Senior buyside trading heads say the multiple trading venues created by the directive have not had the intended impact
By Anish Puaar
July 25, 2013 Updated: 9:49 p.m. GMT
Almost six years since the introduction of European trading rules aimed at transforming equity markets, smaller buyside firms are still struggling to see material improvements to their trading performance.
The rules, introduced via the Markets in Financial Instruments Directive in 2007, allowed new trading venues to compete with domestic stock exchanges to try to break monopolies and help drive down the cost of trading...