Is MiFID II going the Avaggdu way ?
(Views expressed are personal and do not reflect positions of my current or ex-employers)
Read somewhere (Slaine, 2000AD?) of a perennially hungry monster called Avaggdu who came out of a cauldron and ended up eating itself. As Catherine Contiguglia so lucidly explains, parts of the MiFID II (Best execution, definition of execution venues etc) regulation, when drafted by ignoring business realities, may end up giving the Avaggdu treatment to the principles of market transparency MiFID II was meant to uphold. Read the complete article here. https://www.risk.net/regulation/mifid/3965526/systematic-internaliser-loophole-ties-mifid-in-knots.