MiFID II/R implementation
MiFID II/R impacts almost all of our members since while it is European legislation it also has implications for members outside Europe. The scope of MiFID II is extremely broad and there is still much to clarify and resolve during the implementation period.

ICMA is bringing together its members across the market from the buy and sell side to identify the main challenges to successful implementation and to share their perspectives on the new regulatory regime and its effects on their business models.

The main topics where we are focusing are listed below with the appropriate links to resources on the website.

Product governance                        
Allocation justification recording
Costs and charges
Trade and transaction reporting.
Primary markets
Pre-and post-trade transparency obligations           
Trade reporting obligations
Systematic Internaliser (SI) regime
Best execution
New market structure - MTFs OTFs SIs
Implementation challenges:
  • Trading workflow - regional interpretations
  • MiFID host governance over third country branches
  • Data issues
Secondary markets
Securities financing transactions                   
Best execution reporting
Repo and collateral
Research unbundling Asset management

MiFID II/R implementation updates from ICMA

We have been sending out regular updates on the practical implementation of MiFID II/R relating to primary markets, secondary markets, repo and collateral markets, and research unbundling for asset management.

ICMA AGM & Conference 2018

ICMA Executive Education