A requirement coming in force in the European Union in January
2018 requires entities engaged in securities trading activities to
obtain a Legal Entity Identifier (LEI). This affects entities
trading in, through or from the EU and the UK.
Financial markets in Europe and overseas are becoming more
transparent under the growing effort of the European regulations.
On January 3, 2018, the EU Markets in Financial Instruments
Directive revision (MiFID II) and the
Markets in Financial Instruments Regulation (MiFIR) come into
force.
MiFID and MiFIR in a nutshell
The MiFID revision and the MiFIR take effect on 3 January
2018.
The MiFID regulates the provision of investment services in
financial instruments by banks and investment firms and the
operation of traditional stock exchanges and alternative trading
venues. The regulation aims to make the European financial markets
more transparent and integrated and to strengthen the protection of
investors.
