Reactions mixed in Asia to Mifid II
The European directive, agreed last month, is expected to have implications – albeit relatively limited ones – for buy-side traders and independent investment advisers in Asia.
Asia-based buy-side traders and independent investment advisers need to be aware of Europe’s Markets in Financial Instruments Directive II, which was agreed last month – but the effect on them seems unlikely to be major.
For one thing, Mifid II is set to place caps on equity trading in dark pools: 4% of the trading volume in a single stock within one dark venue, and 8% of the aggregate volume in a single name across all such venues.
One head of dealing at an Asian fund house say…
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