Industry slams EU equity derivatives disclosure proposals
"The rules are based on assumptions that are incorrect," says Isda
Industry groups are pushing back on proposals to extend pre-trade transparency requirements to equity derivatives, arguing that the logic underpinning the proposals is flawed and the regulator lacks the mandate to impose them.
Europe's review of the Markets in Financial Instruments Directive, known as Mifid II, proposes to require banks to make bids and offers for a transaction public before it is executed, while the price and size of the transaction would have to be disclosed after execution.
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