(1888PressRelease)
October 30, 2007 - New financial regulations set to come into force this week could help the City prise yet more trade away from New York, it has been claimed.
The Markets in Financial Instruments Directives (MiFID) are due to come into force on Thursday, after three years of discussion.
Under the pan-European securities rules, a common European rulebook will be introduced, which, according to a report in City AM, could open up markets across Europe and make it easier to trade shares internationally.
However, while larger firms are deemed to be ready for the impact of the reforms, smaller companies could lose out in the short-term, according to Alan Jenkins, head of MiFID at the consultants BearingPoint.
He said: "Most of the major players have ploughed big investments into this and will be ready. The same cannot be said of lots of small and medium-sized firms who have largely adopted a head-in-the-sand or frankly Luddite approach."
Copyright and Disclaimer:
Copyright 2007, Aranca. All Rights Reserved.
All the contents of this Site are only for general information or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision.
Editors/Journalists/Blogs are invited to request republishing/dissemination rights. All requests to republish Aranca material for distribution should be addressed to:
Aranca Syndication Service at syndicate ( @ ) aranca dot com dot
Tel: +91.22.4005 2219 / +91.22.6725 8115
ARANCA NEWSTRACK -- www.aranca.com
