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MIFID II - MIFIR

The Markets in Financial Instruments Directive (MiFID) is a cornerstone of the EU's regulation of financial markets seeking to improve the competitiveness of EU financial markets by creating a single market for investment services and activities and to ensure a high degree of harmonized protection for investors in financial instruments.

Since 2011, the European Commission adopted a legislative proposal for the revision of MiFID which took the form of a revised Directive (MiFID II) and a new Regulation (MiFIR).

From 3rd January 2018 those new rules have brought the majority of financial instruments into a robust transparency regulatory regime and move a significant part of OTC trading onto trading venues. More specifically, the key rules introduce:

•    Fairer, safer and more efficient markets
•    Greater transparency
•    Stronger investor protection