks

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