Europe Moves Toward a Single Financial Market

摘要

While U.S.-Based investment firms scramble to cope with the national market system created by Reg NMS, their European counterparts have their own regulatory headache, which is equally taxing and farther reaching. If MiFID — the Markets in Financial Instruments Directive — works out as planned, the entire European Union (EU) — which comprises 25 countries and 450 million people — will be turned into a single market for wholesale and retail financial transactions.