10/21/2011

ISDA and other leading industry groups said they support efforts in Europe to improve market transparency, but they voiced concerns about a revamp of the Markets in Financial Instruments Directive. ISDA said MiFID II would hurt companies' ability to manage risk and curtail the types of trades transacted on single dealer platforms. "If you want to protect end users' ability to access these markets, then you need a suitable range of venues on which to trade," said ISDA CEO Conrad Voldstad. "Limiting what you class as an eligible trading platform for [over-the-counter] derivatives is not a good move."

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