Sassan Danesh and Kuhan Tharmananthar* ask what MiFID II & EMIR mean for the derivatives world, and will Europe follow the US lead where voice trading and RFQ remains firm fixtures?
In the financial industry, at least, no one ever asks the question ‘what on earth do all those European regulators actually do?’ The hundreds of pages of legislation created since the credit crisis include Basel II, UCITS IV, EMIR and now MiFID II are an ample reminder of the constant stream of work produced by the regulators. The industry, whilst changing to meet the immediate market fallout from the crisis has also had to cope with change imposed upon it by those regulations. The challenge for market participants is to how best to adapt to meet the demands of investors, shareholders and regulators at the same time. For the full article, please click here.