MiFIR is here- the long wait is over

The trilogue participants have finally handed over compromise text of  MiFID II/MiFIR II for legislative drafting. A scant two years behind schedule, the negotiations have taken four years to reach this point. Though very few people have read the 464 page document in sufficient detail to be certain, it is clear that the compromise is along the terms welcomed by Michel Barnier in his 14^th January statement and summarised here. Though well-flagged beforehand, the wider market may breathe a sigh of relief that this landmark piece of legislation is officially out of the politician’s hands.