MiFID -- An Introduction
The European Union's Markets in Financial Services Directive (MiFID) involves the most far-reaching reform of any major financial market ever undertaken. As a result of this new legislation, Celent estimates that investment firms will be able to significantly increase their revenues.
In a new report, " ," Celent outlines the major changes in regulation that MiFID seeks to achieve. More importantly, the report analyses the impact and implications of MiFID in terms of the structure of the European financial markets, including an analysis of changes in the areas of market data, order execution policies, liquidity fragmentation and best execution requirements.
According to Octavio Marenzi, co-author of the report, "European investment firms remain woefully unprepared for MiFID. Many are totally unaware of the contents and direction of the directive, and virtually none have taken any concrete steps to prepare themselves for the new structure of European capital markets that MiFID will give rise to. Rather than simply being a regulatory compliance exercise, MiFID gives rise to myriad new business opportunities for investment firms."
The major changes in regulation that MiFID seeks to achieve will be discussed at an upcoming roundtable hosted by Celent on November 29, 2005 at the Le Ritz Paris. Click here for additional information on this event.
A table of contents is available online.
of Celent's Securities and Investmentsresearch services can download the report electronically by clicking on the icon to the left. Non-members should contact firstname.lastname@example.org for more information.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Paris, France 15 July 2005
MiFID - An Introduction
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