Hedge Funds See MiFID Win in EU Warning to Trading Platforms
- High-speed traders praise ESMA guidance on access policies
- Traders said rules should lead to greater access to venues
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Hedge funds and high-speed traders have been fighting for years to level the playing field with banks on derivatives trading. They just won a round in Europe.
The European Securities and Markets Authority said earlier this month that trading platforms should ensure access to a broad array of firms and warned against discriminatory policies that would favor some traders over others. ESMA published the guidance to help the European Union’s overhaul of trading rules known as MiFID II live up to its promise of making markets more open, competitive and transparent.