Preparing for MiFID II, turning cost into opportunity

MiFID II has thus far been viewed as a curse - but could it also be a blessing


Market participants will need to make significant changes to their trading infrastructure in the months to come to prepare for MiFID II. The implications of the directive are keeping IT leaders in the financial sector awake at night as the technological and process-related efforts needed to comply are gargantuan and the timescales very limited.

This is also expected to be a costly exercise. In April 2014, the European Commission estimated that overall, MiFID II will impose one-off compliance costs of between €512 and €732 million plus ongoing costs of between €312 and €586 million per year.