The changes being ushered in by MiFID II are designed to curb the use of research as an "inducement" that brokers offer to investment managers in exchange for execution and flow. Under the new rules, buy-side firms must make either a direct payment from their own resources or a payment from a research payment account (RPA), which is funded by client money, for all substantive investment research received.
For buy-side and sell-side firms, these requirements represent a new frontier that is rapid
Bryan Harkins joins to discuss how the CBOE-Bats integration is going and plans for the exchange operator going forward. Anthony and James talk about the SEC hack and Esma's potential new powers.Subscribe to Weekly Wrap emails