Market needs more than duopoly

Europe's Markets in Financial Instruments Directive (Mifid) opened the equities market to competition but now failures and consolidation has left just the incumbent versus an independent in most countries. Alasdair Haynes, chief executive of Aquis Exchange, explains to FT Trading Room editor Philip Stafford why the market needs more than a duopoly and how the scenario under the Mifid review offers opportunities for new companies.