Amendments to MiFID II and MiFIR: The EU's markets in financial instruments

Briefing 02-04-2024

The Markets in Financial Instruments Directive (MiFID) and the Markets in Financial Instruments Regulation (MiFIR) are the principal texts regulating investment services and financial markets activities in the EU. Following a European Commission proposal to amend the MiFID and the MiFIR. a provisional trilogue agreement was reached on 29 June 2023, and the final act was published in March 2024. The new rules establish an EU-wide consolidated tape for EU financial markets, as well as making changes to their market structure so as to increase their transparency and competitiveness. Consolidated tape is a high-speed electronic system that reports the latest price and volume data on transactions. Fourth edition of a briefing originally drafted by Angelos Delivorias. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.