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MiFID II/MiFIR has been the most ambitious implementation exercise carried out by the financial industry after the financial crisis. The framework addresses the functioning of financial markets, organisational requirements of trading venue operators and investment firms, and selling of financial instruments to investors (including investment advice and best execution).
The upcoming review of the framework by the European co-legislators will affect investment banks as well as retail banks, dealers, buy-side firms, data collectors (and vendors) and trading venues.
In a post-Brexit context, this review is also an unprecedented exercise for EU co-legislators as they will need to assess the effect of United Kingdom’s departure.
This is an ISDA Virtual Conference:
- Event will be live on September 22, 2020 from 9:00 AM – 11:45 AM EST | Timezone Converter
- Miss part of the event or aren’t able to watch live? The recording will be available to registrants until October 22, 2020
The conference will be broadcast via GoToWebinar. Please click here to check your system requirements to ensure you are able to join this event: https://support.goto.com/webinar/system-check-attendee
2.5 CLE Credit Hours Available (New York) Transitional and Non-Transitional
2.25 CPD Credit Hours Available (England and Wales)
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Tuesday, September 22, 2020Print Agenda ISDA Virtual Conference: MiFID Review for
9:00 AM Introduction and Welcome Remarks
9:05 AM Data, Reporting and Transparency
One of the core objectives of MiFID II/MiFIR was to move trading in standardised OTC derivative contracts to exchanges or electronic trading platforms, in order to improve transparency and ensure a level playing field between existing trading execution techniques. This implied new and complex reporting and transparency regimes whose effectiveness largely depends upon accuracy and quality of data. The effectiveness of MiFID II/MiFIR remains questionable in this area.
10:00 AM Break
10:10 AM Commodity Derivatives Position Limits
The MiFID II commodity derivatives position limits was an unprecedented regime in the EU and has no equivalent in other jurisdictions. The legitimate objective behind this regime was to prevent market abuse provoked by excessive speculation particularly on food commodities.
Since its full implementation, the regime has been effective for the most liquid markets but has been a hurdle to the development of new and illiquid markets. In addition, certain ambiguities of scope and complexities have left to liquidity issues that led the European Commission to consider an ambitious reform.
10:50 AM Break
11:00 AM UK MiFID – What We Know So Far
This session will discuss the onshoring of MiFID in the UK: particularly in relation to reporting, transparency and derivatives trading obligation.
11:45 AM Conference Concludes
Agenda is subject to change.
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