ISDA Focus: MiFID

The European Commission published legislative proposals on October 20, 2011 as part of its review of the existing European Markets in Financial Instruments Directive (MiFID). The draft legislation includes rules on trading platforms, transparency and investor protection.

The overarching objective of the original MiFID framework was to further the integration, competitiveness and efficiency of European financial markets. ISDA supports changes that build on that goal, including the introduction of an effective post-trade transparency regime for OTC derivatives.

On this page you can find materials that set out ISDA’s position on the MiFID review. To listen to recent Member Calls on the directive, login to the Members Portal here.

ISDA is also closely involved in the work of the Joint Associations Committee on Retail Structured Products (JAC), which is following the elements of the MiFID Review that impact on the market for retail structured products.  Please see:  http://www2.isda.org/asset-classes/structured-products


DateTitle / DescriptionDocuments
June 26, 2012
Amendments tabled on MiFID – Physically settled commodity derivatives
Amendments tabled on MiFID – Physically settled commodity derivatives
20120625_MIFID_amendments_Commodities_scope_ISDA.pdf
May 2, 2012
ISDA Paper: The OTF and SI regime for OTC derivatives
Comment paper on market structure under MiFID2/MiFIR
MIFID - SI and OTF comments - final - Apr 2012.pdf
February 15, 2012
ISDA paper: MiFID/MiFIR and Transparency for OTC Derivatives
Describes the nature of trading structure and liquidity formation in OTC derivatives markets and the implications for framing pre-trade transparency obligations under MiFID2 / MiFIR.
MiFIDMiFIRandtransparency20120214.pdf
January 13, 2012
ISDA Response to the Questionnaire on MiFID/MiFIR 2 by Markus Ferber MEP
ResponsetoFerberquestionnaire Jan2012.pdf
December 6, 2011
Presentation on the MiFID Review
Presentation from Member Call
20111206ISDAPresentation.pdf
November 30, 2011
Regulation of Commodity Derivatives markets within MiFID – price formation drivers
ISDA position paper
201111priceformationdrivers.pdf
November 30, 2011
Regulation of Commodity Derivatives markets within MiFID – Position limits and position management rules
ISDA position paper
201111positionlimitspositionmanagement.pdf
November 23, 2011
November 2011 Position Paper
ISDA position paper
ISDA MiFID Position Paper - 23 Nov 2011.pdf
October 31, 2011
Trading obligation under MiFID II
Flowchart
MiFIDIIvenueselectionOct2011.pdf
October 31, 2011
Assessment of the different trading venues in MiFID II and how they relate
Table on the MiFID II Trading Landscape
MiFIDIItradinglandscapeOct2011.pdf