Day zero

摘要

AFTER years of rule-drafting, industry lobbying and plenty of last-minute wrangling, Europe's massive new financial regulation, MIFID 2, was rolled out on January 3rd. Firms had spent months dreading (in some cases) or eagerly awaiting (in others) the "day of the MiFID" when the law's new reporting requirements would enter into force. One electronic-trading platform, Tradeweb, even gave its clients a "MiFID clock" to count down to it.