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The EU watchdog dismissed the idea of delaying further the enforcement of new rules for security trading, which will be implemented in the early part of next year.
Refuting previous reports and commentaries, ESMA Chairman Steven Maijoor stressed Wednesday the MiFID 2/MiFIR will take effect on January 3, 2018. He added one delay has been sufficient for all banks, clients, and markets.
The ESMA head also said they would unveil a consultation paper on this in the next few weeks, but the sector has only six weeks to respond.
Still subject to the authorization of EU member countries, the EU parliament, and the European Commission, the sector is expecting the extensive rules that will heighten the transparency in bond, commodities, and stock markets, as well as require derivative trading on a platform.
