A new draft report on Mifid II amendments confirms plans to ban payment for order flow (PFOF) in Europe, as well as removing dark pool caps and supporting a pre-trade consolidated tape, among others. The TRADE explores these legislative updates in detail to provide a comprehensive summary of the proposed changes.
Tag: Dark pools
Analysis from the UK’s regulator has said that dark trading, which the EU has restricted under MiFID II rules, can reduce costs for investors.
Citi Match users were misled about HFTs operating in the dark pool for more than two years, according to the SEC.
Nasdaq and FINRA will increase reporting fees as costs of operating its trade reporting facility have risen 16% since 2012.
ITG said in its second quarter earnings report that the SEC is investigating POSIT and could hand the broker a $12 million fine.
SEC approves amendment which will require dark operators to disclose information for greater transparency and regulatory oversight.
Only 26% of traders believe dark liquidity will shift towards lit venues under MiFID II regime in Europe.
Bans will be implemented over a six month period, effective from 13 April, but capped instruments remain available for trading under LIS waiver.
Have trading volumes moved onto lit venues following MiFID II’s restrictions on dark trading and the rise of systematic internalisers? Hayley McDowell examines.