EU Rule Has $7B IT Price Tag
FRONT PAGE: COMPLIANCE TECHNOLOGIES
LONDON—In a wake-up call to U.K. financial institutions, an IT strategist at a major firm says that the Markets in Financial Instruments Directive (Mifid) will have the biggest impact on U.K. markets since the Big Bang, and will have a billion-dollar price tag.
London’s "Big Bang" refers to the deregulation of British financial institutions in 1986 and the subsequent automation of the U.K. markets.
Bob Fuller, head of IT strategy at Dresdner Kleinwort Wasserstein (DrKW), also stresses that Mifid
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