How Mifid affects the global FX market
FEATURE
The European Union's Markets in Financial Instruments Directive (Mifid) has legal authority only across the 30 European Economic Area (EEA) countries. But its impact will be global, not because a European directive can change the law in other regions of the world, but because it changes the way FX houses in Europe do business around the world.
Any trade in any asset class on behalf of a client that involves an exchange of currency is affected by Mifid, if either party to the trade is in the EEA
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