Esma Opens Consultation on Mifid II, Refines HFT Scope

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Steven Maijoor, Esma Chair.

The regulator, which is mandated by the European Commission to develop draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS) to guide the industry in the implementation phase of Mifid II, must conduct a public consultation beforehand, as required by European rules. "The launch of today's Mifid II/Mifir consultation process is an important step in the biggest overhaul of financial markets regulation in the EU for a decade," says Steven Maijoor, chairman of Esma.