EMEA: Mifid news dominates (again)

Author: Amélie Labbé | Published: 11 Dec 2017
The Mifid II train will arrive at Compliance station on January 3

EU news has been dominated by the imminent arrival of the new Markets in Financial Instruments Directive (Mifid II) and all the lingering questions that its anticipated implementation has attracted.

Chief among these is the traded on a trading venue (TOTV) issue, which continues to cause head scratching pretty much everywhere. The legislation requires that a financial instrument is TOTV, reporting obligations are triggered. While this provision will only apply to certain types of instruments, the exact scope of this remains undetermined. A European Securities and Markets Authority opinion says that if a derivative shares certain aspects with another that is already TOTV, then Mifid II provisions will be...



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