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Experts agree ‘perfect’ reporting under MiFID II very unlikely by 2018 

May 12, 2016

Hayley McDowell, The Trade

Industry experts have agreed the likelihood of firms perfectly reporting as required under MiFID II is highly unlikely by 2018.

Delegates at The Trade’s MiFID II event in Frankfurt on 10 May discussed the issue and agreed reporting requirements have brought about ‘unintended consequences’.

Heinz Martin Sorge, chairperson of Deutsche Boerse’s management board, told the panel: “MiFID II was delayed due to the trouble ESMA has in setting up a database for reference reporting. The entire market has to report data.”

Sorge added despite the systematic improvement MiFID II will bring to the market, unintended consequences have arisen which regulators are not on top of.

He said: “It’s not so improbable more problems will arise and there will be years of data being created but not analysed or used.

“There will not be perfect reporting under MiFID by 2018.“ Read more

 

 
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