More transparency for investment services
MiFID (Markets in Financial Instruments Directive) is a European directive regulating the Market in Financial Instruments. Its main objectives are to reduce the barriers to cross-border trading in transferable securities, to facilitate investment and consequently to stimulate the European economy. The MiFID Directive came into force on 1 November 2007.
The significance of MiFID
The MiFID Directive introduces a comprehensive and harmonised regulatory framework within the European Union, Iceland, Norway and Liechtenstein.
It covers a wide range of investment services and financial instruments such as equities, bonds, treasury bills, funds and derivative instruments (e.g. options, swaps, futures).
The new provisions apply to all companies providing investment advice or services: banks, stockbrokers and other financial intermediaries.
By increasing the efficiency and transparency of the financial markets, the MiFID Directive creates new opportunities, which BNP Paribas Fortis- as a major investment service provider in Europe - wants its clients to take full advantage of.