On 28 August 2020, the Autoriteit Financiële Markten (AFM) announced MiFID II areas of improvement.
21 Sep 2020
A study by the AFM on the effectiveness of the MiFID II regulatory framework for the fixed-income and derivatives markets shows price formation still needs to be more transparent. The MiFID II rules are also considered less suitable for the fixed-income markets. The AFM does, however, note a shift towards on-venue trading for bonds and derivatives as trading in derivatives subject to the clearing obligation has moved to multilateral platform.
This article was originally published in the August edition of REGWATCH. Read the full edition covering the following jurisdictions:
- European Union
- Hong Kong
- United Kingdom