The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Foreign Exchange

Regulation: The challenge of Mifid

The European Commission’s Markets in Financial Instruments Directive is due for final implementation from November. Many participants in the foreign exchange market still seem to be labouring under the misapprehension that Mifid will not have any impact on them, because the EU’s prime intention is to protect retail equity investors. Furthermore, the FX market is relatively confident that it is already delivering excellent execution (see Does FX need best-execution regulations? Euromoney May 2006).

Phil Weisberg, chief executive of Fxall, wrote in a recent booklet entitled Best practice in foreign exchange markets that he saw "Mifid as one of the key challenges and indeed opportunities that is front of mind for the industry. For many participants there remains uncertainty over precise details of the directive’s implementation while others see an opportunity for a more level playing field. Best execution has been on our industry’s agenda for some time and in many ways Mifid is helping to apply consistency and clarity for our clients."

Laetitia Visconti, a business analyst and Mifid expert at independent software vendor GL Trade in Paris, feels that there is no doubt that some FX players will be caught unprepared when Mifid is implemented.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree