European Exchanges Emerge as Biggest Winners from Mifid II

The Markets in Financial Instruments Directive came into effect in 2007, a few months before the outbreak of the global financial crisis. Back then, it was merely a first attempt by the European Commission to harmonize regulations between laws imposed by the European Union’s separate national authorities.

Mifid’s revision, however, a package of rules known as Mifid II and initiated by the European Parliament in 2010, had to take into account the radical changes the global markets have undergone