January FRA Newsletter Issue 03/2017

In the wake of the 2008 financial crisis, European lawmakers enacted financial market regulatory reforms. Following the adoption of EMIR for over-the-counter derivative trading, in early 2018 the revised MiFID II and MiFIR regulations will strengthen national regulators’ ability to perform their duties by giving them access to a wider scope of data at their disposal. At the same time, the rise of algorithmic and high-frequency trading in more fragmented markets has contributed to higher order and trading volumes. In the near future, it is estimated that the AMF will collect 50 million messages daily.