The EU council agreed on Friday to adopt the proposed position by ECOFIN last week that as part of MiFID II open access to clearing should be provided by execution venues.
It has been agreed towards the end of the Irish presidency which permits the “trialogue” process to commence. This means that MiFID II is likely to be agreed within 6-9 months, in time for the next European elections, pushing its adoption along.
Also see this article in the Trade News for some more explanation.
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