What Impact Will MiFID II Have in 2019?

The video discusses the implementation of MiFID II, highlighting its initial impacts and areas needing further development, such as data reporting and transparency. It addresses criticisms of the double volume caps and potential market circumventions. The discussion shifts to Brexit, focusing on the implications for clearing houses and the EU's regulatory response, including temporary equivalence status. The video concludes with future plans for EU-UK financial relations, emphasizing the need for new legislation to enhance supervision of infrastructures outside the EU.

What is one of the significant changes introduced by MiFID II?

• Reduction in trading hours

• Unbundling of research and execution

• Increase in transaction fees

• Elimination of data reporting

What is the double volume cap primarily affecting?

• Bond market liquidity

• Dark pool trading

• High-frequency trading

• Retail investor access

What action has the European Commission taken regarding UK clearinghouses post-Brexit?

• Reduced regulatory requirements

• Merged UK and EU clearinghouses

• Granted temporary equivalence status

• Banned all UK clearinghouses

What is the role of the private sector in preparing for a no-deal Brexit according to the transcript?

• To reduce trading volumes

• To increase market volatility

• To ensure stability impacts are minimized

• To lobby for regulatory changes

What is the main concern for clearinghouses after the EU Commission's equivalence decision expires?

• Technological obsolescence

• Loss of market share

• Uncertainty in regulatory status

• Increased transaction costs

What is the purpose of the new legislation proposed by ESMA?

• To reduce trading hours

• To merge EU and UK financial markets

• To enhance supervision of infrastructures outside the EU

• To eliminate data reporting requirements

What is the expected outcome of the recognition process for UK clearinghouses?

• A lengthy and complex negotiation

• Complete deregulation of UK clearinghouses

• A straightforward administrative process

• Immediate rejection of all applications