Mifid II’s ‘Free’ Data Lockdown
Traders say Mifid II transparency is failing partly as a result of questionable practices by trading venues and APAs, which publish pre- and post-trade data, and that the data is not always available to the public for free as the law requires
Europe’s new trading and transparency regime promised a lot. For the first time outside the equities market, investors would have data enabling them to properly compare prices, benchmark their trades and gauge market liquidity.
But so far, those promises have not been kept. The data called for by the revised Markets in Financial Instruments Directive (Mifid II) does exist, but critics are scathing about how it is being delivered. Regulators are now scrutinizing the services designed to perform
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