Mostly… fixed income and cross product eTrading

May 1, 2007

Post-mifid trade idea?

Filed under: Mifid — holky @ 12:54 pm

As in EFN…. The European Commission has started legal proceedings against the 24 EU countries (all except UK and Romania) that have not yet fully implemented new rules on securities trading into national law – warning that delays beyond the 1-Nov deadline could put European banks and companies at a “serious competitive disadvantage” .. and have a “significant effect on EU financial markets, as investment firms could have difficulties providing services in other member states and could be uncertain as to which legal regime is applicable” – potentially leaving countries open to legal action from private parties claiming damages for losses incurred because of late implementation of national legislation.

I wonder who is going to be first mini-me dr evil to execute something in one of the “rogue states” then sue them for not being mifid-compliant?

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1 Comment »

  1. finextra gives an update on member states’ readiness – http://www.finextra.com/fullstory.asp?id=17206

    3 months to go and just eight of the 27 EU member states have implemented the directive into national law; the EC’s website showing that the Czech Republic, Estonia, Finland, Hungary and the Netherlands will not implement MiFID until November. Greece and Spain will be even later in adopting the directive.

    Comment by holky — July 23, 2007 @ 7:11 am


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