MiFIR
Markets in Financial Instruments Regulation
Definition
The directly applicable EU regulation that complements MiFID II, establishing requirements for pre- and post-trade transparency, transaction reporting to competent authorities, and trading obligations for shares and derivatives. Unlike the directive, MiFIR applies uniformly across EU member states without transposition.
Regulatory Context
MiFIR is currently undergoing review, with proposals to establish a consolidated tape for equities and bonds across the EU. The regulation works in tandem with MiFID II to create a comprehensive framework for financial markets.