For Whom the Bell Tolls
– Will MiFID II Bring About the End of the OTC Era?
Over the last couple of days, I have posted on what I see as the likely effect of MiFIR on respectively the equity and bond markets. In this post, we will turn to the derivatives markets. These are the “true” OTC markets, and my prediction is, that this is where the impact of MiFIR will be felt the hardest. I see several factors combining to bring this about.