The revision of MiFID/MiFIR 2 will focus on two priority axes. Thus, the European Commission will focus on the problems of inefficient stock market data, free access for central counterparties and the strengthening of

The obligation to trade shares and the distribution of transactions between regulated exchanges, multilateral exchanges and investment banks that trade shares on their books, are the main menu of the review of MiFID/MiFIR 2.
At a conference organized by the Bloomberg agency, Tilman Lueder, head of DG FISMA's “Securities Markets” unit at the European Commission, said that he did not expect investment banks to represent such an important part. “We need to see if this is a result of MiFID. Investment banks are filling gaps for large asset managers and large volumes, but they are also executing smaller tickets. We need to see if it's an effective way to organize,” Tilman Lueder said.
For his part, Udo Franke, head of the stock markets and securities division of the German Ministry of Finance, said that the review should focus on issues related to market structures. The review will make it possible to monitor the flows of OTC derivatives after Brexit and to study the vertical integration of derivatives traded on stock exchanges.