In Broadsides and Brush Strokes, Traders Call for Lighter Regulatory Touch

Speakers and attendees at TradeTech Europe called, with varying degrees of subtlety, for a relaxation of regulatory reform.


Doug Cifu is one of them. Speaking during the TradeTech Europe event, held in Paris from April 25 to 26, the CEO of high-speed electronic trading firm Virtu Financial made his thoughts about recent rulemaking, in particular, the revised Markets in Financial Instruments Directive (Mifid II), abundantly clear.

“I didn’t really understand the problem that people were trying to solve with Mifid II,” he said. “If someone can please explain to me I would be happy to learn. I am a big believer in free

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A rough race begins: Industry faces uphill transition to T+1 settlement

With T+1 compliance set to begin next May, firms will likely be burdened by reduced IT budgets, existing legacy systems and manual processes over the next 15 months. So, while faster settlement will help innovate the middle and back office, some argue industry needs a longer timeline.

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