Mifir transparency rules could capture illiquid packages
Criteria to assess which package transactions are liquid are too broad, industry warns
Derivatives market participants are warning European regulators will need to clarify the rules on transparency for package trades or risk leaving dealers exposed as they are forced to publish pre-trade details on illiquid trades.
"I think the general concern is that the definition of liquid package proposed in the legal text is very broad. The way it is drafted there is a feeling it will capture illiquid packages that market participants don't believe are truly liquid," says James Roberts, a
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