‘FESE has purchased the distribution rights of an independent research report on MiFID published on 28th September 2010. The report is entitled ‘MiFID: Spirit and Reality of a European Financial Markets Directive’ and is published jointly by the Chair of e-Finance at Goethe University, Frankfurt and Celent. Written by experts from the academic and business spheres, the report is a comprehensive analysis of the European equity markets from a legal, economic and business perspective. It draws on a broad range of resources including trading data, interviews, and an analysis of business models. Among others, the report classifies OTC trades according to their trade size relative to MiFID parameters and measures whether an OTC trade would face market impact if concluded on the respective primary market. The report covers the venue classification envisaged by MiFID, the market shares of different venue types, the structure of trades executed in the OTC markets, the rationale for the operators and users of dark trading of different types including OTC platforms, and the consequences for the broader market. The report concludes with recommendations for the MiFID Review.’
FTSE Mondo Visione Exchanges Index:
MiFID: Spirit And Reality Of A European Financial Markets Directive
Date 07/10/2010