Transparency should not be an end in itself - A look into the potential pitfalls of EMIR in the DACH region
Mark Goodmann is Head of Electronic Services – Europe at Société Générale Corporate & Investment Banking and has his fingers very much on the pulse when it comes to the latest financial regulatory reforms.
One of the latest ones to make the pink papers is EMIR (European Market Infrastructure Regulation) so we at TradeTech DACH set some questions to Mr. Goodman to find out what the possible – if not intended – outcomes of EMIR may be.
If EMIR comes in as proposed, will it be an overall positive change for the DACH nations, and why?
Broadly speaking we should welcome a second wave of legislation to address some of the short-comings which resulted from MiFID I.
Whilst fragmentation in itself is not a bad thing the lack of a consolidated tape has emphasised the downside of this market structure rather than the upside. There has been no viable market response to this and whilst legislation should be the last resort it appears necessary in this instance, and in principal is widely supported by the industry.
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