2 October 2017

Co-Authors

Anish Puaar

Vice President    

Justin Schack

Managing Director    

Rosenblatt Securities Inc.    
New York +1 212 607 3100    

TRADING TALK
Rosenblatt's Market Structure News Digest (European Edition)

Trading Execution Prices Are Seen Plunging in MiFID Share Grab
—Bloomberg

Banks competing to defend or increase their share of equity-trading revenues after sweeping European regulations start next year may drive down the cost of execution in a price war, according to three executives.

Our Take: MiFID II will require brokers to separate research and execution fees to improve transparency on buy-side commissions. Big banks are reportedly using this as an opportunity to slash execution fees and price out smaller rivals. Similar fears are emerging in the research spaceā€¦

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