MiFID II Fallout: Market Structure & Liquidity

There is a consensus among buy side firms in The Finance Hive Equities network that although MiFID II hasn’t achieved some of its goals, it has created an environment where venue innovation has led to greater choice in execution mechanisms and a more reliable and consistent trading experience in each venue type.

We recently gathered a select group of head traders with an interest in market structure to join a roundtable session to discuss experiences in some of these venues and analyse the effect that recent innovation has had on the way they are sourcing liquidity.

This report summarises the conversations, conclusions drawn and the key takeaways from the buy side to take back to their desks.

One of the things we have tried to implement here are actionable IOIs but it seems that not that many people have dedicated any time or resources to this yet. We are keen to see further innovation and progression in closing auction alternatives to see how the volumes evolve, and see if price volatility is a side effect of those initiatives.

To read more, download the report to view the full findings.

Interested to read the report?

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