Buy-side Perspectives Issue 10 | Page 19

Whilst most aspects of the new MIFID II regulatory framework are becoming clearer, the impact of introducing such significant changes remain uncertain and concerns have already been raised about the potential unintended consequences such changes could introduce. This has led to a degree of confusion in the industry and, more worryingly, a potential break down in how the new regulatory framework is being interpreted and implemented. It is therefore crucial that key industry participants work in partnership to build a simple, transparent and flexible platform, which can adapt to the changing regulatory environment. Under Mifid II, brokers won’t be able to match client to client business on a systematic