MiFID II

  • MiFID II

    Transforming Europe's markets

Six years after the European Commission first published its initial proposals, the revised Markets in Financial Instruments Directive and the accompanying Markets in Financial Instruments Regulation – better known as MiFID II and MiFIR – will come into effect across all EU member states from January 2018.

MiFID II is intended to build on the achievements of MiFID I, with the aim of making financial markets more open, efficient, resilient and transparent. The initial focus on extending transparency and competition across asset classes has grown to cover new customer protections, controls in areas such as algorithmic trading, and the implementation of obligations imposed by the G-20 largely as a result of the 2008 financial crisis.

Under MiFID II the transparency requirements that currently apply to equities markets will now be expanded and adapted for the fixed income and derivatives markets. For investors, the enhanced conduct rules it sets out will lead to significantly increased protection. MiFID II also sets out a range of more prescriptive measures and obligations for a trading venue’s  trade and transaction reporting and publication of real time data.

Our Approach

London Stock Exchange Group is firmly committed to delivering the benefits of MiFID II and to working closely with its customers to ensure their readiness for implementation. This webpage has been created to keep you informed of our approach to delivering MiFID II changes across LSEG.  We will keep these pages updated but encourage you to check with the relevant business entity, or with your relationship manager, for specific updates.  

Technical Notices will be published, and relevant document libraries updated, to inform market participants on details of system releases with MiFID II changes as per normal procedures. You can find the relevant document libraries using the trading venue links to the left of this page.

 
Learn more about; Pre- and Post-Trade Transparency, Waivers, Trade Reporting, Transaction Reporting, Pre and Post Trade Data.
 
Learn more about; Clock Synchronisation, Algo Testing, Mechanisms to manage Volatility, Market Making, Execution Quality Data, Data required for Order Record Keeping, Reference Data.
 
Learn more about; Clearing Timeframes and Indirect Clearing.
 

Open Access is at the core of our whole philosophy; because it puts customers first.