Sweeping changes to the European securities markets are planned by the European Commission through its review of the Markets in Financial Instruments Directive (MiFID II).
The MiFID II proposals have been released in October 2011, with a view to adopting them early this year. The new financial regulation will have a fundamental impact on investment firms and will change the way securities markets operate in the EU. The key goals for the new regime will be enhanced system stability, market efficiency and competitiveness, as well as investor protection.
The proposals are likely to have a significant impact on the profitability and business strategy of affected firms, and will require substantial developments to trading architecture and operating models.
Despite the lack of clarification on the timeline, it is imperative that firms begin to make key strategic and operational decisions now to capture competitive advantages. Those who act now will be able to identify and capture potential market opportunities, and plan proactively for the restructuring that will be required.
MiFID II is not just a compliance exercise. It will change your business!
The attached publication gives you more information on how MiFID II will impact your business and an indicative timetable for its implementation.