MiFID: Convergence Towards a Unified European Capital Markets Industry Giraud, Jean-Rene and D'Hondt, Catherine

With many organisations mis-understanding the implications of MiFID on the capital markets industry as a whole and more specifically on their own firm, developing a better understanding of this significant piece of regulation has become vitally important.

Focusing on the three major elements embedded into the directive you will gain important insights into how the key aspects of this compulsory regulatory change affect you, these are:

• Multilateral trading facilities,
• Internalisation, and
• Best execution.

Providing you with a single source of information on the newly issued regulation, this book includes its practicalities and a review of the potential impact on the industry. You will be given a practical understanding of the directive’s impact on investment firms and develop a vision of the broader changes the directive will generate amongst industry players.

Bringing together the viewpoints of both academics and practitioners, possible ways forward are suggested and your understanding of how the industry will evolve over time will be increased. You are provided an exclusive insight into the tools and techniques that you can use to support these new regulatory requirements.

This invaluable reference and guide will serve as essential reading material for you and should be recommended reading for investment firms representing the entire capital markets value chain, from exchanges and new alternative trading systems, intermediaries, money managers and end investors

Jean-Rene Giraud started his career as an Analyst Programmer for SIP after graduating from the Ecole Superieure en Sciences Informatiques with a Masters in IT Engineering. Now the founder and CEO of Edhec-Risk Advisory, the consultancy arm of Edhecs Risk and Asset Management Research Centre, he is operating the consultancy arm in addition to his responsibilities within the Edhec Risk and Asset Management Research Centre.

Prior to this, Jean-Rene has worked for management consultancy house Capco in London, Paris and Brussels having previously moved from Barclays Capital in London. There he was Project Manager and Lead Business Analyst for several major implementations, including a global transaction hub.

Catherine DHondt is an associate professor at EDHEC Business School in Lille with her primary research area in market microstructure and a special focus on traders' behaviour and order submission strategies. Having had the opportunity to present most of her empirical works at several high quality international conferences, she currently teaches in the area of financial markets and assets.