MiFID II Reporting Gets Pushed Back Again, this Time Till January 2018

[kreslik.news]

The European Commission (EC) officially announced today that they are delaying the implementation of MiFID II rules until January 2018. The announcement was expected as feedback to the EC from both the buy-side and sell-side was that many pockets of the financial industry would be unprepared to meet MiFID II requirements by January 2017.

Introduced by the European Securities and Markets Authority (ESMA), MiFID II is a wide ranging group of rules focused on increasing market transparency through pre and post-trade reporting. Include in reports is data alternative pricing and available volume for trades, millisecond timestamps of orders and counterparties.

While ... (read more)