Full Steam Ahead

Traders Magazine Online News, December 22, 2017

Christian Vogit

Last week, ESMA published the long outstanding reference data for equities and bonds. Captains of the industry might worry little about abbreviations such as LIS, SMS, ADT, AVT or ADNT. But the engineers below deck understand perfectly well that these are the crucial coordinates to keep the ship on course. The reference data allows you to work out what MiFID II really means at an instrument-by-instrument level and turn lofty principles written in MiFID II into something tangible.  As we slowly comprehend the full impact, and with some ongoing fine tuning by the regulators, the discussion will certainly continue. And in the meantime there is not much left to say, other than full steam ahead towards January 3rd.

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• Regulations