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Europe’s financial markets watchdog today has cancelled its MiFID guidelines regarding the organisational requirements in automated trading environments. The ESMA’s guidelines were issued in 2011 and were applied to the trading of all financial instruments in an automated platform, as opposed to being restricted solely to the stocks venues.
The decision comes as MiFID II regulations adopted new guidelines on systems and controls in trading platforms, investment firms and competent authorities. Among other things, the new rules ensure that auto-trading venues have in place sufficient capacity to deal with any surges in trading volume.
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