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Transparency: the new wonder drug? 

April 3, 2014
Banking Technology

MiFID II and its regulatory cousin, MiFIR, have some lofty ambitions for European securities and derivatives markets.  And one of their most clearly stated goals is to enhance market transparency by bringing about changes to market practices, and potentially even market structures.

The problem is that, while transparency may be seen as a new wonder drug that will cure all the industry‚Äôs ills, it does not come without side effects.  It was therefore refreshing to see the European Securities and Markets Authority (ESMA) promoting a collaborative approach with the industry in defining the details of how MiFID II and MiFIR are implemented.

ESMA is charged with developing approximately 100 technical standards, or advice, relating to MiFID II and MiFIR.  In doing so, it intends to go through a consultation process with the market and hold public hearings to solicit feedback on its proposals for each of those standards. 

Read more: Banking Technology

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