Applying Mifid to spot FX could backfire, warns MEP
EC would need to make "very compelling case" to draw spot market into wider regime, says Ferber
As the European Commission weighs up an Australian-styled approach to regulating currency trading, one member of the European Parliament is warning against heavy handed oversight.
Spot FX markets are global in nature, and Markus Ferber – the rapporteur tasked with negotiating Mifid II – says that if the European Union imposes overly restrictive rules it could result in trading moving away from the bloc.
“If the commission is really doing something which hurts these markets, [that activity]
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