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MEPs draft Mifid II amendments to avoid HFT trap

European Parliament takes opportunity to tweak rules to ensure non-financial firms aren't mistakenly caught up in restrictions aimed at HFTs

Disquiet: Welsh MEP Kay Swinburne was among a group of MEPs who have raised concerns with the European Commission over the treatment of packaged transactions
Disquiet: Welsh MEP Kay Swinburne was among a group of MEPs who have raised concerns with the European Commission over the treatment of packaged transactions Photo: Getty Images

Lawmakers have taken advantage of the likely delay to Mifid II to table draft amendments to the overhaul of Europe's trading rulebook that aim to stave off the prospect of non-finance companies becoming caught up in rules meant to govern high-frequency traders.

The amendments, which will be voted on by MEPs on March 17, are designed to clarify rules in the review of the Markets in Financial Instruments Directive that cover packaged transactions, as well as to whom the rules apply.

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