Andrew Delaney
Andrew Delaney

Preparing for MiFID - assessing its impact on the FX market.

Andrew Delaney outlines how MiFID's broad impact across Europe's financial markets will also be felt in foreign exchange.

Andrew Delaney, editor, MiFID Monitor, looks at how MiFID’s broad impact across Europe’s financial markets will also be felt in foreign exchange.The EU’s Markets in Financial Instruments Directive (MiFID) may have been a long time in the making, but awareness of the oblique requirements for compliance has only just started to pervade the European financial services marketplace. And yet, in the short space of time the market has been aware of the structure-busting regulation, two myths already perpetuate. The first is that the buy side won’t be affected by the directive. We won’t get into the whys and hows here, but this is just plain wrong. The buy side will be affected, although given the opacity of the specific requirements, it’s not clear yet by how much. The second great myth is that the MiFID regulation will have no impact on the foreign exchange markets. That, too – as...continued

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