Algo flagging proposals come in balanced but forthright response to Esma's Mifid II Discussion Paper
FIA Europe and FIA Epta have voiced their concerns that
Mifid II could have a hugely detrimental impact on the
efficiency of European derivatives markets in their response to
Esma’s calls for market feedback.
Over 340 firms submitted responses to the European
Securities and Markets Authority following the issuance of a
Consultation Paper and Discussion Paper into the update to the
Markets in Financial Infrastructure Directive (Mifid II) set to
come into force in 2017.
FIA Europe and FIA Epta, which represents the proprietary
and algorithmic trading community in Europe, submitted a
detailed and balanced response on a range of topics covering
microstructural issues covered within Mifid II but could not
hide their fears over some of the proposals mooted by Esma.
The associations urged Esma to avoid a broad-brush approach
on numerous areas of reform and where possible adopt a
principles based approach to set standards rather than the
prescriptive parameters hinted at throughout both the
Discussion and Consultation Paper.
This article is available to subscribers and registered users
Please log in to continue reading.
Not yet registered? Take a free trial.
If you have already taken a free trial you
have ongoing access to the analysis section of FOW.com including this story.
Log in using your details below to read.
Already have an account? |