MIFID Directive
About MIFID Directive
The Markets in Financial Instruments Directive took effect in 2007, creating a single market for financial services across the European Union. MiFID increased competition by allowing alternative trading venues to compete with traditional exchanges. It required transparency in pricing and best execution for investors. MiFID II, which took effect in 2018, expanded regulation to more instruments and imposed stricter reporting requirements. The directives aimed to make European markets more competitive and transparent. Critics argue MiFID increased compliance costs without proportionate benefits. MiFID II caused unintended consequences including a decline in equity research coverage for small companies.
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