FTFM REPORTS The past year has seen reforms sweep across Europe in an attempt to streamline its fragmented post-trade infrastructure, the result of an effort that started before the adoption of the euro.
A year ago, lack of competition at the trading level was dealt with by Mifid, the Brussels directive that has spurred competition between trading venues, pitting established exchanges against start-ups such as Chi-X, BATS and Nasdaq OMX Europe.
