MiFID II extends the number of financial instruments covered by trading rules and ensures that trading takes place on regulated platforms. It introduces rules on high frequency trading. It improves the transparency and oversight of financial markets. Both MiFID II and MiFIR are scheduled to apply as of 3 January 2017. The challenges are of such magnitude that essential data infrastructures will not be in place in time for 3 January 2017.
The MiFID II shall therefore apply as of 3 January 2018.
II. General Information
Directive (EU) 2016/1034 of the European Parliament and of the Council of 23 June 2016 amending Directive 2014/65/EU on markets in financial instruments
- Directive extending the application date of MiFID II
- O.J. EU No L (Legislation), Edition 175, Year 2016, p.8-11
- Regular Act
- Legal Basis
- Art. 114 AEUV
- Legislative Procedure
- Codecision procedure
III. Versions and Legislative History
2. Legislative History
CESE (2016) 1921
COM (2016) 56 final