FIA Europe urges changes to MIFID II rules
FIA Europe joined several other trade associations representing financial institutions and commodity firms in sending a letter to the European Commission, the European Parliament and the European Securities and Markets Authority raising concerns about several aspects of Markets in Financial Instruments Directive II that could “severely affect” commodity markets. The groups urged the European authorities to consider several changes to the implementing rules before they are finalized. These changes relate to position limits, position reporting rules and the definition of “ancillary activities.” The other associations that signed the letter were the European Federation of Energy Traders, the Global Financial Markets Association, the International Emissions Trading Association, and the International Swaps and Derivatives Association.
