As MiFID II approaches – and the majority of bulge bracket research providers have decided to eat the cost of research rather than charge for it – the looming concern is market liquidity amid MiFID II transparency. [dalio] MiFID II transparency: “Transparency is not unequivocally good for market liquidity” A primary goal of MiFID II is to bring standardization, transparency and best execution to the marketplace. Banks operating in Europe are required to re-register as “systematic internalizes,” requiring them to publish firm quotes as broker crossing networks are banned and dark pools will be limited. Transparency has always been a key…
JPMorgan Says Too Much MiFID II Transparency Might Hurt Market Liquidity
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.