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MiFID II: Exemptions and Trading Volumes
Stefan Negrila, Head of Regulation at Excelian, Luxoft Financial Services. Excelian Luxoft helps launch Mifid II technology projects for global banks across Europe.
“As expected, most institutions were only partially prepared for MiFID II. Therefore financial regulators have granted last minute exceptions to ease the pain and ensure orderly function of the markets. Futures exchanges in the UK and Germany were granted a 30 month extension by the FCA and BaFin respectively, for example.
“A lot of work still needs to be done. Even after the bulk of the compliance work is finished, firms need to adapt to the new reality. Those that are fully prepared have come out ahead and are already picking up trading volumes from competitors.
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