MiFID II: regulatory burden or a driver for innovative change?
/What if we look at MiFID II from a business perspective instead of just a compliance issue?
Read MoreSelect a category to refine:
A new reality
/
I'm supposed to be doing lots of other things right now. But to be honest, I'm too disappointed to focus. A lot of things were lost in electing Trump, including the little faith I had left in the common sense of the electorate after the Brexit vote.
In an earlier article on Brexit, I already wrote that the Brexit vote was part of a bigger trend which included the rise of populist politicians in Europe and Trump in the US. A new reality is settling in and it will have a huge effect on people but also on market structures.
Leaving personal feelings aside, as well as the effects this election will have on the environment, human rights, the economy and basic human decency, let's take a look at how this election may affect market structure.
Throughout the campaign, Trump was not very clear on policies he would bring in his administration. But he was crystal clear on the fact that he absolutely loathes regulation. He feels regulation is killing business and entrepreneurship. Now, Wall Street never fully jumped on the Trump train but now that his reign is starting they will make lemonade out of this lemon and kill as much regulation as they can. This means Dodd-Frank will be in the cross hairs of Trump and the SEC and CFTC can already plan to cut their budgets.
Now, if US regulation comes under fire, Europe will take another hard look at the European equivalents, MIFID and EMIR. If the trend of populism and isolationism will continue in Europe, we can assume that European regulation will come under heavy scrutiny by newly elected Euro skeptic parties. Combine this with the UK exit and the trend in the US and you can wonder if the European financial industry should become the most regulated market in the world. Don't get me wrong, regulation in essence is a good thing. But if the rest of the world is turning into a 'free for all', having MIFID will be like competing in a swim race with your hands tight to a 50 pound boulder.
So, in the words of the guy who predicted the Cubs winning in 2016 in his 1993 yearbook, you heard it here first: In this new reality, MIFID II might be dead before arrival.
Agree, stronly disagree or do you predict other effects? Open for discussion in the comments.
Making the argument for the Netherlands
/We've said it before: 'It ain't much if it ain't Dutch.' Article on the attractiveness of the Dutch market for Brexit refugees.
Read MoreSo, that happened
/The die has been cast. Now what?
Read MoreSME Funding is getting crowded
/"It's the economy, stupid." Traditional exchanges and new entrants are realizing that the best way to regain trust in the financial markets is by going back to the basics.
Read MoreLSE and Deutsche merger: Size is not the only thing that matters!
/
LSE and Deutsch are going to merge. Size is not the only thing that matters.
Read MoreClock synching, don't get your knickers in a twist
/
One of the MIFID II requirements is about clock synchronization. Maarten Kalff dove into the subject and finds it all pretty doable.
Read MoreEquity option competition-part II
/In a series of articles, Cornelius Müller, the Paris-based Sales Representative for Eurex Exchange with global sales responsibility for single equity options, provides insights into developments in European equity options.
Read MoreThe rise of fixed income trading venues.
/
Some fierce competition is growing in the fixed income trading space. Why?
Read More
What HFT could do
/HFT and society, Is it enough to explain its social relevance to get accepted as an industry, or is there more HFT could do?
Read MoreHFT and social relevance
/
Over the past few years efforts have been made to explain HFT. However, the debate was often very technical or not always very elevating. HFT interest groups should position HFT in society and explain the social relevance.
Read MoreGermany pushing for FTT across the board
/
The German Finance Minister calls for FTT across the board instead of the 11 countries that have reached an agreement. Is that a bad thing, or could it actually be good?
Read MoreAlgorithmic Trading: Setting the record straight
/
Much has been said about the risks and benefits of algorithmic trading. After the BSE Sensex and NSE Nifty fell shaply on May 6th, algorithmic trading became a hot topic in India. Kunal Nandwani CEO of uTrade Solution weighs in on the topic.
Read MoreEurope's market makers are the real ''local firms''
/Guest author Roderik vd Poel went through the FIA EPTA position paper advising on capital requirements for market makers
Read MoreCan financial Dino's avoid the Fintech asteroid?
/While the financial giants are rolling from crisis to crisis, their existence is also threathened by a more systemic threat
Read MoreEquity option competition in Europe
/The Dutch equity option market has become a center of competition between exchanges. But it is not just the Dutch market. Cornelius Müller from Eurex gives his insights on competition developments.
Read MoreMore similarities between HFT and F1
/
There are more similaries than mere speed and heavy competion between F1 racing and HFT.
Read MoreInside ETF Europe 2015
/
The largest ETF conference made its annual trip to Amsterdam, a report
Read More
