MiFID II - market structure
MiFID II will bring about important changes in the market structure of European capital markets.
These changes include:
- the introduction of a new type of trading platform; the Organised Trading Facility (OTF)
- the expansion of the obligations of market parties with regard to pre- and post-trade transparency
- the obligation that orders in standardised derivative contracts must be executed on a regulated market, an MTF or an OTF
- the expansion of the licence obligation for certain market parties, such as traders for their own account and parties that engage in algorithmic trading.