Of MiFID and Market Data
COVER STORY
The water is rising, but its depth is still obscured by the fog of bureaucracy. Already, the purling and gurgling can be faintly heard through the din of committee meetings, press conferences and panel discussions. The market data flood is coming, but for now, its impact remains confined to the pages of analyst reports.
The beast behind the flood, of course, is the Markets in Financial Instruments Directive, or MiFID. Financial firms balked at MiFID, and returned to the regulators full of
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