The Markets in Financial Instruments Directive : Banking on Market and Supervisory Efficiency

Author/Editor:

François Haas

Publication Date:

October 1, 2007

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

The Markets in Financial Instruments Directive (MiFID) which comes to life on November 1, 2007, represents a major step toward the creation of a single, more competitive, cross-border securities market in Europe. Together with other components of the European Commission's Financial Services Action Plan, MiFID has the potential to significantly transform the provision of financial services and the functioning of capital markets in Europe. This paper assesses the directive and the dynamics it creates from a broad perspective, focusing on those aspects that carry relatively higher transformation potential, and on the appropriate supervisory arrangements for European securities markets once MiFID is operational.

Series:

Working Paper No. 07/250

Subject:

English

Publication Date:

October 1, 2007

ISBN/ISSN:

9781451868135/1018-5941

Stock No:

WPIEA2007250

Format:

Paper

Pages:

23

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