MiFID II is an updated version of the Market’s in Financial Instruments Directive, which came into effect in 2007.

Regulators’ overall aims with MiFID II are:

  • To protect investors more.
  • To Move over-the-counter trading onto regulated venues
  • To create a more transparent system for all asset classes, from equities to fixed income, exchange traded funds and foreign exchange.

 

MiFID II is an extremely extensive piece of legislation. It took more than seven years to draft and runs to more than 1.4 million paragraphs. It came into effect across the EU on 3rd January 2018.

While MiFID II is an EU piece of legislation, it will have implications for firms beyond Europe. For instance the demands made by MiFID II for the personal details of traders may not be compatible with the privacy rules in other parts of the world.

Working out the full implications of MiFID II continues to be a pressing issue for many firms. To learn more how the SteelEye platform can help, Book a Demo by clicking the button below.