European Parliament Affirms Mifid II Proposals To Curb HFT, Create OTFs
This follows a unanimous vote by the 27 member states in favor of the proposals, which took place in September.
The Parliament voted in favor of a minimum resting time for orders of 500 milliseconds, thereby restricting the freedom of high-frequency traders. Firms will also have to ensure that they have circuit breakers in place to ensure trading can be stopped in times of market stress.
Meanwhile, Organized Trading Facilities (OTFs), widely seen as analogous to Swap Execution Facilities (SEFs)
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