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17 January 2024

Parliament: Financial services: final vote on better data access and more robust EU markets


MEPs adopted rules to enhance financial market data transparency, optimise orderly trading and prohibit payments for forwarding client orders.

Amendments to the Markets in Financial Instruments Directive (MiFID II) were adopted with 521 votes to 19 and 57 abstentions.

Amendments to the Markets in Financial Instruments Regulation (MiFIR) were adopted with 518 votes to 46 and 34 abstentions.

MiFID II and MIFIR are the main pieces of legislation regulating investment services and activities of EU-based trading venues. The rules endorsed today were agreed with member states in June l2023.

The new provisions should reduce information asymmetries between market participants and improve orderly trading in commodity derivatives concerning energy and food. To protect investors from suboptimal trading decisions, the practice of receiving payments for forwarding client orders for execution (‘payment for order flows’) will be banned across the EU.

 

ECON



© European Parliament

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