On October 4, the London Stock Exchange (LSE) confirmed detailed changes to its dealing rules in preparation of the November 1 implementation of the EU Markets in Financial Instruments Directive.

The key changes include: (i) clarification of the requirements for the reporting of client-side legs of risk-less principal transactions, (ii) the use of negotiated and large trade waivers, (iii) the LSE’s deferred publication regime, (iv) European Trade Reporting, (v) the removal of rules relating to the Traditional Options Market, and (vi) clarifications on the use of the terms “customer” and “counterparty”.