CESR has issued advice to the European Commission on the MiFID review. CESR’s advice consists of three sections and contains policy proposals with regard to the following subjects:

  • standardisation and organised platform trading of over-the-counter (OTC) derivatives
  • post-trade transparency standards on equity markets
  • client categorisation.

CESR previously consulted the market on these subjects. CESR’s first advice to the Commission was issued on 29 July 2010. The Commission is expected to consult the market in due course on the review of the MiFID.