Dealers Push for Delay of European Derivatives Trading Obligation

Banks and industry associations warn of havoc if current timeline is implemented

Market participants are warning that technology, operational and political concerns should prompt a delay to the rules.

As part of the Markets in Financial Instruments Regulation (Mifir), certain derivatives will only be allowed to trade through recognized platforms such as multilateral trading facilities (MTFs), regulated markets, or a new form of venue created for this purpose, organized trading facilities (OTFs).

“While [the International Swaps and Derivatives Association] appreciates that there is political will to ensure that the trading obligation comes into force as soon as possible, we have significant c