The Future of Investing in Europe's Markets after MiFID
Edited by Chris Skinner
ISBN: 978-0-470-51038-4
John Wiley&Sons
292 pages
2007
Desciption:
The Markets in Financial Instruments Directive (MiFID) is the biggest change programme Europe’s capital markets have ever attempted. It takes all the protection away from Europe’s Stock Exchanges and forces investment banks, brokers and dealers to guarantee best execution. The organisational, process and technology changes demanded by the MiFID are massive. In order to understand these challenges, industry commentator Chris Skinner has gathered the views of Europe’s leading figures in the MiFID community to discuss its implications. From an introduction from the European Business School and European Commission, through the views of leaders in the key constituencies of MiFID Connect and the MiFID Joint Working Group, through to organisations supporting the markets such as Reuters and SWIFT, this book provides a 360-degree perspective of the world of investing in Europe’s markets after the MiFID implementation. Anyone who has anything to do with dealing, trading and investing in European equities and instruments will find this book an essential guide to the markets now and into the future. With this book as their guide, readers will understand: • The key MiFID business issues • How to implement the directive • How it will affect the markets once it comes into force
Contents.
About the contributors.
Acknowledgments.
Introduction.
1 The Benefits, Opportunities and Challenges of MiFID.
2 An Overview of MiFID.
Best Execution.
Client Classification.
Passporting.
Principles-based Regulation -Will It Work?
Regulators: Consistent or Confused?
Regulatory Convergence: The Prospect for a European SEC.
Do We Need A Pan-European Regulator?
MiFID and RegNMS: Changing the DNA of the Capital Markets.
Make or Break for Europe.
Exchanges, MTF's, Systematic Internalisers and Data Providers.
Europe's Investment Markets in a Post-MiFID World: the Fight for
Value-Add.
Taking the Cost and Risk Out of MiFID Implementations.
What is the Outlook for Execution Venues Post MiFID?
How MiFID Changes Banking Business Across Europe.
MiFID&s Impact Upon the Retail Investment Markets.
What is the Role of Pre- and Post-Trade Standards?
MiFID: Data Leniency and All That.
Glossary.
Index.