MTF bilateral trading protocol offers Mifid arbitrage

Nordic banks to use the protocol to benefit from longer deferral period

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Market impact: Nordic banks expect to be subject to the short deferral period of 48 hours

For traders, there are few things more important than transparency – how soon and in how much detail the rest of the market knows about their trades. Little wonder then that the prospect of European Union member states applying different post-trade transparency standards is attracting attention.

The standards in question are part of the second Markets in Financial Instruments Directive and accompanying regulation (Mifir), which come into force in January 2018. But where there’s a will there’s a

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