An article relating to this blog post on Finextra:
CESR signals MiFID overhaul
The introduction of a European consolidated tape for EU market data is a "necessity" says the Committee of European Securities Regulators (CESR) in a report to the European Commission which calls for...
The EU consolidated tape now looks certain and best execution becomes realistic and provable. This can only be great news for the buy side and investors everywhere. Regulated Stock Exchanges and MTFs will have to be more imaginative tin their business also
great news for investors.
As i have been saying for sometime MiFID 2 will have more impact and more teeth than MiFID 1 and many FS firms are going to have to think about their systems and services much more in the future.
Now we want MiFID 2 to have teeth and better industry management of the project and the markets ability to comply. I expect MiFID 2 to be implemented through domestc market rules now that MiFID I has produced the foundations