Platforms win small on Mifid day one

risk-0916-phone-trading-web
Hanging on: “The rule we have for everyone in my team is everything below the [size threshold], you don’t quote. You tell the clients ‘I’m sorry, but you have to go to the trading venue directly’,” says a European bank's rates sales head

One of the first concrete effects of Europe’s new trading and transparency rules has been to limit the choices available to buy-side firms when executing smaller trades.

On day one of the second Markets in Financial Instruments Directive, some banks refused to offer bond prices bilaterally as a way of avoiding the accompanying disclosure burden, directing clients to trading platforms instead.

Central Banking’s sister publication Risk.net spoke to three sources at banks classed as systematic

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: