Mifid costs data leaves swaps users in the dark

Dealer charges can’t be compared, critics complain; banks already bracing for review

Lack of standardisation is leading to confusion around costs and charges

New European rules are failing to give derivatives end-users more clarity on the costs and charges being bundled into bid/offer spreads, critics claim, with dealers offering the information in different formats. In some cases, banks are providing a breakdown by product type, while others do so by client.

Dealers say further regulatory guidance is likely to follow.  

“I would expect there to be some sort of thematic review later this year and more guidance,” says Chris Dickens, chief operating