Commenting on the implementation of the Markets in Financial Instruments Directive (MiFID II), and the associated delegated regulation (MiFIR) today, Simon Lewis, Chief Executive at AFME, said:

“Today sees MiFID II take effect. It is one of the most impactful and wide-reaching pieces of financial regulation to affect our industry to date. The review of the Markets in Financial Instruments Directive (MiFID II), and the associated delegated regulation (MiFIR) will fundamentally affect the way investment firms trade and interact with their clients, as well as how the European securities market ecosystem works.

“In addition to strengthening the general investor protection regime and enhancing the current regime for equities markets, MiFID II extends this revised regime to an expanded range of product classes, including fixed income products and over-the-counter (OTC) derivatives. AFME supports the regulatory aims of the MiFID review of enhanced levels of investor protection, increased competition across the financial markets and calibrated transparency to facilitate fair, orderly and liquid markets.

“Our members have been working closely and diligently with policymakers, regulators and the financial market industry to prepare for the go-live of this challenging project. AFME has been supporting its members through this implementation period and we will be continuing our constructive engagement, examining the impact of the MiFID package over the next few months.”

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