As the deadline for the Market in Financial Services Directive (MiFID) approaches, the firms in pole position will be those that have clear client and market strategies allied to an understanding of the changes to their operating model. These firms will allocate budget and resources to business development that exploits the opportunities created by the directive. The losers will be those that are slow to react or seek only to tick the compliance box.
There will be clear winners that exploit the opportunities arising from the opening and restructuring of the markets and for some firms additional gains will come through the increased ease of passporting services. The winners will be the firms that adapt to the changing landscape and in doing so attract increased order flow/funds to manage.
A clear advantage will lie with those that are better prepared. Although achieving compliance will make demands on resources and budgets, for most firms the requirements are clear-cut. The real challenge is positioning the firm to exploit the changes that will occur.
The introduction of MiFID will be a stimulus that will prompt the European financial markets to examine their infrastructure and improve their overall efficiency.
Download Full White Paper