As predicted, the new framework has forced a dramatic shift towards large-in-scale deals as traders look for workarounds to the contentious double volume caps. Here block trading specialists, bankers and operators of the EU's biggest dark pools explain what other factors are at play, including competition between active and passive strategies and the rise of technology
Some of the world's biggest banks are threatening to take their business elsewhere unless the brokers they interact with become trading venues under Mifid II. But brokers, many of them small, voice-based firms, argue they are being treated unfairly and don't have the infrastructure required to host a venue. At the most extreme end of the spectrum, it could force some out of business
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
In-house counsel and stock exchange sources reveal the workarounds third-country firms have found to Mifid II's exhaustive and onerous transparency obligations. From dealing exclusively with Asian subsidiaries of EU firms to making the most of Esma's 2017 venue equivalence admission for shares, trading footprints are changing
The shortlist for the eighth annual Euromoney Legal Media Group Europe Women in Business Law Awards has been announced. For the 2018 nominees, please see below.
The method of trading – a hybrid between on-venue and over-the-counter – has been around for years now, but it's gained new prominence as a solution to many of Mifid II’s transparency obligations. Here Barclays’ head of market structure, regulators, trading venues and buysiders debunk the myths and explain exactly how it works
