Wall Street Has New MiFID Migraine, Now in Futures Market
- Banks are seeking CFTC relief from added regulatory burdens
- Futures brokers concerned that compliance could add costs
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For Wall Street banks, the ripple effects keep spreading from sweeping new European rules that govern how brokerage clients pay for investment research.
The latest complication is in the multi-trillion-dollar futures and derivatives markets, where traders speculate on everything from currencies to oil and metals. Banks that handle client orders have provided market analysis for free -- a perk that comes along with the lucrative fees customers pay them to execute trades.