MiFID II and MiFIR: Stricter Rules for the EU Financial Markets
D. Busch, MiFID II & MiFIR: Stricter Rules for the EU Financial Markets, Law and Financial Markets Review 2017/2-3
Posted: 14 Dec 2017 Last revised: 10 Nov 2018
Date Written: December 12, 2017
This article analyses and discusses the new MiFID II and MiFIR rules for the EU financial markets. In particular, it analyses the terms ‘regulated market’, ‘MTF’, ‘OTF’ and ‘(systemic) internalisation’. It also discusses (i) pre-trade and post-trade transparency, (ii) transaction reporting, (iii) data services providers, (iv) concentration of trading, (v) position limits, and (vi) position management powers in the case of trading in commodity derivatives and reporting obligations.
Keywords: MiFID II, MIFIR, EU Financial Markets, Regulated Market, Multilateral Trading Facility (MTF), Organised Trading Facility (OTF), Systemic Internalisation, Pre-Trade Transparency, Post-Trade Transparency, Transaction Reporting, Data Services Providers, Approved Publication Arrangement (APA)
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