Product Type: Market Research Report
Published by: TowerGroup
Published: July 2007
Product Code: R301-1304Description The European Union (EU) regulatory initiative, Markets in Financial Instruments Directive (MiFID), is scheduled for implementation in November 2007. The US initiative, Regulation National Market System (Reg NMS), implemented in stages, is anticipated to be final October 2007. Although the discussion in the media has focused on the fact that these regulations mandate best execution, at their core, they drastically change the way that the securities industry handles market data. This TowerGroup Research Note addresses how these regulations will not only create more sources of data but also cause a greater volume of quote data from each of those data sources.
Table of Contents - TowerGroup Take-Aways
- Report Coverage
- Vision
- Reg NMS Targets Exchanges
- Exhibit 1 Compliance with US Regulation National Market System by Segment (2007)
- MiFID Targets Broker-Dealers
- Exhibit 2 Compliance with the Markets in Financial Instruments Directive by Segment (2007)
- Implications for ECNs and Exchanges
- Exhibit 3 New York Stock Exchange Trade and Quote Volumes (2000-12P)
- Refining Data Management Strategies Based on Regional Considerations
- Summary
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