FIA has published an implementation summary to help futures brokers and other market participants outside the European Union comply with the direct electronic access requirements under MiFID II that will come into effect in January. The implementation summary is organized as a table describing how the EU-level requirements have been implemented in seven EU jurisdictions including France, Germany, Italy and the Netherlands. The summary highlights differences in transposition from MiFID II into local law with regards to both the provision of DEA and the use of DEA in each jurisdiction, particularly in the context of any existing or proposed third-country overseas exemption or equivalence regime within that jurisdiction. The summary takes into account the updated Q&A on MiFID II and MiFIR market structure topics that was issued by the European Markets and Securities Authority on Nov. 15.
