Trilogue agrees MiFID 2: The Economic and Monetary Affairs Committee (ECON) in EP has announced agreement with the Council on the package to revise the Markets in Financial Instruments Directive and create the Markets in Financial Instruments Regulation (the MiFID 2 package). EP highlighted:
- the changes to market structure, with the introduction of new trading facilities and the need to trade a wider range of instruments on them;
- better investor protection against "toxic" products;
- limitations on commodity derivative positions;
- controls on high frequency trading; and
- the third country regime.
See Commission below for further details of the agreement which now needs to be "fine tuned" before the package is formally adopted. (Source: Trilogue Agrees MiFID 2)