Mifid II: Cboe defends periodic auctions

Periodic auction

The firm's Europe president Mark Hemsley responds to accusations from the AMF last week that its practices are not entirely transparent. Periodic auctions, which reveal limited info to the market before an order takes place, have become drastically more popular since Mifid II's double volume caps took effect, But they're not exactly what regulators had in mind when drafting the rules

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