Kilburn's Corner: While MiFID 2 Sleeps, London Burns

MiFID may be delayed, but other initiatives continue apace.

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Steven Maijoor, chairman of the European Securities and Markets Authority (ESMA), laid the blame for the delay squarely on technology. In a statement directed at the European Parliament, he stated that IT concerns will make it impossible to meet the Jan. 3, 2017, deadline.

Meanwhile, London’s burning. Or more precisely, the London Stock Exchange’s new fees for its Level 1 and Level 2 market data are burning a hole in the pockets of market data managers across the City. The LSE’s revenues from re