ESMA rules out further delay on MIFID II implementation

January 2018 final deadline for all stakeholders

The European Union's markets watchdog has ruled out further delays to the bloc's sweeping reform of securities trading rules which are due to come into effect in January.

The "MiFID II" law injects more transparency into stock, bond and commodities markets, and requires more derivatives to be traded on a platform, rather than privately between banks, to apply lessons from the 2007-09 financial crisis.

The start date has already been delayed by a year to 2018 to give banks, markets and customers more time to prepare, and the European Securities and Markets Authority (ESMA) said the new deadline must be met.

"Contrary to some recent coverage and commentary, MiFID 2/MiFIR will come into effect on 3 January 2018, there will be no further delay in its implementation," ESMA Chairman Steven Maijoor told a Futures Industry Association conference on Wednesday.

Deloitte can support you in assessing the effort to comply with MIFID II/ MIFIR and support you in defining your target operating model and an implementation plan to meet ESMA’s dadlines

Should you be interested in any of our solutions, including organising a workshop with our team, please do not hesitate to contact us.

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