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Revised Markets in Financial Instruments Directive (MiFID II/MiFIR)

The revised Markets in Financial Instruments Directive (MiFID II) and the accompanying Markets in Financial Instruments Regulation (MiFIR) regulate the provision of investment services in a multitude of financial instruments at regulated trading venues as well as in over-the-counter OTC trading.


The new Directive and Regulation will fundamentally transform the European securities market by expanding transparency provisions, strengthening the stability and integrity of the financial market infrastructure, revising the markets’ microstructure (market making, algorithmic trading, requirements regarding the security mechanisms of trading venues and market participants, tick sizes) and improving the quality and availability of market data.

Time line

The Directive and Regulation (Level 1) entered into force on 1 July 2014. The provisions must be transposed into national law by 3 July 2017. The German Bundestag passed the Second Financial Market Amendment Act on 23 June 2017. Since 3 January 2018, the regulations have had to be applied.

MiFID II/MiFIR: the highlighted parts of the value chain are affected

Capital Markets Union Action Plan

Deutsche Börse is looking forward to the European Commission’s new Capital Markets Union (CMU) Action Plan to be published soon. Progressing on the CMU is not only decisive for delivering Europe's New Green Deal and Digital Agenda, but also to support a healthy and sustainable post-pandemic recovery.

MiFID II entered into force and EEX is there to help you.

All derivatives contracts are effected and that leads to increased reporting requirements for you. We have built up a unique compliance service framework to meet MIFID II requirements with minimal effort.

Obtain your LEI now!

EU regulations, such as MiFID II/MIFIR, will mandate both EU and non-EU market participants to obtain LEIs. Why not use our new and simplified LEI issuance process?

Well-prepared for MiFID II with Deutsche Börse Group

Read Eurex’s latest paper on the impact of MiFID II/MiFIR on the derivatives market, in particular on market structure. 


We provide you with information on the changes to the transparency requirements for pre-trading and post-trading.

Fit for MiFID? Workshop slides now online!

Fit for MiFID

In case you couldn’t join our events across Europe and the US, here are our workshop slides to keep you up to date.

Legal basis

Find the most recent legal text on this regulation here.

Further information