Europe finally has agreed on the terms of MiFID II, extending its regulatory reach into fixed income, FX, OTC trading and blogcommodity speculation. Here are seven details you need to know as implementation begins.

We still have technical meetings to go through to finalize details, so the complete text is unlikely to be available until won or close to January 27, but here is what we understand so far:

1.  HFT will be restricted through greater testing of algorithms, but there will be no 500 m/s rule.

  • Final organizational requirements for investment firms engaged in algorithmic trading have been passed to ESMA Technical Guidelines for greater analysis concerning the risks potentially raised by technology-advanced trading practices.  Continue reading