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Open Letter: "MiFID II rules for 'Systematic Internalisers' will hurt European investors"

Date: 6th October 2017
Author: BETTER FINANCE

In principle, European individual Investors welcome the introduction of the new Markets in Financial Instruments Directive (MiFID II). However, given BETTER FINANCE’s priority to ensure the protection of individual European savers and investors, we are concerned about the shrinking share of regulated securities markets in the EU, now down to around 50 % of transactions, compared to 67 % in the US and 88% in East Asia. Recent research reveals that the majority of OTC trades (58%) are retail-sized trades and that a significant part of the trades of European individual investors are now executed on these “dark” venues. Capital markets must remain fully open and transparent to individual investors.

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